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Where Futures Lies

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

 

Daily Futures Trading Strategy 14 January 2021

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

 

 
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E-Mini Dow

 
Wall Street's benchmark S&P 500 index closed slightly higher on Wednesday while Dow lost 8-points  with defensive sectors leading gains as investors waited for details of the next U.S. fiscal stimulus plan and Congress began President Donald Trump's impeachment hearings.

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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
 

The S&P 500 and Nasdaq Composite closed slightly higher on Wednesday, led by tech shares, as traders kept an eye on interest rates, the political uncertainty coming out of Washington and a still raging pandemic.

The broader market index gained 0.2% to end the day at 3,809.84.

Wednesday’s moves came as U.S. Treasury rates eased from their March highs. The benchmark 10-year note yield fell more than 5 basis points to 1.092%. The 30-year bond yield also fell on Wednesday to 1.823%. On Tuesday, the benchmark rate traded as high as 1.187%.

Despite this decline, the 10-year rate remains more than 15 basis points above its 2020 close of 0.92%.

Given the rise in rates this year, Credit Suisse recommended that investors favor pro-cyclical sectors, including financials and energy. Rising rates could hurt growth stocks, however, which have been the market stalwarts during the pandemic.

Expectations for additional fiscal stimulus is one of the reasons behind the steady move higher in yields. President-elect Joe Biden is expected to release details on his economic plan on Thursday.

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Plan A : Short if market failed to support above 3805. Targets are 3780, 3752 and 3722.

Plan B : Long only if market supported firm above 3805. Targets are 3821, 3838 and 3850.
 

E-Mini Nasdaq
 

U.S. stock futures were mixed early Thursday morning as traders kept an eye on interest rates and lingering turmoil in Washington.

The tech-heavy Nasdaq advanced 0.4% to 13,128.95. Intel jumped nearly 7% on news that CEO Bob Swan would step down, effective Feb. 15. Other tech-related names also caught a bid, with Netflix and Amazon popping 2.7% and 1.4%, respectively. Apple also closed higher by more than 1%.

Wednesday’s gains for the S&P 500 and Nasdaq came after Intel rallied nearly 7% to lead tech stocks higher. They also followed U.S. interest rates easing from their highest levels since March 2020.

Rates have been rising this year amid the prospects of increased U.S. fiscal stimulus after the Democrats secured majorities in both the House and Senate. Inflation expectations have also been picking up recently.

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Plan A : Short if market failed to support above 12947. Targets are 12907, 12865 and 12822.

Plan B : Long if market failed to support above 12947. Targets are 12978, 13010 and 13041.

 
 
HSI
 
Hong Kong shares ended lower on Wednesday, with consumer shares leading the declines, as investors paused after a rally fueled by the south-bound bargain hunting from  mainland investors.
 

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Plan A : Remain buy as long as market trades firmly above 28150. Targets are 28396 and 28555..

Plan B : Consider short if market surges but fails to breach above 28396. Targets are 28140 and 27940.

 
 
WTI Crude
 
Oil prices were little changed on Wednesday, supported by a bigger-than-expected drop in U.S. crude inventories but under pressure as rising global COVID-19 cases threatened global fuel demand.
 

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Plan A : Remain buy as long as oil price stays firm above 52.8. Targets are 53.6 and 54.2

Plan B : Consider short if oil price fails to hold above 52.8. Targets are 51.5 and 50.3

 
 
Gold
 
Gold prices held steady on Wednesday, underpinned by data showing a rise in consumer prices in the United States and expectations that more fiscal stimulus from a Joe Biden administration could trigger higher inflation.
 

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Plan A : Remain short as long as gold price trades below 1860.6. Targets are 1836.6 and 1806.8.
 
Plan B : Consider buy only if gold price trades firmly above 1836.6. Targets are 1849 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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