Highlights

Where Futures Lies

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

 

Daily Futures Trading Strategy 8 February 2021

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

 

 
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E-Mini Dow

 
U.S. stocks extended their recent rally on Friday and the S&P 500 and Nasdaq indexes scored their biggest weekly percentage gains since the U.S. elections in early November, boosted by optimism over earnings, stimulus talks and progress on vaccine rollouts. Dow on the other hand, gained 92-points to settle at 31148 on Friday.
 

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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 surges but fail to breach above 31188. Targets are 30990 and 30746.
 
 
 
E-Mini S&P 500
 

U.S. stocks climbed on Friday, wrapping up a strong week on Wall Street as investors hoped a disappointing January jobs report would increase the likelihood of further stimulus.

The S&P 500 climbed 0.4% to a record close of 3,886.83 as 10 of the 11 sectors posted gains. The S&P 500 closed at a record high on Friday and posted its fifth straight positive session for the first time since August. 

The Labor Department said the U.S. added 49,000 jobs in January, slightly below the 50,000 payrolls expected by economists. The unemployment rate fell to 6.3%, better than projections of 6.7%. December’s numbers were revised much lower, with the month posting a loss of 227,000 from the initial reading of 140,000 jobs lost.

Wall Street was also 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.

Meanwhile, another busy week of earnings is on deck with 78 S&P 500 components set to report quarterly results. Among the names on deck are Cisco, Twitter, Yelp, Uber, MGM, Mattel, GM, Coca-Cola and Disney.

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Plan A : Long if market supported firm above 3889. Targets are 3905, 3920 and 3938.

Plan B : Short if market failed to support above 3889. Targets are 3864, 3835 and 3808.

 
 
E-Mini Nasdaq

U.S. stock index futures rose in early morning trading Monday, as the major averages looked to accelerate gains following the best week since November.

On Friday, the Nasdaq Composite advanced 0.6% to 13,856.30, also hitting a fresh closing high. The Nasdaq Composite registered its fourth positive session on Friday. 

The Senate and House each passed a budget resolution on Friday, starting the reconciliation process that would allow President Joe Biden’s $1.9 trillion rescue package to get through the Democratic-held Senate with a simple majority.

Treasury Secretary Janet Yellen said Sunday that if Biden’s stimulus plan is passed the U.S. could return to full employment by 2022.

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

Plan A : Long if market supported firm above 13647. Targets are 13678, 13710 and 13741.

Plan B : Short if market failed to support above 13647. Targets are  13610, 13569 and 13520.

 

 
HSI
 
Hong Kong stocks closed higher on Friday, helping the indexes post their best weekly performance in three months, following persistent buying activity from mainland investors.
 
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 long if market trades firmly above 29135. Targets are 29438 and 29870.

Plan B : Consider short only if market surges but fails to breach above 29438. Targets are 29238 and 29135.
 

 
 
WTI Crude
 
Oil prices hit its highest in a year on Friday, closing in on $60 a barrel, supported by economic revival hopes and supply curbs by producer group OPEC and its allies.
 
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 56.5. Targets are 57.6 and 59.4.

Plan B : Consider short if oil price fails to breach above 57.6 and retrace. Targets are 56.5 and 55.5.
 

 
 
Gold
 
Gold rebounded above the $1,800 psychological level on Friday, helped by a retreat in the dollar and data showing slower-than-expected growth in U.S. employment underpinning the need for additional financial support.
 
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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