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Where Futures Lies

Author: Futurescoin   |   Latest post: Thu, 24 Jun 2021, 3:43 AM

 

Daily Futures Trading Strategy 4 June 2021

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

 

 
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E-Mini Dow

 
U.S. stocks ended lower on Thursday, with tech shares dragging on the S&P 500 and Nasdaq, as investors balanced concerns about inflation and the Federal Reserve reining in stimulus with relief about corporate tax hikes.
 

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Plan A : Remain buy as long as market trades firmly above 34450. Targets are 34620 and 34730.
 
Plan B : Consider selling only if market consistently trading below 34554. Targets are 34450 and 34201.
 
 
 
E-Mini S&P 500
 

Cyclical stocks lifted the Dow Jones Industrial Average off its low on Thursday to close the session near the flatline, while better-than-expected labor market data helped support sentiment.

The S&P 500 declined 0.4% to 4,192.85. The benchmark S&P 500 sits about 1% from its all-time high reached earlier last month, but it has been stuck around these levels for about the last two weeks. The S&P 500 is up more than 11% this year so far.

On the data front, private job growth for May accelerated at its fastest pace in nearly a year as companies hired nearly a million workers, according to a report Thursday from payroll processing firm ADP.

Meanwhile, first-time claims for unemployment benefits for the week ended May 29 totaled 385,000, versus a Dow Jones estimate of 393,000. It also marked the first time that jobless claims fell below 400,000 since the early days of the pandemic.

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Plan A : Long if market supported firm above 4186. Targets are 4202, 4218 and 4233.

Plan B : Short if market failed to support above 4186. Targets are 4160, 4133 and 4109.

 

 
E-Mini Nasdaq
 

U.S. stocks fell Thursday as fresh weekly data showed a continued recovery in the labor market and traders kept a close eye on any potential policy shifts from the Federal Reserve.

The Nasdaq Composite lost 141.82 points, or 1%, to 13614.51, dragged down by the tech stocks that propelled the market higher during the pandemic.

Investors have been watching the economic recovery—and signs of a corresponding jump in inflation—and gauging how it will affect the Federal Reserve’s monetary policy. Thursday’s rosy economic reports added to the concerns.

The latest weekly jobless claims report hit a new pandemic low, and ADP estimated that nearly a million private-sector jobs were created in May.

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for June subscription.
 

Plan A : Long if market supported firm above 13500. Targets are 13530, 13562 and 13599.
Plan B : Short if market failed to support above 13500. Targets are 13458, 13415 and 13371.

 
 
HSI
 
Hong Kong's Hang Seng Index fell on Thursday, tracking regional indexes lower as global investors awaited key U.S. economic data for indications signs of an economic rebound and rising inflation.
 

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Plan A : Remain sell as long as market stays trading below 28912. Targets are 28760 and 28639.

Plan B : Consider long only if market supports above 28639 and rebound. Targets are 28760 and 28912.


 
 
WTI Crude
 
Oil prices were little changed on Thursday, following two straight days of gains that took oil futures to highs not seen in a year, after weekly U.S. crude stocks fell sharply while fuel inventories rose more than expected.
 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for June subscription.

 

Plan A : Remain buy as long as oil price trades firmly above 68.0. Targets are 68.9 and 69.5.

Plan B : Consider short if oil price surges but fails to breach above 69.5. Targets are 68.9 and 68.0.

 
 
Gold
 
Gold slid as much as 2.3% on Thursday as better-than-expected data propelled the dollar higher and boosted expectations that the strong economic readings may reignite taper talk from the Federal Reserve.
 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for June subscription.

 
Plan A : Remain sell as long as gold price stays trading below 1888.3. Targets are 1869.2 and 1857.4.
 
Plan B : Consider long only if gold prices supported firmly above 1869.2 and rebounds. Targets are 1878.8 and 1888.3.
 
 
 
 
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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