Highlights

Where Futures Lies

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

 

Daily Futures Trading Strategy 21 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

 
U.S. stocks ended lower on Friday, pulled down by uncertainty around a coronavirus stimulus deal, while Tesla shares jumped in heavy trading in anticipation of their addition to the S&P 500 next week.
 

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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 falls back below 30255. Targets are 30145 and 29899.
 
 
E-Mini S&P 500
 

Stocks slipped from record highs in volatile trading on Friday as lawmakers struggled to bridge differences on additional coronavirus stimulus measures.

The S&P 500 dipped 0.4%, or 13.07 points, to 3,709.41, snapping a three-day winning streak. 

Senate Majority Leader Mitch McConnell and Minority Leader Chuck Schumer said lawmakers have reached an agreement on a $900 billion relief package, which would provide direct payments and jobless aid to struggling Americans. The announcement came after negotiators resolved a key sticking point by rolling back the Federal Reserve’s emergency lending powers.

Congress passed a one-day spending bill to avoid a government shutdown that would have started at 12:01 a.m. ET Monday. President Donald Trump signed the measure late Sunday evening, according to White House spokesman Judd Deere.

Lawmakers will vote on the relief and funding bill on Monday.

Investors were betting that a rise in Covid cases as well as disappointing economic data would push lawmakers to cement a new aid package. Jobless claims last week hit their highest level since early September, while retail sales fell more than anticipated in November.

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Plan A : Short if market failed to support above 3680. Targets are 3655, 3628 and 3603.

Plan B : Long if market doesn't retrace much and supported firm above 3680. Targets are  3695, 3708 and 3727.
 


 
E-Mini Nasdaq
 

Stock futures held steady in early morning trading on Monday as Congress managed to seal a coronavirus stimulus deal hours before a shutdown deadline.

The Nasdaq Composite lost 0.1%, or 9.11 points, to 12,755.64. 

The major averages have recently risen to record highs amid optimism toward fresh coronavirus stimulus as well as the vaccine rollout. Moderna is shipping its first batch of vaccine doses after receiving approval for emergence use from the FDA. Meanwhile, the vaccines by Pfizer and BioNTech are being distributed to front-line health care workers around the country. 

With only two trading weeks left in 2020, the Nasdaq Composite has rallied 42.2% this year as investors favored high-growth technology companies.

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Plan A : Short if market failed to support above 12692. Targets are 12655, 12610 and 12570.
 
Plan B : Long if market doesn't retrace much and supported firm above 12692. Targets are 12720, 12752 and 12785.

 
 
HSI
 
Hong Kong stocks closed lower on Friday, as market sentiment soured on news that the United States is set to add dozens of Chinese companies to a trade blacklist, ramping up tensions between Washington and Beijing.
 

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Plan A : Attempt buy if market trades firmly above 26509. Targets are 26727 and 26946.
 
Plan B : Consider selling only if market stays below 26509. Targets are 26420 and 26238.
 
 
WTI Crude
 
Oil hit a nine-month high on Friday and was headed for a seventh straight weekly gain as investors focused on the rollout of COVID-19 vaccines and looked past rising coronavirus cases across the world.
 

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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 49.4. Targets are 48.2 and 47.4

 
 
Gold
 
Gold prices slipped on Friday after three days of gains as the dollar's rebound offset support from hopes of a U.S. fiscal stimulus package.
 

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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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