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Author: Futurescoin   |   Latest post: Tue, 26 Jan 2021, 2:55 AM

 

Daily Futures Trading Strategy 4 December 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 Composite Index closed at a record high on Thursday, lifted by Tesla Inc, while the S&P 500 fell after a report that Pfizer Inc had slashed the target for the rollout of its COVID-19 vaccine. Dow on the other hand, rose 0.29% to end at 29,969.52.
 

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Plan A : Remain buy as long as market stays firm above 29899. Targets are 30000 and 30100.
 
Plan B : Consider sell if market trades below 29899. Targets are 29709 and 29611.
 
 
E-Mini S&P 500
 

The S&P 500 fell marginally from a record high in a late-day sell-off on Thursday after a report said Pfizer is dialing back its coronavirus vaccine rollout plan for this year due to supply chain issues.

The broad equity benchmark dipped just 2.29 points, or less than 0.1%, to 3,666.72 after hitting an all-time high earlier in the session.

Major averages cut gains quickly in the final hour of trading after Dow Jones reported Pfizer now expects to ship half of the doses it had previously planned this year after finding raw materials in early production that didn’t meet its standard.

Earlier in the session, sentiment was boosted by better-than-expected jobs data. First-time claims for unemployment insurance totaled 712,000 last week, lower than an estimate of 780,000 from economists surveyed by Dow Jones. Jobless claims also reached a pandemic-era low as the labor market showed resilience even in the face of a worsening pandemic.

The Labor Department is set to release its closely watched jobs repory for November on Friday. The U.S. economy is expected to have added 440,000 jobs, a slowdown from 638,000 in October, according to Dow Jones.

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Plan A : Short if market failed to support above 3652. Targets are 3627, 3602 and 3570.

Plan B : Long if market doesn't retrace much and supported firm above 3652. Targets are 3665, 3683 and 3701.

 
 
E-Mini Nasdaq
 

Stock futures were mildly higher in early morning trading on Friday as investors awaited a key November jobs report to gauge the pace of labor market recovery in the face of a worsening pandemic.

The Nasdaq Composite rose 27.82 points, to 12,377.18. The Nasdaq Composite eked out a 0.2% gain after hitting an intraday record high.

The rate of job gains likely slowed in November due to the spike in new coronavirus cases that led to fresh lockdown restrictions. The U.S. economy is expected to have added 440,000 jobs, compared 638,000 in October, according to Dow Jones. The unemployment rate is estimated to have decreased to 6.7% from 6.9%.

On Thursday, the stock market was hit by a report showing details about Pfizer’s coronavirus vaccine’s rollout. Major averages swiftly fell to their session lows after Dow Jones reported said Pfizer expects to ship half of the Covid-19 vaccines it originally planned for this year due to supply-chain problems.

Still, Pfizer and BioNtech are on track to roll out 1.3 billion vaccines in 2021 and the 50 million dose shortfall this year will be covered as production ramps up, the report said.

Elsewhere, investors closely monitored progress toward a stimulus deal as lawmakers make a strong push to break a stalemate over how to boost an economy that continues to be hurt by the pandemic. 
 

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Plan A : Long if market doesn't retrace much and supported firm above 12475. Targets are 12501, 12538 and 12570.

Plan B : Short if market failed to support above 12475. Targets are 12431, 12396 and 12350. 

 
 
HSI
 
Hong Kong stocks ended marginally higher on Thursday, lifted by hopes for additional U.S. economic stimulus and optimism over a COVID-19 vaccine that could potentially bring the pandemic under control.
 

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Plan A : Remain buy as long as market trades firmly above 26634. Targets are 26826 and 26946.

Plan B : Consider sell only if market surges but fails to breach above 26946. Targets are 26727 and 26634.

 
 
 
WTI Crude
 
OPEC and non-OPEC allies, after days of tense discussions, agreed on Thursday to increase production by 500,000 barrels per day beginning in January. This will bring the total production cuts at the start of 2021 to 7.2 million bpd.
 

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Plan A : Remain buy as long as oil price trades firmly above 45.4. Targets are 46.2 and 46.8    

Plan B : Consider sell only if oil price falls back below 45.4. Targets are 44.2 and 42.9
 

 
Gold
 
Gold firmed on Thursday as the dollar fell and investors clung to hopes of an eventual breakthrough in negotiations over a fresh U.S. coronavirus aid package.

 
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Plan A : Remain buy as long as gold price trades firmly above 1803.6. Targets are 1819 and 1836.
 
Plan B : Consider sell only if gold price surges but fails to breach above 1853.9. Targets are 1842 and 1827.
 
 

 

 

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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