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Where Futures Lies

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

 

Daily Futures Trading Strategy 12 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 Nasdaq closed up 2% on Wednesday as investors switched back to technology stocks and away from economically sensitive sectors as they weighed COVID-19 vaccine progress against a virus surge and likely timing for a economic rebound.
 

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Plan A : Remain buy as long as market supported firmly above 28967. Targets are 29323 and 29414.
 
Plan B : Consider sell if market falls below 29323. Targets are 29029 and 28967.
 
 
E-Mini S&P 500
 

The S&P 500 and Nasdaq Composite rose on Wednesday as tech shares recovered some of their losses from earlier in the week at the expense of names who would benefit from an economic recovery.

The broader-market index closed 0.8% higher at 3,572.66 and the Nasdaq jumped 2% to 11,786.43. 

Wednesday’s moves came after strong back-to-back strong sessions for the Dow that were sparked by Pfizer and BioNTech’s announcement about their more than 90% effective Covid-19 vaccine.

The news caused investors to move out of technology names and stay-at-home stocks and into cyclical stocks that hinge on a recovering economy.

Tech and consumer discretionary, the worst-performing sectors this week, outperformed on Wednesday. Tech was up by more than 2%, and consumer discretionary gained 1.5%.

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Plan A : Long if market doesn't retrace much and supported firm above 3524. Targets are 3540, 3554 and 3575.

Plan B : Short if market failed to support above 3524. Targets are 3498, 3471 and 3450. 
 

 
E-Mini Nasdaq
 

U.S. stock futures were lower early Thursday morning following a strong session for tech stocks.

The move in futures after the market bucked its recent trend on Wednesday, with the tech-heavy Nasdaq Composite leading while cyclicals and small caps lagged. The Dow slipped 23 points after adding nearly 1,100 in the two previous sessions.

Apple gained 3%. Netflix climbed 2.2%. Facebook and Amazon rose 1.5% and 3.4%, respectively. Alphabet closed 0.6% higher, and Microsoft was up by 2.6%.

More positive news on the vaccine front could come soon, as Moderna announced on Wednesday evening that its phase-three trial had accrued enough cases of the coronavirus to submit the preliminary results to an independent safety monitoring board.

Investors will also be looking at new data on the economic recovery on Thursday morning. The Labor Department is slated to release jobless claims data for last week before the opening bell, and economists surveyed by Dow Jones expect 740,000 claims. New inflation data will also be released before the markets open in New York.

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Plan A : Long if market doesn't retrace much and supported firm above 11919. Targets are 11948, 11977 and 12010.

Plan B : Short if market failed to support above 11919. Targets are 11880, 11838 and 11797.
 

 
HSI
 
Hong Kong shares closed lower on Wednesday, dragged by tech shares on concerns about tighter regulations over big tech giants such as Alibaba Group.
 

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Plan A : Remain buy as long as market supported firmly above 26188. Targets are 26270 and 26508.

Plan B : Consider sell if market surges but fails to breach above 26508. Targets are 26380 and 26240.
 
 
 
WTI Crude
 
Oil prices rose slightly on Wednesday as hopes of an effective COVID-19 vaccine continued to bolster sentiment and an industry report showed U.S. crude inventories fell more than expected.
 

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Plan A : Remain buy as long as oil price trades firmly above 40.9. Targets are 41.5 and 42.2

Plan B : Consider sell only if oil price consistently trade below 41.5. Targets are 40.9 and 40.2

 
 
Gold
 
Gold prices fell 1% on Wednesday hurt by a stronger dollar, while optimism around a potential COVID-19 vaccine raised hopes for a quick economic-rebound, driving investors towards 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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