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

 

Daily Futures Trading Strategy 11 January 2021

Author:   |    Publish date:


   WTI Crude, Gold, HSI, Dow,             S&P 500 and Nasdaq

 

 
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E-Mini Dow

 
Wall Street scaled new highs on Friday as hopes of more stimulus from Washington were shaken a bit by a senator's comments but later bolstered after U.S. President-elect Joe Biden said his economic package will be in the trillions of dollars.
 

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Plan A : Remain buy as long as market stays firm above 30831. Targets are 31090 and 31406.
 
Plan B : Consider short only if market surges but fails to breach above 31090. Targets are 30960 and 30831.
 
 
 
E-Mini S&P 500
 

Stocks closed at record highs on Friday to end the first trading week of the year as traders weighed the prospects of new fiscal aid as well as disappointing U.S. jobs data.

The S&P 500 rose 0.6% to 3,824.68. The S&P 500 posted four-day winning streaks. The consumer discretionary and real estate sectors each rose more than 1%, lifting the S&P 500. 

Stocks hit their session lows around 1:40 p.m. ET — with the Dow briefly falling more than 200 points — after Democratic Sen. Joe Manchin told The Washington Post he would “absolutely not” support a round of $2,000 stimulus checks. President-elect Joe Biden had promised to pass a measure for bigger stimulus checks if Democrats secured a Senate majority, which they did earlier this week.

The U.S. economy lost 140,000 jobs in December, the Labor Department said. Economists polled by Dow Jones expected a gain of 50,000.

The unexpected drop in employment came as the recent surge in Covid-19 cases across the country has forced state and local governments to re-take stricter measures to mitigate the outbreak. 
 

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Plan A : Short if market failed to support above 3791. Targets are 3765, 3741 and 3710.

Plan B : Long if market doesn't retrace much and supported firm above 3791. Targets are 3809, 3825 and 3838.


 
 
E-Mini Nasdaq
 

Stock futures fell in early morning trading Monday as investors assessed the outlook for more Covid-19 relief stimulus.

The Nasdaq Composite popped 1% to 13,201.98. The Nasdaq got a boost from Tesla, which rose 7.8%.

The stock market is coming off a solid week to start 2021 as investors looked past a violent siege of the Capitol and focused on the prospect for additional fiscal stimulus after a Democratic sweep of Congress. The tech-heavy Nasdaq Composite gained 2.4% in the prior week, also reaching all-time highs.

President-elect Joe Biden pledged Friday a hefty economic stimulus rollout, which he said will be “in the trillions of dollars.” More details will follow in a formal announcement on Thursday, six days before he is slated to take office.

Last week, the benchmark 10-year Treasury yield broke above 1% for the first time since the pandemic-driven turmoil in March.
 

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Plan A : Short if market failed to support above 12994. Targets are 12955, 12910 and 12871.

Plan B : Long if market doesn't retrace much and supported firm above 12994. Targets are 13025, 13056 and 13088.

 

 
HSI
 
Hong Kong stocks closed at a near 11-month high on Friday, boosted by hopes of an economic recovery later in the year and gains in other Asian markets.
 

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Plan A : Attempt buy if market trades firmly above 27714. Targets are 27940 and 28396.
 

Plan B : Consider short if market surges but fails to breach above 27940. Targets are 27850 and 27740.
 
 
 
WTI Crude
 
Oil prices hit their highest level in nearly a year and were on track for a weekly gain on Friday, supported by Saudi Arabia's pledge to cut output and strong gains in major equity markets.
 

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Plan A : Remain buy as long as oil price stays firm above 51.5. Targets are 52.8 and 53.6

 

Plan B : Consider short if oil price surges but fails to breach above 52.8. Targets are 52.1 and 51.5


 
 
Gold
 
Gold slumped more than 4% on Friday as prospects for a smooth transition of power in Washington and a jump in U.S. Treasury yields hammered the precious complex.
 

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

Plan A : Remain short as long as gold price trades below 1884.6. Targets are 1836.6 and 1806.8.

 
Plan B : Consider buy only if gold price test and rebound from 1806.8. Targets are 1836.6 and 1860.6.
 
 
 

 

 

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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