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Author: Futurescoin   |   Latest post: Wed, 25 Nov 2020, 2:53 AM

 

Daily Futures Trading Strategy 4 November 2020

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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. stocks closed sharply higher on Tuesday as Americans voted in one of the country's most rancorous presidential elections and investors bet it would be decided without a prolonged process, leading to a swift deal on more fiscal stimulus.
 

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Plan A : Remain buy as long as market supported firmly above 27459. Targets are 27675 and 27786.
 
Plan B : Consider sell if market breaks below 27459. Targets are 27348 and 27132.
 
 
E-Mini S&P 500
 

Stocks jumped on Tuesday as investors hoped a clear winner would emerge from the U.S. presidential election and a delayed, or contested, result would be avoided.

The S&P 500 climbed 1.8% to 3,369.16 and the Nasdaq Composite advanced 1.9% to 11,160.57. It was the second-best presidential Election Day performance for the S&P 500.

Industrial and financials were the best-performing sectors in the S&P 500, gaining more than 2% each.

S&P 500 futures rose slightly in volatile trading Wednesday as results of the presidential election rolled in without a clear winner yet. 

About 60 million voters sent their ballots in the mail due to the coronavirus pandemic, according to the U.S. Elections Project. This influx of mail-in voting has raised concern over the potential for a delayed election result.

Investors are also eyeing the key Senate elections which will determine if the so-called blue wave will take over Congress. Major policy shifts, including further fiscal stimulus, depend on which party has majority control.

Wall Street was coming off a solid session in which the major averages clawed back some of their sharp losses from the previous week. The Dow gained more than 400 points on Monday, while the S&P 500 and the Nasdaq rose 1.2% and 0.4%, respectively.
 

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Plan A : Long if market doesn't retrace much and supported firm above 3330. Targets are 3346, 3362 and 3380.

Plan B : Short if market failed to support above 3330. Targets are 3306, 3283 and 3251.

 
 
E-Mini Nasdaq
 

Futures for the Nasdaq 100 index, home to many tech stocks, outperformed, but broader market gains were capped as both candidates claimed they were on pace to winning.

Investors were also watching to see if Republicans would maintain their majority in the Senate.

Treasury Secretary Steven Mnuchin told CNBC’s Kayla Tausche a couple hundred attendees were watching the election results come in at the East Room, calling the mood “great.”

This week’s market moves come as investors hoped a delayed, or contested, U.S. presidential election result would be avoided and a clear winner would emerge Tuesday night.

Some investors were betting on a so-called blue wave, a scenario in which Democrats win the White House and retake a Senate majority. Some of those investors had been rotating out of tech stocks on the notion that Democrats would institute higher taxes that would hit those shares. The theory is that investors would sell winning tech stocks before higher capital gains taxes were implemented. A Trump win, or Republicans maintaining a Senate majority, would make that scenario less likely.

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Plan A : Long if market doesn't retrace much and supported firm above 11595. Targets are 11620, 11658 and 11690.

Plan B : Short if market failed to support above 11595. Targets are 11558, 11519 and 11481.
 

 

HSI
 
Hong Kong shares ended higher on Tuesday, boosted by the energy and financial sectors, following a global equity markets higher as strong factory output data from major economies underpinned sentiment ahead of U.S. elections.
 

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Plan A : Remain buy as long as market supported firmly above 24874. Targets are 25093 and 25154.

 
Plan B : Consider sell if market surges but fails to breach above 25154. Targets are 25093 and 24874.
 
 
 
 
WTI Crude
 
Oil prices rose over 2% on Tuesday, advancing with other financial markets on U.S. Election Day although traders were bracing for volatility depending on the voting results and as surging coronavirus cases around the world fed worries about fuel demand.
 

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Plan A : Attempt buy if oil price trades firmly above 38.0. Targets are 38.9 and 39.5

Plan B : Consider short if oil price surges but fails to breach above 38.9. Targets are 38.2 and 37.0
 

 
 
Gold
 
Gold rose on Tuesday as the dollar slipped and ambiguity regarding the declaration of U.S. presidential results prompted investors to seek the refuge of the safe-haven metal.
 
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Plan A : Attempt short if gold price breaks below 1910. Targets are 1885 and 1878.
 
Plan B : Consider buy only if gold price holds resiliently above 1910. Targets are 1918 and 1935.
 
 

 

 

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, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, 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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