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Author: Futurescoin   |   Latest post: Fri, 16 Apr 2021, 4:10 AM

 

Daily Futures Trading Strategy 12 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 and the Dow closed at all-time highs on Thursday as worries about rising inflation subsided, while a bigger-than-expected fall in weekly jobless claims and the signing of a massive stimulus bill reinforced expectations of a strong economic recovery.
 

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Plan A : Remain buy as long as market trades firmly above 32408. Targets are 32640 and 32994.
 
Plan B : Consider short only market surges but fails to breach above 32640. Targets are 32500 and 32408.
 
 
 
E-Mini S&P 500
 

U.S. stocks climbed to record highs Thursday as the comeback in tech shares resumed, while the signing of additional fiscal stimulus gave sentiment a further boost.

The S&P 500 jumped 1% to 3,939.34, hitting a new closing high and retaking its previous record from Feb. 16.  

President Joe Biden signed a $1.9 trillion coronavirus relief package into law Thursday afternoon. The plan will send direct payments of up to $1,400 to most Americans, and will also put nearly $20 billion into Covid-19 vaccinations and $350 billion into state, local and tribal relief. The White House said Thursday that stimulus checks could start hitting bank accounts this weekend.

The 10-year Treasury yield, which had retreated from its recent high of 1.6%, was little changed at 1.52% on Thursday.

On the data front, investors cheered a slightly better-than-expected reading on weekly jobless claims. The Labor Department reported that first-time filings for unemployment insurance in the week ended March 6 totaled a seasonally adjusted 712,000, below the Dow Jones estimate of 725,000.

The economic reopening, coupled with additional fiscal stimulus, accelerated the rotation into more cyclical sectors, such as energy. The S&P 500 energy sector has been the biggest winner this year, up nearly 40% so far.

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Plan A : Short if market failed to support above 3930. Targets are 3904, 3880 and 3849.

Plan B : Long if market supported firm above 3930. Targets are 3944, 3961 and 3981.
 

 
E-Mini Nasdaq
 

Futures contracts tied to the major U.S. stock indexes traded mixed early Friday after the S&P 500 closed at a record high and President Joe Biden signed landmark stimulus legislation.

The Nasdaq Composite climbed 2.5% to 13,398.67 amid a rotation back into tech. Tesla popped 4.7%, while Apple, Facebook, Alphabet and Netflix all advanced at least 3%.

The Nasdaq Composite dipped into correction territory on Monday, falling more than 10% from its recent high. Now the tech-heavy benchmark is about 5.5% off that high.

A quick rise in bond yields put pressure on the tech-heavy index earlier in March as investors shifted toward economically sensitive, cyclical stocks. Sharp increases in interest rates can put outsized pressure on high-growth tech stocks as they reduce the relative value of future profits.

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Plan A : Short if market failed to support above 12937. Targets are 12897, 12855 and 12817.

Plan B : Long if market supported firm above 12937. Targets are 12965, 12999 and 13031. 

 

HSI
 
Hong Kong shares ended the session higher on Thursday, echoing gains on mainland and global markets.
 

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Plan A : Remain buy as long as market stays firm above 29249. Targets are 29564 and 29790.
 
Plan B : Consider short only if market surges but fails to breach above 29564. Targets are 29249 and 29140.
 
 
 
WTI Crude
 
Crude oil prices rose on Thursday as vaccine rollouts bolstered the economic outlook and U.S. fuel stocks fell sharply, although gains were capped by a surge in crude oil inventories after last month's Texas storm.
 

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Plan A : Remain buy as long as oil price trades firmly above 65.6. Targets are 66.2 and 67.0

Plan B : Consider short only if oil price surges but fails to breach above 66.2. Targets are 65.6 and 64.1.

 
 
Gold
 
Gold eased off a one-week high on Thursday after U.S. Treasury yields rose after better-than-expected jobless claims data.
 

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 short if gold price falls back below 1714.2. Targets are 1683 and 1676.
 
Plan B : Remain buy as long as market trades firmly above 1714.2. Targets are 1726 and 1752.
 
 
 

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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