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Where Futures Lies

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

 

Daily Futures Trading Strategy 10 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

 
The S&P 500 and the Dow rallied sharply but closed shy of their records on Monday as investors bet that a full economic reopening was finally in sight following the first positive data from a late-stage COVID-19 vaccine trial.
 

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Plan A : Remain buy as long as market supported firmly above 28967. Targets are 29228 and 29323.
 
Plan B : Consider sell if market falls below 28967. Targets are 28824 and 28732.
 
 
E-Mini S&P 500

The Dow and S&P 500 jumped on Monday as investors cheered trial data from drugmakers Pfizer and BioNTech indicating their Covid-19 vaccine is more than 90% effective. Shares of airlines and other travel-related stocks posted the biggest gains.

The S&P 500 popped 1.2% to 3,550.50 and also reached an intraday all-time high. The small-cap Russell 2000 index gained 3.7%. 

Those losses in Big Tech weighed on the broader market as the session went on, leading the Dow and S&P 500 to close well below their highs of the day.

The vaccine announcement was seen on Wall Street as a sign that the pharmaceutical industry may soon have a viable way to control a disease that has derailed the U.S. economy for much of 2020 and has killed more than 230,000 Americans.

Shares of cruise-operator Carnival Corp. rocketed higher by 39.3%, Southwest Airlines jumped 9.7% and the Walt Disney Company popped 11.9% as investors bet a vaccine may allow more vacationers to attend its many amusement parks.

Bank stocks also rallied on hopes of a quicker return to normal economic activity. JPMorgan Chase and Bank of America gained 13.5% and 14.2%, respectively. Citigroup advanced 11.5%.

Democrats are projected to keep their House majority, although Wall Street was watching closely as Senate control is still in limbo. Both of Georgia’s Senate races are likely going to runoffs slated for early January.

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Plan A : Short if market failed to support above 3527. Targets are 3503, 3479 and 3450.
 
Plan B : Long if market doesn't retrace much and supported firm above 3527. Targets are 3543, 3560 and 3578.
 
 
 
E-Mini Nasdaq

Stock futures declined in early morning trading on Tuesday following a record-setting rally sparked by promising news of a coronavirus vaccine.

The overnight action came after a strong rally on Wall Street that saw the Dow and the S&P 500 hit new intraday record highs. However, the Nasdaq Composite closed lower by 1.5% at 11,713.78 as traders rotated out of high-flying technology names that outperformed during the pandemic into more beaten-down value stocks.

U.S. pharmaceutical giant Pfizer and German biotech firm BioNTech announced Monday their coronavirus vaccine was more than 90% effective in preventing Covid-19. The news sent travel stocks soaring as the’ recovery of these companies depends on a successful economic reopening. 

While cyclical stocks led the market advance on Monday, the tech-heavy Nasdaq Composite fell 1.5% as investors dumped some of the popular stay-at-home plays such as Zoom Video and Netflix. The Nasdaq finished Monday’s session near its session low.

Pfizer’s big vaccine news came as the U.S. topped 10 million cases of Covid-19, a bleak milestone just 10 days after reaching the 9 million mark amid a record surge in daily infections. Many on Wall Street believe a viable vaccine would be crucial for the economy on its road to a full recovery.

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Plan A : Long if market doesn't retrace much and supported firm above 11675. Targets are 11704, 11736 and 11778.

Plan B : Short if market failed to support above 11675. Targets are 11638, 11602 and 11575.

 
 
HSI
 
Hong Kong stocks ended at a four-month high on Monday, tracking gains in other Asian markets as Democrat Joe Biden's victory in the U.S. presidential election raised hopes of a thaw in frosty Sino-American trade relations.

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Plan A : Remain buy as long as market supported firmly above 26030. Targets are 26238 and 26508.

 
Plan B : Consider sell if market surges but fails to breach above 26727. Targets are 26509 and 26240.

 
 
 
WTI Crude
 
Oil surges more than 8% on Monday, putting it on track for its biggest daily gain in more than six months after Pfizer announced promising results for its COVID-19 vaccine, boosting risk assets around the globe.
 

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Plan A : Remain buy as long as oil price trades firmly above 38.9. Targets are 39.5 and 40.0

Plan B : Consider sell only if oil price consistently trade below 39.5. Targets are 38.9 and 38.2

 
 
 
Gold
 
Gold tumbled over 4% on Monday as news of the first successful late-stage COVID-19 vaccine trials prompted investors to dump safe-haven bullion and flock to riskier assets.

 
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for November subscription.
 

Plan A : Remain sell as long as gold price stays below 1885. Targets are 1869 and 1854.
 
Plan B : Consider buy only if gold price trades firmly above 1854. Targets are 1869 and 1885.
 
 

 

 

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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