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Where Futures Lies

Author: Futurescoin   |   Latest post: Fri, 17 Sep 2021, 4:10 AM

 

Daily Futures Trading Strategy 22 July 2021

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

 

 
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E-Mini Dow

 
Wall Street clinched its second straight advance on Wednesday, as robust corporate earnings and renewed optimism about the U.S. economy recovery fueled investor risk appetite.
 

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Plan A : Remain buy as long as market trades firmly above 34526. Targets are 34750 and 34909.
 
Plan B : Consider sell if market surges but fails to breach above 34750. Targets are 34642 and 34526.
 
 
 
E-Mini S&P 500
 

The S&P 500 gained as much as 1.8%, its largest intraday climb since March, to erase Monday’s drop -- signaling continued investor bullishness even after the spreading delta variant and fears of lockdown restrictions sent U.S. stocks down at the start of the week.

The benchmark gauge was up 1.5% as of 1:30 p.m. in New York. All of the 11 major industry groups rose, with financials and industrials leading the gains. 

A busy week of earnings will continue on Thursday. AT&T, D.R. Horton, Southwest Air, American Airlines, Abbott Labs and Union Pacific are among the names on deck before the opening bell. Intel, Twitter, Snap and Capital One will post quarterly updates after the market closes.

So far 15% of the S&P 500 has reported earnings, with 88% beating earnings estimates, according to Refinitiv. Of the companies that have reported 84% have topped revenue expectations.

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Plan A : Short if market failed to support above 4346. Targets are 4319, 4294 and 4265.
 
Plan B : Long if market supported firm above 4346. Targets are 4363, 4378 and 4399.
 
 
 
E-Mini Nasdaq
 

U.S. stock index futures were little changed in early morning trading on Thursday, after the major averages advanced during regular trading to turn positive for the week.

The Nasdaq Composite was the relative outperformer, rising 0.92%.

Wednesday’s gains built on Tuesday’s strong session, and the major averages have now erased the losses from Monday’s sell-off. On Wednesday the yield on the 10-year rose 8 basis points to 1.29%.

Investors will also be watching the weekly jobless claims number from the Department of Labor on Thursday. Economists polled by Dow Jones are expecting the number of first-time filings to be 350,000, down from the prior reading of 360,000. Existing home sales figures will also be released.

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Plan A : Long if market supported firm above 14848. Targets are 14880, 14912 and 14945.
 
Plan B : Short if market failed to support above 14848. Targets are 14802, 14762 and 14715.
 
 
 
HSI
 
Hong Kong stocks fell n Wednesday, as Beijing's tight regulation continues to weigh on technology shares.
 

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Plan A : Attempt buy if market trades firmly above 27168. Targets are 27365 and 27519.
 
Plan B : Consider short if market surges but fails to breach above 27519. Targets are 27413 and 27365.
 

 
WTI Crude
 
Oil prices rose more than 4% on Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in U.S. oil inventories.
 

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Plan A : Attempt sell if oil price surges but fails to breach above 70.8. Targets are 70.2 and 69.3.

Plan B : Consider buy only if oil price supports firmly above 70.3. Targets are 70.8 and 71.7.

 
 
Gold
 
Gold dropped for a second straight session to its lowest in more than a week on Wednesday, as risk appetite resumed with equities and bond yields rebounding to curb safe-haven bullion bids.
 

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Plan A : Attempt sell as long as gold price stays below 1812.4. Targets are 1801.9 and 1794.8. 
 
Plan B : Consider buy only if gold price trades resiliently above 1794.8. Targets are 1805 and 1812.4.
 
 
 
 
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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