Highlights

Where Futures Lies

Author: Futurescoin   |   Latest post: Fri, 15 Jan 2021, 3:14 AM

 

Daily Futures Trading Strategy 17 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

 
Wall Street rose on Wednesday, with the Nasdaq closing at a record high as investors awaited a potential fiscal economic stimulus package and after the Federal Reserve repeated a pledge to keep its benchmark interest rate near zero.
 

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Plan A : Remain buy as long as market stays firm above 29899. Targets are 30145 and 30255.
 
Plan B : Consider sell if market surges but fails to breach above 30255. Targets are 30145 and 29899.
 
 
E-Mini S&P 500
 

The S&P 500 rose slightly on Wednesday amid the Federal Reserve’s latest pledge to support the economy and the apparent progress in U.S. fiscal stimulus negotiations.

The broader-market index closed 0.2% higher at 3,701.17, just below a record closing high.  

The U.S. central bank said it will buy at least $120 billion of bonds each month “until substantial further progress has been made toward the Committee’s maximum employment and price stability goals.” The Fed declined to make any changes to the duration of its bond-buying program, but Chairman Jerome Powell said the central bank would increase its asset purchases if the economic recovery slows.

Congressional leaders closed in on a $900 billion rescue deal that would include a new round of direct payments to consumers. However, that package excludes a liability shield for businesses and state and local aid, CNBC has confirmed. Politico first reported the news.

The deadline on stimulus looms amid some of the darkest days of the pandemic. The U.S. is recording at least 212,000 new Covid-19 cases and at least 2,400 virus-related deaths each day, based on a seven-day average calculated by CNBC using Johns Hopkins University data.

Wednesday’s moves were kept in check by a steeper-than-expected drop in U.S. retail sales. The Commerce Department said retail sales fell by 1.1% in November. Economists polled by Dow Jones expected a decline of 0.3%.

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Plan A : Long if market doesn't retrace much and supported firm above 3698. Targets are 3713, 3730 and 3748.

Plan B : Short if market failed to support above 3698. Targets are 3672, 3647 and 3620.
 

 
 
E-Mini Nasdaq

U.S. stock futures were higher early Thursday morning as traders kept an eye on Washington, looking for clues about the prospects of additional fiscal aid.

The Nasdaq Composite gained 0.5% to end the day at 12,658.19, notching intraday and closing all-time highs, as Apple and Microsoft each popped more than 2%.

Wall Street was coming off a mixed session in which the S&P 500 and Nasdaq Composite rose while the Dow posted a small loss.

Those moves came after the Federal Reserve pledged to keep buying bonds until the economic recovery was completed. Fed Chairman Jerome Powell also said the central bank would increase its bond purchases if the recovery slows down.

On Thursday, investors will brace for the release of weekly jobless claims data and the latest numbers on U.S. housing starts. Those data releases will follow a disappointing retail sales report that kept investor sentiment in check on Wednesday.

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Plan A : Short if market failed to support above 12696. Targets are 12656, 12610 and 12571.

Plan B : Long if market supported firm above 12696. Targets are 12727, 12760 and 12791. 

 

 
HSI
 
Hong Kong shares edged up on Wednesday, with tech and healthcare stocks leading the gains, while the index tracked global equities higher on positive vaccine news and stimulus hope.
 

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Plan A : Attempt sell if market falls below 26460. Targets are 26355 and 26238.

 
Plan B : Consider buy if market falls but rebounds from 26238. Targets are 26335 and 26460.
 

 
 
WTI Crude
 
Oil prices edged higher on Wednesday, buoyed by U.S. government data that showed crude stockpiles fell last week and by optimism about a coronavirus relief package in the United States.
 

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Plan A : Remain buy as long as oil price trades firmly above 46.8. Targets are 47.4 and 48.2  

Plan B : Consider sell only if oil price surges but fails to breach above 48.2. Targets are 47.4 and 46.8
 

 
 
Gold
 
Gold prices were steady on Wednesday as expectations for more support for the U.S. economy and a dovish stance from the U.S. Federal Reserve countered pressure from optimism over COVID-19 vaccinations.

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

Plan A : Remain buy as long as gold price trades firmly above 1854. Targets are 1870 and 1885.
 
Plan B : Consider sell only if market surges but fails to breach above 1870. Targets are 1865 and 1854.
 
 
 

 

 

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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