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Where Futures Lies

Author: Futurescoin   |   Latest post: Fri, 7 May 2021, 4:00 AM

 

Daily Futures Trading Strategy 21 April 2021

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

 

 
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E-Mini Dow

 
Stocks on Wall Street fell for a second straight day on Tuesday as a global spike in coronavirus cases hit travel-related shares and investors had second thoughts about big U.S. banks' apparently stellar earnings last week.
 

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Plan A : Attempt buy if market trades firmly above 33559. Targets are 33737 and 33939.
 
Plan B : Consider short only if market consistently trades below 33939. Targets are 33737 and 33559.
 
 
 
E-Mini S&P 500
 

Stocks on Wall Street fell for a second straight day on Tuesday as a global spike in coronavirus cases hit travel-related shares and investors had second thoughts about big U.S. banks' apparently stellar earnings last week.

The S&P 500 closed 4,134, a decline of 1.2% from record highs on Friday.

Companies have been handing in solid quarterly results, but the bar is high for earnings to lift the stock market higher after a strong rally to record highs this year. The Dow and the S&P 500 are still both up 10% for the year after hitting records on Friday.

Stocks are now in a choppy period, and technical analysts say it has the look of a short-term pullback. Strategists say it would make sense for this week’s selling to fit in the pattern of many pullbacks with a 3% to 5% decline.

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Plan A : Short if market failed to support above 4134. Targets are 4109, 4083 and 4062.

Plan B : Long if market supported firm above 4134. Targets are 4149, 4166 and 4182.

 
 
E-Mini Nasdaq
 

Stock futures were little changed in early morning trading Wednesday amid a sharp decline in Netflix shares.

Netflix shares plunged about 9% in extended trading after the streaming giant reported  subscriber additions that fell far short of Wall Street estimates as the demand surge from the pandemic started to fade. Netflix posted better-than-expected earnings for the first quarter, however.

Wall Street suffered back-to-back losses as reopening plays led the market lower amid renewed concerns about rising new Covid cases globally. The Dow fell 250 points on Tuesday for its worst daily performance since March 23, while the S&P 500 and the Nasdaq slid 0.7% and 0.9%, respectively.

Verizon and Chipotle Mexican Grill are slated to report numbers on Wednesday.

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Plan A : Short if market failed to support above 13785. Targets are 13745, 13705 and 13665.

Plan B : Long if market supported firm above 13785. Targets are 13817, 13846 and 13880.
 
 
 
HSI
 
Hong Kong's Hang Seng index edged higher on Tuesday to end at its highest close in more than a month led by gains in financial stocks, and robust inflows from the mainland through the Stock Connect.
 

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Plan A : Remain sell as long as market trades below 29066. Targets are 28790 and 28639.

 
Plan B : Consider buy only if market able to hold firm above 28639 and rebounds. Targets are 28790 and 28912.
 
 
 
WTI Crude
 
Oil fell on Tuesday, pulling back from one-month highs, on fears that India, the world's third-biggest oil importer, may impose restrictions as coronavirus infections and deaths soar in that country.
 

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Plan A : Remain buy as long as oil price trades firmly above 61.6. Targets are 62.6 and 63.9.

Plan B : Consider short only if oil price trades below 62.6. Targets are 61.6 and 60.4.

 
 
Gold
 
Gold gained on Tuesday as a rise in U.S. Treasury yields stalled and the dollar steadied near multi-week lows.
 
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Plan A : Remain buy as long as gold price trades firmly above 1752.4. Targets are 1776 and 1795.1.
 
Plan B : Consider short only if gold price fails to hold firm above 1776. Targets are 1766 and 1752.4
 
 
 

 

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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