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Where Futures Lies

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

 

Daily Futures Trading Strategy 18 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 Dow closed at record highs on Wednesday after the Fed predicted a fast economic recovery from the coronavirus pandemic and said it would maintain its interest rate at close to zero.
 

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Plan A : Remain buy as long as market trades firmly above 32780. Targets are 32994 and 33579.
 
Plan B : Consider short only market surges but fails to hold firm above 32994. Targets are 32780 and 32630.

 
 
E-Mini S&P 500
 

U.S. stocks erased earlier losses and jumped higher Wednesday after the Federal Reserve said it sees no interest rate hikes through 2023 and that it will let inflation run hotter than usual to ensure a full economic recovery.

The S&P 500 erased a 0.7% loss and rose 0.3% to a record closing high of 3,974.12. 

While the Fed expects benchmark interest rates to remain near zero for the next two years, the central bank upgraded their economic outlook to reflect expectations for a stronger recovery from the pandemic-triggered recession. Gross domestic product is expected to grow 6.5% in 2021 before cooling off in later years.

Expectations for core inflation also moved higher, with the committee now looking for a 2.2% gain this year as measured by personal consumption expenditures. The central bank’s stated goal is to keep inflation at 2% over the long run.


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Plan A : Long if market supported firm above 3942. Targets are 3958, 3975 and 3991.

Plan B : Short if market failed to support above 3942. Targets are 3917, 3890 and 3863.
 

 
E-Mini Nasdaq
 

Futures contracts tied to the major U.S. stock indexes were mixed early Thursday after the Federal Reserve said it does not currently expect to hike interest rates through 2023.

The Nasdaq Composite wiped out earlier losses and ended the day 0.4% higher at 13,525.20. The tech-heavy benchmark fell 1.5% at one point as growth stocks came under pressure amid surging bond yields again.

Fed Chair Jerome Powell reiterated that the central bank wants to see inflation consistently above its 2% target and material improvement in the U.S. labor market before considering changes to rates or its monthly bond purchases.

Tesla, for example, had fallen 3.8% on Wednesday prior to the Fed’s announcement, tracking the rise of long-term rates. The stock popped following the Fed’s release and ended the session up 3.6% as yields receded.

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Plan A : Long only if market supported firm above 13046. Targets are 13078, 13109 and 13140.

Plan B : Short if market failed to support above 13046. Targets are 13008, 12963 and 12924.

 

 
HSI
 
Hong Kong shares ended slightly higher after a volatile session on Wednesday as investors awaited the U.S. central bank's policy meet outcome for cues on whether it could start raising interest rates earlier than it had previously said.
 

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Plan A : Attempt buy if market trades firmly above 28891. Targets are 29112 and 29249.

Plan B : Consider short only if market surges but fails to breach above 29249. Targets are 29061 and 28912.


 
 
WTI Crude
 
Oil slipped for a fourth day on Wednesday weighed by concerns about weaker demand in Europe and rising U.S. crude inventories.
 

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Plan A : Attempt sell if oil price trades below 65.6. Targets are 64.1 and 62.3.

Plan B : Consider long only if oil price able to trade firmly above 64.1 and rebound. Targets are 64.9 and 65.6.

 
 
Gold
 
Gold prices jumped on Wednesday, hitting their highs of the day following the Federal Reserve's decision.
 

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Plan A : Remain buy as long as market trades firmly above 1714.2. Targets are 1752.4 and 1776.
 
Plan B : Consider short only if gold price surges but fails to breach above 1752.4. Targets are 1728 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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