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Where Futures Lies

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

 

Daily Futures Trading Strategy 17 February 2021

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

 

 
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E-Mini Dow

 
The DJIA notched a record closing high on Tuesday as cyclical sectors gained on the prospect of more fiscal aid to lift the U.S economy from a coronavirus-driven slump.
 

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Plan A : Remain buy as long as market trades firmly above 31326. Targets are 31622 and 31863.
 
Plan B : Consider short only if market surges but fail to breach above 31622. Targets are 31422 and 31339.
 

 
E-Mini S&P 500
 

The S&P 500 reversed lower in volatile trading on Tuesday, slipping from a record high as rising bond yields kept investors on edge.

The broad equity benchmark erased a 0.4% gain to close 0.1% lower at 3,932.59.  

The 10-year Treasury yield jumped 9 basis points Tuesday to top 1.30%, a level not seen since February 2020. The 30-year rate also hit its highest level in a year. Many on Wall Street believe that surging interest rates could make the high-flying equity market less attractive, while posing a threat to sectors like tech that have benefited from the low-rate environment.

The benchmark 10-year Treasury yield, used as a barometer for mortgages, student loans and credit card annual percentage rates, wallowed around 0.6% for much of 2020. Many worry that a rebound in rates could hinder the economic recovery from the pandemic-induced recession as companies and consumers may find it increasingly expensive to borrow. Others wonder if an deluge of fiscal stimulus could spark a rise in prices after a decade of dormant inflation.


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Plan A : Long if market doesn't retrace much and supported firm above 3914. Targets are 3930, 3942 and 3961.

Plan B : Short if market failed to support above 3914. Targets are 3890, 3868 and 3841.

 

E-Mini Nasdaq
 

U.S. stock index futures were modestly lower in overnight trading on Tuesday after the Dow closed at a record high.

The tech-heavy Nasdaq Composite fell 0.3% to 14,047.50. Apple had the most negative impact on the tech-heavy index, sliding 1.6%.

On the earnings front, Hilton is set to report quarterly results on Wednesday before the market opens, while Owens Corning, Wingstop, Analog Devices and Nabors are among the names on the docket after the closing bell.

Investors will also get a sense of the ongoing economic recovery when January retails sales are released at 8:30 a.m. ET Wednesday. Economists surveyed by Dow Jones are expecting sales to be up 1.2% for the month, following an unexpected decline of 0.7% in December.
 

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Plan A : Long if market retraced but supported firm above 13731. Targets are 13762, 13795 and 13823.
 
Plan B : Short if market failed to support above 13731. Targets are 13690, 13648 and 13607.
 
 
 
HSI
 
Hong Kong stocks closed higher on Tuesday, marking a bull run on the first day of trading after the Lunar New Year holidays with investors tracking strength in overseas market on optimism over global economic recovery.

 
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Plan A : Remain buy as long as market trades firmly above 30421. Targets are 30709 and 30805.

 
Plan B : Consider selling if market fails to breach above 30709. Targets are 30500 and 30421.
 

 
WTI Crude
 
Oil prices rose on Thursday as a cold front shut wells and refineries in Texas, the biggest crude producing state in the United States, the world's biggest oil producer.
 
 
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Plan A : Remain buy as long as oil price trades firmly above 59.4. Targets are 60.4 and 61.3.
 

Plan B : Consider short if oil price surges but fails to breach above 60.4. Targets are 59.4 and 58.4.

 

 
Gold
 
Gold prices fell as much as 1.7% on Tuesday to their lowest in more than a week on stronger U.S. Treasury yields.
 
 
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 gold price trades below 1795.1. Targets are 1785 and 1776.
 
Plan B : Consider long only if gold price able to climb back and stays strong above 1795.1. Targets are 1814.1 and 1837.7
 
 
 
 
 

 

 

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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