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Where Futures Lies

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

 

Daily Futures Trading Strategy 18 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 main indexes finished lower on Friday, weighed down by big U.S. banks after their earnings reports, while the energy fell sharply due to a regulatory probe into Exxon Mobil Corp.
 

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Plan A : Attempt sell if market stays below 30831. Targets are 30510 and 30256.
 
Plan B : Consider long only if market able to hold firm above 30510 and rebound. Targets are 30730 and 30831.
 
 
 
E-Mini S&P 500
 

Wall Street's main indexes fell on Friday as incoming President Joe Biden's US$1.9 trillion stimulus plan sparked fears of an increase in taxes, while investors parsed quarterly reports from major US lenders.

The S&P 500 lost 9.71 points or 0.26% to 3,785.83. Energy dropped 4%, posting its worst one-day decline since late November, pressuring the S&P 500.

Wall Street's main indexes are set to wrap up the week slightly lower after climbing to record highs recently, driven by growth-sensitive cyclical stocks on bets of a hefty fiscal package and optimism about vaccine distribution.

Six of the 11 major S&P sectors fell with energy, financials, industrials posting the steepest declines.

Meanwhile, data showed a further decline in US retail sales in December — the latest sign the economy lost considerable speed at the end of 2020.


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Plan A : Long if market doesn't retrace much and supported firm above 3738. Targets are 3753, 3769 and 3788.

Plan B : Short if market failed to support above 3738. Targets are 3713, 3685 and 3660.

 

E-Mini Nasdaq

Stocks fell on Friday to close out a tough week as traders weighed President-elect Joe Biden’s $1.9 trillion stimulus plan along with the latest earnings from some of the biggest U.S. banks.

The Nasdaq Composite slid 0.9% to end the day at 12,998.50. The Nasdaq posted weekly declines of 1.5%, to snap four-week winning streaks.

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 minimun wage to $15 per hour.

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Plan A : Short if market failed to support above 12808. Targets are 12769, 12725 and 12680.

Plan B : Long if market doesn't retrace much and supported firm above 12808. Targets are 12838, 12869 and 12901.

 
 
HSI
 
Hong Kong stocks hit a near one-year closing high on Friday, posting their straight third weekly gains, buoyed by robust mainland inflows via the Stock Connect.
 

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Plan A : Remain buy as long as market trades firmly above 28430. Targets are 28555 and 28630.

Plan B : Consider short if market falls below 28543. Targets are 28430 and 28390.

 
 
WTI Crude
 
Oil prices fell more than 2% on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world's biggest crude importer and U.S. plans for a large stimulus package.
 

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Plan A : Attempt short if oil price trades below 52.8. Targets are 52.0 and 51.5

Plan B : Consider long only if oil price tests and rebounds from 51.5. Targets are 52.0 and 52.8

 
 
Gold
 
Gold prices slumped more than 1% on Friday and the metal was heading for a second straight weekly drop as the dollar continued its upturn, overshadowing bullion's appeal as an inflation hedge as the United States rolls out more stimulus.
 

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Plan A : Remain short as long as gold price trades below 1836.6. Targets are 1806.8 and 1797.
 
Plan B : Consider buy only if gold price trades firmly above 1806.8. Targets are 1830 and 1836.6.
 

 

 

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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