Highlights

Where Futures Lies

Author: Futurescoin   |   Latest post: Thu, 4 Mar 2021, 3:17 AM

 

Daily Futures Trading Strategy 15 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 closed lower on Thursday after making a U-turn toward the end of the session as reported emerged about U.S. President-elect Joe Biden's pandemic aid proposal following earlier data that showed a weakening labor market.
 

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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 fell slightly on Thursday, with tech shares declining, as traders awaited the unveiling of a potentially big economic stimulus package.

The S&P 500 closed 0.4% lower at 3,795.54.

President-elect Joe Biden is expected on Thursday evening to unveil a stimulus plan that will include a boost to the recent $600 direct payments, an extension of increased unemployment insurance and support for state and local governments. The stimulus could be as big as $2 trillion, CNN reported. The New York Times, meanwhile, said Biden is expected to outline a $1.9 trillion spending plan.

Sentiment got a boost earlier in the session as trial data published late Wednesday showed that Johnson & Johnson’s one-dose coronavirus vaccine is safe and generates a promising immune response. Shares of Johnson & Johnson climbed 1.8%.

However, investors also digested worse-than-expected jobless claims data. First-time claims for unemployment insurance jumped to 965,000 last week, higher than an estimate of 800,000 new claims, according to economists surveyed by Dow Jones.


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Plan A : Short if market failed to support above 3766. Targets are 3741, 3710 and 3688.

Plan B : Long if market retraced but supported firm above 3766. Targets are 3784, 3805 and 3822.
 


E-Mini Nasdaq
 
Stock futures were lower early Friday morning after President-elect Joe Biden announced details of a $1.9 trillion stimulus plan, one of the top agenda items when his administration begins next week.

The Nasdaq Composite dipped 0.1% to 13,112.64 after hitting an all-time high earlier in the session. Shares of Facebook dropped 2.4%. Amazon, Netflix, Microsoft and Apple all declined by more than 1%. Alphabet dipped 0.9%.

Biden’s proposal, called the American Rescue Plan, includes increasing the additional federal unemployment payments to $400 per week and extending them through September, direct payments to many Americans of $1,400, and extending the federal moratoriums on evictions and foreclosures through September.

The plan also calls for $350 billion in aid to state and local governments, $70 billion for Covid testing and vaccination programs and raising the federal minimum wage to $15 per hour.

On Friday, investors will get fresh looks at major banks as Wells Fargo, Citigroup and JPMorgan Chase report their fourth quarter earnings. There will also be new data on retail sales and inflation.

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Plan A : Short if market failed to support above 12886. Targets are 12844, 12802 and 12760.

Plan B : Long if market supported firm above 12886. Targets are 12915, 12947 and 12979.

 

 
HSI
 
Hong Kong shares ended at a nearly one-year high on Thursday, after the Trump administration decided to scrap a planned investment ban involving Alibaba and Tencent, while reports of a possible big U.S. stimulus package also boosted sentiment.
 

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Plan A : Remain buy as long as market trades firmly above 28396. Targets are 28555 and 28610.

Plan B : Consider short if market surges but fails to breach above 28610. Targets are 28476 and 28396.

 
 
WTI Crude
 
Oil prices edged higher on Thursday, boosted by a weak dollar and bullish signals from Chinese import data but pressured by renewed worries about global oil demand due to surging coronavirus cases in Europe and new lockdowns in China.
 

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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 surges but fails to breach and hold firm above 53.6. Targets are 52.8 and 51.5

 
 
Gold
 
Gold prices rose on Thursday after comments by U.S. Federal Reserve Chair Jerome Powell cemented hopes around a lower interest rate environment, while prospect of more U.S. stimulus further lifted bullion's appeal as an inflation hedge.
 

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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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