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Where Futures Lies

Author: Futurescoin   |   Latest post: Fri, 23 Jul 2021, 4:10 AM

 

Daily Futures Trading Strategy 16 June 2021

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

 

 
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E-Mini Dow

 
Investors retrenched and avoided major risks across multiple markets on Tuesday as markets awaited fresh guidance from the U.S. Federal Reserve on Wednesday.
 

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Plan A : Remain short as long as market stays trading below 34402. Targets are 34200 and 34140.
 
Plan B : Consider buying only if market holds resiliently above 34140 and rebound. Targets are 34290 and 34402.

 
 
E-Mini S&P 500
 

U.S. stocks fell slightly on Tuesday with the S&P 500 and the Nasdaq Composite slipping from their respective records, as investors awaited the key Federal Reserve monetary policy meeting.

The S&P 500 dipped 0.2% to 4,246.59 after rising 0.1% to reach a new all-time high of 4,257.16 earlier in the session. Real estate and tech were the biggest laggards on Tuesday, while the energy sector provided the broader market with some support, rising 2.1%. 

On the data front, the final demand index for producer prices advanced 6.6% for the 12 months ended in May, the largest increase since 12-month data were first calculated in November 2010.

On a monthly basis, the producer price index for final demand rose 0.8%, ahead of the Dow Jones estimate of 0.6%.

Meanwhile, May’s retail sales data fell 1.3%, compared to an expectation of a 0.7% decline per economists polled by Dow Jones.

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Plan A : Short only if market failed to support above 4234. Targets are 4207, 4182 and 4151.
 
Plan B : Long if market retraced but supported firm above 4234. Targets are 4249, 4268 and 4285.

 

 
E-Mini Nasdaq
 

U.S. stock index futures were little changed during overnight trading on Tuesday, ahead of the Federal Reserve's update on Wednesday. 

The Nasdaq Composite, which hit a record closing high in the previous session, pulled back 0.7% to 14,072.86 as Apple, Alphabet, Amazon and Microsoft all registered losses.

The Federal Reserve kicked off its two-day meeting on Tuesday. The central bank is not expected to make any policy moves, but it could signal that it’s beginning to think about easing its bond-buying policy. The Fed will also release new forecasts on Wednesday, which could indicate a possible first rate hike penciled in for 2023. Previously, Fed officials hadn’t come to a consensus for a rate hike through 2023.

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Plan A : Short if market failed to support above 14023. Targets are 13980, 13939 and 13895.
 
Plan B : Long if market supported firm above 14023. Targets are 14055, 14089 and 14122.
 
 
 
HSI
 
Hong Kong stocks closed lower on Tuesday, tracking weakness in mainland China peers, as tensions between the West and Beijing deepened after G7 leaders took the Asian nation to task over a range of issues.
 

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Plan A : Remain sell as long as market stays trading below 28867. Targets are 28639 and 28443.
 

Plan B : Consider long only if market supports above 28366 and rebound. Targets are 28488 and 28639.

 
 
WTI Crude
 
Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran.
 

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Plan A : Remain buy as long as oil price trades firmly above 70.4. Targets are 71.1 and 71.9.

Plan B : Consider short if oil price surges but fails to breach above 71.9. Targets are 71.1 and 70.4.

 
 
Gold
 
Gold fell on Tuesday as the dollar firmed and as market weighed the chances that the U.S. Federal Reserve this week may signal an eventual easing of stimulus.
 

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Plan A : Attempt buy if gold price trades firmly above 1857.4. Targets are 1869.4 and 1878.8.
 
Plan B : Consider short if gold price consistently trading below 1878.8. Targets are 1869.4 and 1857.4.
 
 
 
 
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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