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Author: Futurescoin   |   Latest post: Tue, 12 Nov 2019, 11:08 PM

 

Daily Futures Trading Strategy 8 November 2019

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FUTURESCOIN IS GOING GLOBAL

 

WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

 

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E-Mini Dow

U.S. stock index futures jumped on Thursday as signs of a U.S.-China trade truce and a fresh batch of earnings reports looked set to restart a rally that has led Wall Street to record highs.

China said on Thursday that it had agreed with the United States to remove tariffs in phases, while the state-owned Xinhua News Agency said Beijing was also considering removing restrictions on poultry imports.

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Plan A : Continue to hold long as long as market stays above 27690. Targets are 27720, 27755 and 27790.

Plan B : Cut below 27660.

Plan C : Attempt to sell if market breaks below 27695. Targets are 27665, 27630 and 27595.

Plan D : Cut above 27725.

 

 

E-Mini S&P 500

 

The S&P 500 gained 0.27% to end the day at 3,085.18.  News that the U.S. and China are willing to roll back tariffs to reach a trade deal sparked a sharp rotation out of bonds and into stocks, propelling the major indexes to fresh record levels.

 

A Chinese Commerce Ministry spokesman said China and the U.S. agreed to simultaneously cancel some existing tariffs on one another’s goods, according to the country’s state broadcaster. A U.S. official also said both sides agreed to the tariffs rollback, according to Reuters. Wall Street interpreted the news as both sides making strong progress toward a trade deal being reached, pushing stocks to records. 


The move in stocks to all-time highs came at the expense of the bond market. The 10-year Treasury yield had its biggest upward move since the 2016 election, pushing down the price. To be sure, a U.S.-China trade resolution is not 100% certain at this point. Stocks lost some steam in late-afternoon trading after Reuters reported the tariff rollback is facing opposition within the White House.

 

Investors will digest consumer sentiment data on Friday to end the week. Meanwhile, Disney is scheduled to release its quarterly earnings after the close Thursday.

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Plan A : Short if market failed to support above 3074.50. Targets 3059.25, 3048.25 and 3027.50.

Plan B : Long if market retraced but supported firm above 3045.25. Targets are 3060.50, 3071.25 and 3079.50.

 

 

 

E-Mini Nasdaq

 

U.S. stock index futures were lower Friday morning. At around 01:30 a.m. ET, Dow futures fell 44 points, indicating a negative open of more than 10 points. Futures on the S&P and Nasdaq were both slightly lower.

 

The Nasdaq Composite advanced 0.28% to 8,434,52.

 

Investors are closely monitoring news on the China-U.S. trade front, after a spokesperson for the Chinese commerce ministry said that both sides had agreed to cancel existing tariffs in phases.

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Plan A : Short if market failed to support firm above 8201.25. Targets are 8161.50, 8129.25 and 8105.50.

Plan B : Long if market retraced but supported firm above 8107.25. Targets are 8146.25, 8175.25 and 8207.75. 
 

 

 

HSI

Hong Kong stocks ended higher on Thursday as signs of progress in the China-U.S. trade negotiations triggered a rally during the final 30 minutes of trading. 

 

Shares were roughly flat in morning trading, but staged a rally during the final 30 minutes of the session, on news that China and the United States have agreed to cancel tariffs imposed during their months-long trade war in different phases.

 

The Hang Seng index ended up 0.6% at 27,847.23.

 

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Plan A : Above 28090, do nothing
Plan B : Below 27707, do nothing
Plan C : Attempt to long if market stays firm above 27707
Plan D : Cut below 27625
Plan E : Consider to short if market still fails to breach above 28090
Plan F : Cut above 28175

 

 

WTI Crude

 

Oil prices rose on Thursday after China hinted at progress towards a trade deal with the United States, raising hopes for an end to a long dispute that has weighed on economic growth and fuel demand.

 

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Plan A : Remain buy as long as oil price stays firm above 56.8

Plan B : Exit below 56.3

Plan C : Consider selling if oil price surges but fails to breach above 57.1

Plan D : Cut above 57.42

 

 

Gold

 

Gold slid more than 1% on Thursday to its lowest level in over a month as U.S. Treasury yields jumped and global equities markets cheered China and United States' agreement to cancel some tariff in phases.

 

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Plan A : Attempt selling if gold price stays trading below 1469

Plan B : Cut above 1480

Plan C : Consider buying only if gold price regain footings above 1469

Plan D : Cut below 1460

 



 

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.

 

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