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Where Futures Lies

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

 

Daily Futures Trading Strategy 15 March 2021

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

 

 
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E-Mini Dow

 
The blue-chip Dow powered to its fifth consecutive record high on Friday and the S&P 500 closed slightly higher as investors bought shares that should benefit from a strong reopening of the U.S. economy, an outlook signaled by rising yields in the bond market.
 

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Plan A : Remain buy as long as market trades firmly above 32408. Targets are 32910 and 32994.
 
Plan B : Consider short only market surges but fails to breach above 32994. Targets are 32813 and 32408.
 
 
 
E-Mini S&P 500
 
 

The S&P 500 slipped on Friday after hitting an all-time high in the prior session, as a spike in US bond yields revived inflation worries and dented appetite for high-growth stocks.

Wall Street's main indexes are set for their best week in six after one of the largest US fiscal stimulus bills was signed into law and data reinforced views that the economy was on the path to a recovery.

A consistent rise in US bond yields has raised fears of a sudden tapering of monetary stimulus, pressuring the main US stock indexes in recent weeks.

The yield on the benchmark 10-year notes rose back above 1.60% on Friday to approach the one-year highs touched last week.

Speedy vaccine distribution and more fiscal aid have also added to concerns of higher inflation despite assurances from the Federal Reserve to maintain an accommodative policy. All eyes will now be on the central bank's policy meeting next week for further cues on inflation.

US consumer sentiment improved in early March to its strongest in a year, a survey by the University of Michigan showed on Friday.

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Plan A : Long if market supported firm above 3934. Targets are 3949, 3966 and 3981.

Plan B : Short if market failed to support above 3934. Targets are 3908, 3885 and 3861.

 
 
E-Mini Nasdaq
 

U.S. stock futures were mixed early Monday morning and pointed to a cautious open later in the day. That followed last week’s rally that led the Dow and S&P 500 to record highs.

The tech-heavy Nasdaq tumbled 1.3% after rebounding more than 6% over the past three sessions.

The Nasdaq has been particularly hit by the sell-off in recent weeks and confirmed a correction at the start of the week as investors swapped richly valued technology stocks with those of energy, mining and industrials companies that are poised to benefit more from an economic rebound.

Investors will be gearing up for Tuesday and Wednesday’s Federal Open Market Committee meeting where the Federal Reserve will deliver its decision on interest rates. The bond market in the coming week will likely take its cues from the Federal Reserve.

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Plan A : Long if market supported firm above 12915. Targets are 12945, 12980 and 13010.

Plan B : Short if market failed to support above 12915. Targets are 12881, 12830 and 12799.
 

 
HSI
 
Hong Kong stocks fell on Friday to post weekly losses, weighed down by weakness in tech firms on worries about the latest Sino-U.S. tensions.
 

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Plan A : Remain short as long as market stays below 28912. Targets are 28639 and 28563.

Plan B : Consider buy only if market able to hold firm above 28563 and rebound. Targets are 28912 and 29249.

 
 
 
WTI Crude
 
Crude prices eased on Friday but hovered near $66 a barrel as production cuts by major oil producers constrained supply, with optimism about a recovery in demand for the resource in the second half of the year also lending support.
 

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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 prices edged higher on Friday and were on course for their best week in seven, as a slight pullback in the dollar and weakness in equity markets offset pressure from rising U.S. Treasury yields.
 

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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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