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Where Futures Lies

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

 

Daily Futures Trading Strategy 10 February 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 Dow ended slightly lower on Tuesday, breaking their six-day streak of gains, as investors rotated out of large-cap tech names into other sectors.

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Plan A : Remain buy as long as market trades firmly above 30980. Targets are 31311 and 31422.

Plan B : Consider short only if market surges but fail to breach above 31340. Targets are 31155 and 30990.

 

E-Mini S&P 500

The S&P 500 dipped slightly from a record high on Tuesday as the market’s strong rally in February took a pause.

The broad equity benchmark fell 0.1% to 3,911.23, halting a six-day winning streak. 

Investors could be taking some chips off the table following a strong rally boosted by optimism for a smooth reopening amid the Covid vaccine rollout. Cyclical sectors, which had outperformed in recent weeks, led the declines. Energy fell 1.5%, paring its month-to-date gains to 11.1%. Materials also registered losses.

Lawmakers in Washington appear to be moving closer to another economic relief bill. House Democrats unveiled the details of a relief proposal that included $1,400 direct checks with faster phase-outs than previous bills.

The Consumer Price Index report is scheduled to be released at 8:30 a.m. ET Wednesday.

Economists expect a consensus 0.3% increase in the index, a measure of inflation, or a year-over-year gain of 1.5%, according to Dow Jones. Excluding food and energy, it is projected to rise by 0.1%.


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Plan A : Long if market supported firm above 3914. Targets are 3929, 3945 and 3960.

Plan B : Short if market failed to support above 3914. Targets are 3890, 3868 and 3843. 

 

E-Mini Nasdaq

U.S. stock rose slightly in early morning trading on Wednesday following the regular session that snapped a six-day winning streak on Wall Street.

The Nasdaq Composite bucked the downtrend to end 0.1% higher at a record close of 14,007.70.

Better-than-expected earnings from Twitter, Lyft, Cisco Systems, Mattel and Yelp boosted sentiment on Wall Street. Lyft reported signs of a recovery from the Covid-19 pandemic.

The Nasdaq Composite was the relative outperformer, gaining 0.15% as Facebook, Microsoft and Netflix all closed higher.

Earnings season continues on Wednesday with Coca-Cola, General Motors and Under Armour set to report before the opening bell.

Uber Technologies and MGM Resorts report earnings after the bell on Wednesday.

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Plan A : Long if market supported firm above 13724. Targets are 13755, 13789 and 13820.

Plan B : Short if market failed to support above 13724. Targets are 13685, 13641 and 13600.

 

HSI

Hong Kong shares ended higher on Tuesday with energy stocks leading gains, following rising oil prices as investors were reassured by quicker economic recovery.

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Plan A : Remain buy as long as market trades firmly above 29315. Targets are 29438 and 29870.

Plan B : Consider short only if market surges but fails to breach above 29608. Targets are 29338 and 29135.

 

WTI Crude

Oil hit 13-month highs on Tuesday with the Brent benchmark staying above $60 a barrel, supported by supply cuts, a weak dollar and optimism over a recovery in fuel demand.

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Plan A : Remain buy as long as oil price trades firmly above 57.6. Targets are 58.3 and 59.4.

Plan B : Consider short if oil price fails to breach above 58.5 and retrace. Targets are 57.6 and 56.5.
 

Gold

Gold jumped 1% to a one-week high on Tuesday, as a sliding dollar and hopes of more U.S. fiscal stimulus bolstered its appeal among investors seeking an inflation hedge.

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 long as long as gold price stays firm above 1814.1. Targets are 1837.7 and 1845.9

Plan B : Consider short if gold price surges but fails to breach above 1837.7. Targets are 1830 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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