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Where Futures Lies

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

 

Daily Futures Trading Strategy 16 August 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 held near the unchanged mark on Friday and notched a second straight week of gains, as a climb in Walt Disney shares boosted the Dow Industrials and S&P 500 but a sharp drop in consumer sentiment kept the investor optimism in check.
 

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Plan A : Attempt sell if market trades below 35338. Targets are 35146 and 35089.
 
Plan B : Consider long if market trades resiliently above 35146. Targets are 35338 and 35529.
 
 
 
E-Mini S&P 500
 

The S&P 500 and Dow Jones Industrial Average hit fresh all-time highs on Friday as both indexes capped off modest gains for the week.

The S&P 500 added 0.16% and finished at 4,468.00, a new closing record. 

Among the S&P sectors, consumer staples and utilities outperformed as Tyson Foods added 2.3% and NRG Energy rose 1.3%. Energy and industrials again underperformed with Diamondback Energy down 4.7% and United Rentals retreating 2.2%. Ebay shares added 7.4%.

Year-over-year earnings growth is expected to be 92.9%, according to Refinitiv. So far about 90% of the S&P 500 companies have handed in their quarterly report, and about 88% of them beat earnings estimates from Wall Street analysts, according to Refinitiv.

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Plan A : Long if market supported firm above 4452. Targets are 4461, 4473 and 4489.
 
Plan B : Short if market failed to support above 4452. Targets are 4438, 4423 and 4400.
 
 
 
E-Mini Nasdaq
 

Futures contracts tied to the major U.S. stock indexes slipped Sunday evening as the S&P 500 hovered in record territory after last week’s modest gains.

The moves in the overnight session on Sunday came after a mostly positive trading week punctuated by closely watched economic data and corporate earnings.

The tech-heavy Nasdaq Composite underperformed week, down just under 0.1%.

The yield on the benchmark 10-year Treasury note was last seen at 1.283%. Bond yields fall as their prices rise.

Upcoming economic data includes an update on retail sales on Tuesday, as well as housing starts and the release of the Federal Reserve’s latest meeting minutes on Wednesday.

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Plan A : Long if market supported firm above 15103. Targets are 15134, 15168 and 15199.

 
Plan B : Short if market failed to support above 15103. Targets are 15063, 15028 and 14979.
 
 
 
HSI
 
Hong Kong shares fell on Friday, as tech stocks weighed on the city's benchmark index.
 

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Plan A : Attempt sell if market trades below 26325. Targets are 26212 and 26080.

Plan B : Consider long if market able to trade firmly above 26212. Targets are 26325 and 26479.

 
 
WTI Crude
 
Oil prices fell for a second day on Friday after the International Energy Agency warned that demand growth for crude and its products had slowed sharply as surging COVID-19 cases worldwide forced governments to revive movement restrictions.
 

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Plan A : Remain sell as long as oil price stays below 68.4. Targets are 67.8 and 66.3.

Plan B : Consider buy only if oil price able to support above 67.8 and rebounds. Targets are 68.4 and 69.0.

 
 
Gold
 
Gold rose more than 1% on Friday as a retreat in the dollar enticed investors to snap up the bullion following its recent sell-off.
 

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Plan A : Attempt buy if gold price trades firmly above 1766.1. Targets are 1778.2 and 1794.8.

 
Plan B : Consider short if gold price fails to breach above 1778.2. Targets are 1770.6 and 1766.1.
 
 
 
 
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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