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Author: Futurescoin   |   Latest post: Thu, 21 Jan 2021, 4:16 AM

 

Daily Futures Trading Strategy 18 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's three main indexes closed at record highs on Thursday as investors grew more optimistic about a coronavirus stimulus bill, helping markets look past signs of economic strain brought on by the COVID-19 pandemic.
 

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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
 

Stocks closed at record levels on Thursday, boosted by hope of Washington coming through on additional fiscal aid before the end of 2020.

The S&P 500 gained 0.6% to end the day at 3,722.48. Both the S&P 500 and Nasdaq hit intraday and closing records. The Dow posted its highest-ever closing level.

Real estate, materials and health care were the best-performing sectors in the S&P 500, rising more than 1% each. 

The latest round of U.S. fiscal stimulus talks comes as Covid-19 cases increase at a record pace. The U.S. is recording at least 215,729 additional Covid-19 cases each day, based on a seven-day average calculated by CNBC using Johns Hopkins University data. On Wednesday alone, more than 247,000 new infections were confirmed.

On Thursday, data showed jobless claims totaled 885,000 last week, hitting their highest level since early September. Economists expected 808,000 workers sought state jobless benefits during the week ended Dec. 12.

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Plan A : Short if market failed to support above 3680. Targets are 3651, 3628 and 3601.

Plan B : Long if market doesn't retrace much and supported firm above 3680. Targets are 3698, 3711 and 3728.
 

 
E-Mini Nasdaq
 

U.S. stock index futures were lower in early morning trading on Friday, after the major averages closed at new highs.

The tech-heavy Nasdaq Composite advanced 0.8% to close at 12,764.75.

The leg higher came amid optimism around Covid vaccines, as well as the hope that Washington will soon come to a consensus on additional stimulus measures.

Stocks’ jump higher on Thursday came despite a rise in Covid cases, as well as disappointing economic data. Jobless claims totaled 885,000 last week, hitting their highest level since early September, and coming in above the expected print of 808,000. Meanwhile, data released on Wednesday showed retail sales falling 1.1% in November, larger than the 0.3% decline expected by economists.

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Plan A : Short if market failed to support above 12669. Targets are 12629, 12588 and 12547.

Plan B : Long if market doesn't retrace much and supported firm above 12669. Targets are 12695, 12731 and 12756.
 

 

HSI
 
Hong Kong shares ended higher on Thursday as global investor sentiment got a boost from the prospects of additional U.S. fiscal 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 26509. Targets are 26727 and 26946.
 
Plan B : Consider selling only if market surges but fails to breach above 26727. Targets are 26622 and 26509.
 
 
 
WTI Crude
 
Oil climbed on Thursday and touched a nine-month high, with traders optimistic about progress toward a U.S. fiscal stimulus deal and strong Asian demand.
 

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Plan A : Remain buy as long as oil price trades firmly above 48.2. Targets are 48.6 and 49.4  

Plan B : Consider sell only if oil price surges but fails to breach above 48.6. Targets are 47.4 and 46.8

 
 
Gold
 
Gold prices rose over 1% to a one-month peak on Thursday as the dollar spiralled lower on hopes of more coronavirus relief aid and the U.S. Federal Reserve's pledge to funnel more cash and keep interest rates pinned low.
 

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Plan A : Remain buy as long as gold price trades firmly above 1885. Targets are 1902 and 1910.
 
Plan B : Consider sell only if market surges but fails to breach above 1902. Targets are 1885 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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