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Where Futures Lies

Author: Futurescoin   |   Latest post: Wed, 21 Apr 2021, 5:04 AM

 

Daily Futures Trading Strategy 1 March 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 ended little changed, while the Dow index closed lower on Friday after earlier dropping to a three-week low. The Dow still posted gains of nearly 4% for the month, as investors bought into cyclical companies set to benefit from an economic reopening.
 

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Plan A : Attempt buy if market trades firmly above 30980. Targets are 31140 and 31388.
 
Plan B : Consider short only if market surges but fails to breach above 31388. Targets are 31250 and 31140.

 
 
E-Mini S&P 500
 

The Dow Jones Industrial Average swung wildly Friday to close near its session low as Wall Street struggled to shake off fears of rapidly rising rates.

The S&P 500 fell 0.5% to 3,811.15 as energy and financial stocks pulled back. 

The weakness in the broader market came even after the personal consumption expenditures price index indicated subdued inflation in January. The PCE index, which the Federal Reserve watches closely, rose 0.3% for the month, slightly ahead of the 0.2% expectation but was up just 1.5% year over year, matching Dow Jones estimates. 

The 10-year Treasury yield fell 10 basis points to around 1.42% Friday, after surging above 1.6% at one point on Thursday. Treasury yields initially fell following the inflation data release, but they bounced higher, triggering the intraday slump in major indexes. Even as they ended the day much lower, stocks failed to shake off the fears that higher rates may halt the equity rally.

Economists and investment managers say the bond market is reacting to positive economics as vaccines are rolled out and GDP forecasts improve, which should benefit corporate profits. But the move could also signal faster-than-expected inflation ahead.

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Plan A : Short if market failed to support above 3834. Targets are 3808, 3784 and 3755.

Plan B : Long if market supported firm above 3834. Targets are 3851, 3868 and 3880.

 
 
E-Mini Nasdaq
 

U.S. stock futures rose sharply in early morning trading on Monday, as Treasury yields continued to retreat from their highs from last week.

The Nasdaq Composite ended the day 0.6% higher at 13,192.34 as Big Tech names rebounded after a large sell-off in the previous session amid surging bond yields. Facebook, Microsoft and Amazon each rose more than 1%. The tech-heavy benchmark gyrated in Friday’s session where it jumped 1.9% at its high and fell as much as 0.7%.

The technology-heavy Nasdaq Composite dropped more than 4% for the week, suffering its worst one-day sell-off since October on Thursday. Technology companies rely on being able to borrow money for a low rate in order to invest in future growth.

February’s final read for Markit’s U.S. manufacturing purchasing managers’ index for February comes out on Monday at 9:45 a.m. ET. Economists polled by Dow Jones are expecting a read of 58.5, the same as December’s read of 58.5.

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Plan A : Long if market supported firm above 13123. Targets are 13154, 13185 and 13218.

Plan B : Short if market failed to support above 13123. Targets are 13083, 13041 and 13000.

 
 
HSI
 
Hong Kong stocks ended sharply lower on Friday, in line with broader markets, posting their worst week in one year, as a rout in global bonds sent yields flying and dampened appetite for risky assets.
 

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Plan A : Attempt short if market rebounds but fails to breach above 29352. Targets are 29180 and 29070.

Plan B : Consider long only if market trades firmly above 28805 and rebound. Targets are 29070 and 29180.

 
 
WTI Crude
 
Oil prices fell on Friday as a collapse in bond prices led to gains in the U.S. dollar and expectations grew that with oil prices back above pre-pandemic levels, more supply is likely to come back to the market.
 

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Plan A : Remain buy as long as oil price trades firmly above 62.4. Targets are 63.7 and 64.2.
 

Plan B : Consider selling only if oil price fails to hold above 62.4. Targets are 61.8 and 61.2.    
 
 
Gold
 
Gold tumbled 3% to an eight-month low on Friday en route to its worst month since November 2016 as a stronger dollar and elevated U.S. Treasury yields hammered non-yielding bullion's appeal.


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

 

Plan A : Consider long only if gold price holds above 1714.2 and rebound. Targets are 1740 and 1752.4.
 
Plan B : Consider short if market rebounds but fails to breach above 1752.4. Targets are 1731.5 and 1714.2.
 
 
 

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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