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

 

Daily Futures Trading Strategy 19 August 2021

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

 
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E-Mini Dow

 
Wall Street's main indexes slid on Wednesday, with the S&P 500 falling over 1% after the release of minutes from the Federal Reserve's policy meeting last month showed officials felt the employment benchmark for decreasing support for the economy "could be reached this year."
 

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Plan A : Remain sell as long as market stays below 35146. Targets are 34909 and 34790.
 
Plan B : Consider long if market trades resiliently above 34909 and rebound. Targets are 35146 and 35200.

 
 
E-Mini S&P 500

Major U.S. stock indexes slipped for a second day  as investors digested the latest Federal Reserve meeting minutes for insights into tapering plans.

The S&P 500 dipped nearly 1.1% to 4,400.27. 

The Fed published its meeting minutes from its July gathering, revealing discussions about possibly dialing back its monthly bond-buying program this year.

The minutes noted the economy had reached its goal on inflation and was “close to being satisfied” with the progress of job growth.

To be sure, the minutes also reflected some division within the Fed with some members preferring to wait until early 2022 to start tapering bond purchases.

Investors also waded through more earnings reports from major retailers Wednesday.

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Plan A : Short if market failed to support above 4357. Targets are 4342, 4321 and 4309.
 
Plan B : Long if market supported firm above 4357. Targets are 4366, 4379 and 4395.
 
 
 
E-Mini Nasdaq
 

Stock futures were lower in early morning trading on Thursday after Wall Street suffered a sell-off as meeting minutes showed the Federal Reserve started eyeing tapering before the year-end.

The central bankers at their July meeting made plans to pull back the pace of their monthly bond purchases likely before the end of 2021, the minutes showed.

However, committee members broadly agreed that employment has not met the “substantial further progress” benchmark the Fed has set before it would consider raising rates.

Investors will monitor new jobless claims data due Thursday morning. Economists polled by Dow Jones expect a total of 365,000 in the week ended Aug. 14, slightly below the total of 375,000 in the prior week.

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Plan A : Short if market failed to support above 14695. Targets are 14652, 14605 and 14569.
 
Plan B : Long if market supported firm above 14695. Targets are 14725, 14761 and 14799.
 
 
 
HSI
 
Hong Kong shares closed higher on Wednesday after their biggest drop in three weeks in the previous session, as financials and tech stocks boosted key indexes.
 

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Plan A : Remain sell as long as market stays below 25870. Targets are 25650 and 25550.

Plan B : Consider long if market able to trade firmly above 25550 and rebound. Targets are 25650 and 25770.

 
 
WTI Crude
 
Oil prices fell about 1% on Wednesday after four straight days of declines, as investors remain worried about the outlook for fuel demand as COVID-19 cases surge worldwide and on rising strength in the U.S. dollar.
 

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Plan A : Remain sell as long as oil price stays below 66.3. Targets are 64.3 and 63.8.

Plan B : Consider buy only if oil price able to support above 63.8 and rebounds. Targets are 64.5 and 66.3.

 
 
Gold
 
Gold prices edged higher on Wednesday, as concerns over the spread of the Delta variant of the coronavirus buoyed bullion's appeal and investors awaited minutes from the Federal Reserve's latest policy meeting.
 

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Plan A : Remain buy as long as gold price trades firmly above 1768.8. Targets are 1788.2 and 1794.8.

 
Plan B : Consider short if gold price fails to breach above 1794.8. Targets are 1785.6 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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