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Where Futures Lies

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

 

Daily Futures Trading Strategy 19 March 2021

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

 

 
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E-Mini Dow

 
Wall Street ended sharply lower on Thursday, with the Nasdaq tumbling 3%, hit by rising Treasury yields and fresh worries about the coronavirus pandemic in Europe.
 

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Plan A : Remain buy as long as market trades firmly above 32577. Targets are 32994 and 33579.
 
Plan B : Consider short only market surges but fails to breach above 32994. Targets are 32780 and 32630.

 
 
E-Mini S&P 500
 

U.S. stock futures were modestly higher early Friday as Wall Street looked to shake off a broad sell-off during market hours.

The moves come after the stock market struggled on Thursday, with tech stocks being particularly hard hit. The Nasdaq Composite fell 3%, with Apple and Amazon seeing slightly larger losses. The Dow and S&P 500 slipped 0.5% and 1.5%, respectively.

The weakness in stocks was mirrored by a spike in bond yields, with the benchmark 10-year Treasury yield breaking above 1.7%, its highest level since January of last year. Yields move inverse of prices. Rising bond yields, which can signal confidence about the economic recovery and fears about inflation, make high growth stocks look less attractive to investors.

Energy stocks were also hit hard on Thursday, with the price of West Texas Intermediate crude sliding by more than 7%. The slow rollout of vaccines and rise in Covid cases in Europe have weighed on the near-term demand outlook for oil.

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Plan A : Long if market supported firm above 3918. Targets are 3934, 3949 and 3968.

Plan B : Short if market failed to support above 3918. Targets are 3892, 3869 and 3846.

 
 
E-Mini Nasdaq
 

Technology shares led the U.S. stock market lower on Thursday as a spike in bond yields fueled concern about equity valuations and prompted investors to sell growth-focused high flyers.

The Nasdaq Composite dropped 3% to 13,116.17 for its worst day since Feb. 25 as Apple, Amazon and Netflix all fell more than 3%. Tesla slipped nearly 7%. 

Investors also digested a mixed bag of economic data Thursday. Weekly initial jobless claims totaled 770,000 for the week ended March 13, worse than an estimate of 700,000, according to economists polled by Dow Jones.

Meanwhile, the Philadelphia Federal Reserve’s manufacturing index showed a reading of 51.8, well exceeding Dow Jones consensus of 22.0 and hitting the highest level for the gauge since 1973.

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Plan A : Short if market failed to support above 12934. Targets are 12890, 12848 and 12800.

Plan B : Long only if market supported firm above 12934. Targets are 12965, 12998 and 13029. 
 

 
HSI
 
Hong Kong stocks ended firmer on Thursday, in line with broader Asian markets, after the U.S. Federal Reserve pledged to maintain accommodative monetary policy and projected a rapid jump in U.S. economic growth this year.
 

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Plan A : Attempt buy if market trades firmly above 29164. Targets are 29382 and 29570.

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

 
 
 
WTI Crude
 
Oil prices sunk for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic.
 

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Plan A : Remain sell as long as oil price trades below 61.1. Targets are 58.8 and 57.8. 

Plan B : Consider long only if oil price able to trade firmly above 58.8 and rebound. Targets are 59.9 and 60.6.

 
 
Gold
 
Gold prices dropped on Thursday as a surge in U.S. bond yields and a firmer dollar hammered 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 : 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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