Highlights

Where Futures Lies

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

 

Daily Futures Trading Strategy 22 January 2021

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

 

 
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E-Mini Dow

 
The S&P 500 and Nasdaq closed at record highs on Thursday, propelled by optimism about more pandemic relief under the Biden administration to support the economy after data showed a tepid labor market recovery. The Dow was also poised for a record until falling into negative territory in the final minutes of trading.
 

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Plan A : Attempt long if market trades firmly above 30831. Targets are 31115 and 31406.
 
Plan B : Consider short only if market surges but fails to breach above 31150. Targets are 31070 and 30831.
 
 

E-Mini S&P 500

Contracts tied to the major U.S. stock indexes slipped early Friday morning as Wall Street appeared headed to close out the record-setting week on a muted note.

The S&P 500 had more muted sessions, up less than 0.1% to eke out another fresh high.

Hopes for a robust earnings season from the country’s largest communications and tech stocks have kept the mega-cap stocks trending upward, and the major indexes near records, during the holiday-shortened week.

Wall Street’s eyes are still turned toward Washington as new President Joe Biden works to lay the early foundation of his Covid-19 and economic recovery agenda.

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Plan A : Short if market failed to support above 3811. Targets are 3786, 3759 and 3731.

Plan B : Long if market supported firm above 3811. Targets are 3827, 3845 and 3860.
 

E-Mini Nasdaq

The Nasdaq Composite rose to another record on Thursday as investors bet on strong earnings from big tech companies next week.

The tech-heavy benchmark climbed 0.6% to close at a new high of 13,530.91 as Apple shares popped 3.7%. 

Apple’s jump came after top analyst Katy Huberty from Morgan Stanley said she expects a record December quarter print for the tech giant. Optimism is rising that major technology companies will impress Wall Street when they hand in earnings reports next week. Apple and Facebook have risen 7.7% and 8.6%, respectively, this week ahead of their quarterly results, while Microsoft has gained 5.8%.

Biden released details of his Covid plan on his first full day in office, including 10 executive orders and his intent to use the Defense Production Act to ramp up protective equipment production. Biden will seek to accelerate the rollout of vaccines by providing more local and state funding, creating more vaccination sites and launching a national education campaign.

Thursday’s action came after a better-than-expected reading on jobless claims. First-time claims for unemployment insurance totaled 900,000 for the week ended Jan. 16, lower than an estimate of 925,000 according to economists surveyed by Dow Jones.

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Plan A : Short if market failed to support above 13330. Targets are 13289, 13251 and 13205.

Plan B : Long if market supported firm above 13330. Targets are 13361, 13394 and 13422.
 

 
HSI
 
Hong Kong stocks ended lower on Thursday, snapping a five-day winning steak, as investors locked in profit following sharp gains helped by strong demand from mainland investors.
 

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Plan A : Remain buy as long as market trades firmly above 29790. Targets are 29970 and 30130.

 
Plan B : Consider short only if market surges but fails to breach above 29970. Targets are 29870 and 29750.
 
 
 
WTI Crude
 
Oil prices slipped on Thursday after industry data showed a surprise increase in U.S. crude inventories that revived pandemic-related fuel demand concerns, while U.S. stimulus hopes buoyed prices.
 

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Plan A : Attempt buy as long as oil price trades firmly above 52.8. Targets are 53.6 and 54.2.

Plan B : Consider short if oil price surges but fails to breach above 53.6. Targets are 52.8 and 51.5.

 
 
Gold
 
Gold prices eased from a two-week high on Thursday as investors booked some profit following a rally in the previous session, while expectations for further stimulus and a weaker U.S. dollar limited losses.
 

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

 
Plan A : Long if gold price trades firmly above 1860.6. Targets are 1872.4 and 1884.6.

 
Plan B : Consider short if gold price once again falls below 1860.6. Targets are 1836.6 and 1806.8.
 
 
 

 

 

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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