Highlights

Where Futures Lies

Author: Futurescoin   |   Latest post: Thu, 25 Feb 2021, 3:25 AM

 

Daily Futures Trading Strategy 5 February 2021

Author:   |    Publish date:


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

 

 
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E-Mini Dow

 
U.S. stocks rose more than 1% on Thursday and the S&P 500 and Nasdaq posted record closing highs after another batch of upbeat earnings and data suggesting the labor market may be stabilizing.
 

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Plan A : Remain buy as long as market trades firmly above 30746. Targets are 30990 and 31188.
 
Plan B : Consider short only if market recovers but fail to breach above 30990. Targets are 30746 and 30542.

 
 
E-Mini S&P 500
 

U.S. stocks jumped on Thursday, extending the rally into a fourth straight day as investors assessed a new batch of corporate earnings and solid economic data.

The S&P 500 climbed 1.1% to a record closing high of 3,871.74, supported by communication services and financials. 

A better-than-expected jobless claims report helped boost sentiment. First-time claims for unemployment insurance totaled 779,000 for the week ended Jan. 30, below the 830,000 estimate from economists surveyed by Dow Jones.

Investor awaited the release of January jobs report on Friday morning. Economists surveyed by Dow Jones expect the U.S. labor market to add a total of 50,000 jobs last month, following a decline of 140,000 in December.

Wall Street is in the middle of a solid earnings season. Of the 184 companies in the S&P 500 that have reported earnings to date, 84.2% topped analyst expectations, according to Refinitiv.
 

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Plan A : Long if market supported firm above 3872. Targets are 3887, 3905 and 3921.

Plan B : Short if market failed to support above 3872. Targets are 3847, 3821 and 3790.
 

 
E-Mini Nasdaq
 

Stock futures were higher in early morning trading on Friday, following a four-day winning streak on Wall Street as investors awaited a closely-watched January jobs report.

The Nasdaq Composite jumped 1.2% to 13,777.74, also reaching a new high.

Many on Wall Street remain optimistic that the vaccine rollout, coupled with easy monetary policy and potentially more fiscal support, will sprout stronger growth in earnings and drive the market to new highs.

On the stimulus front, Democrats are moving forward with President Joe Biden’s $1.9 trillion Covid-19 relief proposal. Republicans have countered with a more modest $618 billion package, which includes new stimulus checks of $1,000 per person.

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Plan A : Short if market failed to support above 13573. Targets are 13533, 13490 and 13449.
 
Plan B : Long if market supported firm above 13573. Targets are 13603, 13635 and 13660. 

 
 
HSI
 
Hong Kong stocks closed lower on Thursday, on weakness in tech shares and worries about recent tighter liquidity conditions in mainland Chinese markets.
 
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for February subscription.
 

Plan A : Attempt sell if market trades below 29220. Targets are 29056 and 28980. 

Plan B : Consider long only if market supported above 29018 and rebound. Targets are 29135 and 29220.

 
 
WTI Crude
 
Oil rose on Thursday on strong U.S. economic data, falling inventories and the OPEC+ decision to stick to its output cuts, but a stronger U.S. dollar limited prices.
 
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for February subscription.
 

Plan A : Remain buy as long as oil price trades firmly above 55.5. Targets are 56.5 and 57.6.

Plan B : Consider short if oil price fails to breach above 56.5 and retrace. Targets are 55.5 and 54.6.

 
 
Gold
 
Gold dropped more than 2% on Thursday to break below the key psychological $1,800 level as a rising dollar and U.S. Treasury yields eroded bullion's appeal.
 
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for February subscription.
 
Plan A : Remain short as long as gold price stays below 1814.1. Targets are 1795.1 and 1776.

Plan B : Consider long only if market trades firmly above 1795.1 and rebound. Targets are 1806 and 1814.1

 
 
 

 

 

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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