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Where Futures Lies

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

 

Daily Futures Trading Strategy 30 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 rallied on Friday, pushing the S&P and the Nasdaq to record closing highs for the fourth time this week, as U.S. Federal Reserve Chairman Jerome Powell's remarks at the Jackson Hole Symposium calmed fears over the tapering timetable and sent investors into the weekend in a buying mood.
 

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Plan A : Remain buy as long as market stays firm above 35338. Targets are 35464 and 35529.
 
Plan B : Consider short if market surges but fails to breach above 35529. Targets are 35338 and 35202.
 
 
 
E-Mini S&P 500
 

Stocks rose on Friday heading for a winning week as Federal Reserve Chairman Jerome Powell prepared the markets for the central bank to pull back on some of its monetary stimulus, saying it’s likely to start tapering its $120 billion in monthly bond purchases this year.

The S&P 500 rose 0.8% to hit a new high and closed at 4,509.37. 

The 10-year Treasury yield, which ran up this week into the Powell speech, eased slightly after the Fed chief’s remarks as he made clear that interest rate hikes would not immediately follow after tapering was over.

Powell also said inflation is solidly around the central bank’s 2% target rate, one of the goals of the Fed’s dual mandate. It has “much ground to cover” to reach its other goal of maximum employment, however, though there has “been clear progress” toward it, Powell added. The Fed has used the term “substantial further progress” as a benchmark for when it will start tightening policy.

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Plan A : Long if market supported firm above 4512. Targets are 4523, 4535 and 4544.
 
Plan B : Short if market failed to support above 4512. Targets are 4498, 4481 and 4465.
 

 
E-Mini Nasdaq
 

U.S. stock futures were steady in early morning trading on Monday as investors readied for the final trading days of August.

Stocks could stay range-bound until the release of August's jobs report on Friday. Economists polled by Dow Jones expect 750,000 jobs were created in August and the unemployment rate fell to 5.2%.

Monday and Tuesday mark the last two trading days of August. Thus far, the S&P 500 is up 2.6% in August. The Dow Jones Industrial Average and the Nasdaq Composite rose 1.5% and 3.1% this month, respectively.

With the Fed’s Jackson Hole meeting in the rearview, investors are now focused on the direction of stocks for the final months of the year. 

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Plan A : Long if market supported firm above 15448. Targets are 15477, 15510 and 15543. 
 
Plan B : Short if market failed to support above 15448. Targets are 15405, 15365 and 15318.
 
 
 
HSI
 
Hong Kong shares ended flat on Friday, as gains in major insurers offset loss in index heavyweight Alibaba Group.
 

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Plan A : Attempt sell if market consistently trades below 25477. Targets are 25330 and 25158.

Plan B : Consider long only if market able to support above 25158 and rebound. Targets are 25318 and 25463.

 
 
WTI Crude
 
Oil prices rose 2% on Friday, posting their biggest weekly gains in over a year, as energy firms began shutting U.S. production in the Gulf of Mexico ahead of a major hurricane expected to hit early next week.
 

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Plan A : Remain buy as long as oil price trades firmly above 68.7. Targets are 69.7 and 70.9.

Plan B : Consider short if oil price surges but fails to breach above 69.7. Targets are 68.8 and 67.4.

 
 
Gold
 
Gold bounced over 1% on Friday after Federal Reserve Chair Jerome Powell stopped short of signaling when the U.S. central bank would start withdrawing its economic support and reiterated his view that current price spikes are transitory. 
 

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Plan A : Remain buy as long as gold price stays firm above 1802.3. Targets are 1823.4 and 1833.1.

 
Plan B : Consider short if gold price surges but fails to breach above 1823.4. Targets are 1818 and 1809.6.
 
 
 
 
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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