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Where Futures Lies

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

 

Daily Futures Trading Strategy 22 February 2021

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

 

 
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E-Mini Dow

 
Stocks on Wall Street closed near break-even on Friday as investors sold technology shares that have rallied through the pandemic and rotated into cyclical stocks set to benefit from pent-up demand once the coronavirus pandemic is subdued.
 

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Plan A : Attempt buy if market trades firmly above 31422. Targets are 31622 and 31863.
 
Plan B : Consider short only if market fails to hold above 31422. Targets are 31339 and 31228.
 
 
 
E-Mini S&P 500
 

Stocks came under pressure Friday afternoon, reversing early gains.

The S&P 500 finished down 0.19% at 3,906.71.

Though the major indexes traded higher for most of the morning, a combination of rising interest rates and profit taking in some of the market’s largest technology companies appeared to dampen optimism after noon.

Cyclical stocks outperformed the broader market with the materials, energy and industrials sectors up 1.8%, 1.7% and 1.6%, respectively. Utilities and consumer staples stocks were among the biggest laggards.

Not all of technology underperformed as chipmakers proved resilient. Applied Materials, which makes the equipment used to manufacture semiconductors, gave a better-than-expected second-quarter forecast after the bell Thursday. The shares gained 5.3% Friday.

Some investors have said pessimism over a jump in interest rates and the potential for inflation have kept Wall Street in check in recent sessions. The 10-year Treasury yield this week rose to the highest in nearly a year, and on Friday rose another 5 basis points to 1.34%.

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Plan A : Short if market failed to support above 3857. Targets are 3835, 3807 and 3781.
 
Plan B : Long if market supported firm above 3857. Targets are 3875, 3888 and 3905.
 

 

E-Mini Nasdaq
 

Stock futures held steady in overnight trading on Sunday after the S&P 500 posted its first losing week in three.

The Nasdaq Composite gained less than 0.1% to finish at 13,874.46.

Some equity investors grew concerned about rapidly rising bond yields in recent weeks as they could especially hurt high-growth companies reliant on easy borrowing while diminishing the relative appeal of stocks.

The market is headed into the final week of February with solid gains. The Dow and the S&P 500 have risen more than 5% this month, while the Nasdaq has climbed 6.2%. The small-cap Russell 2000 outperformed with a 9.3% gain this month.

On the pandemic front, the White House said that it expects to ship out millions of delayed coronavirus vaccine doses this week after a sweeping winter storm disrupted logistics. 

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Plan A : Short if market failed to support above 13392. Targets are 13355, 13312 and 13270.

 
Plan B : Long if market retraced but supported firm above 13392. Targets are 13420, 13458 and 13491.
 
 
 
HSI
 
Hong Kong shares ended higher on Friday to deliver the third weekly gain, underpinned by material stocks, as investors cheered data from major economies pointing to a global economic recovery from the COVID-19 pandemic fallout.

 

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Plan A : Attempt buy if market trades firmly above 30515. Targets are 30681 and 30805.

Plan B : Consider short only if market surges but fails to breach above 30805. Targets are 30681 and 30580.

 
 
WTI Crude
 
Oil prices fell from recent highs for a second day on Friday as Texas energy firms began to prepare for restarting oil and gas fields shuttered by freezing weather.

 

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Plan A : Remain buy as long as oil price trades firmly above 59.4. Targets are 60.0 and 61.3.

 
Plan B : Consider selling only if oil price fails to hold above 59.4. Targets are 58.3 and 57.6.
 
 
 
Gold
 
Gold prices edged higher on Friday, recovering from a more than seven-month low hit earlier as the U.S. dollar eased, but rising Treasury yields kept bullion on course for its biggest weekly drop since early January.
 

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Plan A : Attempt long only if gold price able to climb back and stays strong above 1776. Targets are 1795.1 and 1814.1.

Plan B : Consider short if market rebounds but fails to breach above 1795.1. Targets are 1776 and 1752.4.

 

 

 
 

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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