Highlights

Where Futures Lies

Author: Futurescoin   |   Latest post: Wed, 20 Oct 2021, 3:57 AM

 

Daily Futures Trading Strategy 21 September 2021

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

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E-Mini Dow

 
Wall Street fell in a broad sell-off on Monday, with the S&P 500 and Nasdaq suffering their biggest daily percentage drops since May, as fear of contagion from potential collapse of China's Evergrande drove investors out of equities in a flight for safety.
 

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Plan A : Attempt buy if market trades firmly above 33714 and rebound. Targets are 33905 and 34142.
 
Plan B : Consider short if market rebounds but fails to breach above 34142. Targets are 33905 and 33714.
 

 
E-Mini S&P 500
 

U.S. stocks began the week deeply in the red as investors continued to flock to the sidelines in September amid several emerging risks for the market.

The S&P 500 fell 1.7% to 4,357.73, posting its worst daily performance since May 12. It was a broad sell-off with each of the main 11 sectors of the benchmark registering losses. 

Stocks have struggled so far in September in line with historical trends. For the month, the Dow is off 3.9%. The S&P 500 is lower by 3.7% and the Nasdaq Composite has fallen 3.6%.

Fed Chair Jerome Powell will hold a press conference Wednesday at the conclusion of the two-day meeting. Powell has said the so-called tapering could occur this year, but investors are waiting for more specifics, particularly after mixed economic data released since Powell’s last comments.

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Plan A : Short if market failed to support above 4391. Targets are 4376, 4359 and 4342.
 
Plan B : Long if market supported firm above 4391. Targets are 4402, 4415 and 4428.

 

E-Mini Nasdaq
 

U.S. stock futures were higher in early morning trading on Tuesday following a major sell-off on Wall Street. 

The tech-heavy Nasdaq Composite dropped 2.2% to 14,713.90.

The major averages tumbled on Monday due to a confluence of concerns including the imminent Federal Reserve meeting, the lingering delta variant, potential economic disruption in China and the debt ceiling deadline.

The Federal Reserve begins its two-day policy meeting on Tuesday and investors are looking for more information from Chairman Jerome Powell about the central bank’s plans to taper its bond buying, specifically when that will happen. Powell said last month that he sees the Fed slowing its $120 billion in monthly purchases at some point this year.

The Fed releases its quarterly economic forecasts, the so-called dot plot, along with the statement on interest rates at 2 p.m. ET Wednesday. Powell will have a a press conference after.

Investors are also concerned about the deadline to raise the debt ceiling and possible tax increases. Congress returned to Washington from recess rushing to pass funding bills to avoid a government shutdown.

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.
 

Plan A : Short if market failed to support above 15210. Targets are 15165, 15122 and 15085.
 
Plan B : Long if market supported firm above 15210. Targets are 15240, 15273 and 15308.

 

 
HSI
 
Hong Kong shares closed at their lowest level in 11 months and the offshore yuan and Hong Kong dollar weakened on Monday, as a plunge in beleaguered property developer China Evergrande Group led other stocks in the sector lower.
 

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Plan A : Remain sell as long as market trades below 24310. Targets are 23798 and 23482.

Plan B : Consider long only if market supports firmly above 23482 and rebound. Targets are 23798 and 24010.

 
 
WTI Crude
 
Oil prices fell 2% on Monday as investors grew more risk averse, which hurt stock markets and boosted the U.S. dollar, making oil more expensive for holders of other currencies.
 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.

Plan A : Attempt sell if oil price trades below 70.9. Targets are 70.3 and 69.2.

Plan B : Consider long only if oil price holds firmly above 70.3 and rebound. Targets are 70.9 and 71.9.

 
 
Gold
 
Gold rose on Monday as fears about the solvency of Chinese property group Evergrande sparked a flight to safe-haven assets, but gains were capped by strength in the dollar ahead of the U.S. Federal Reserve's policy meeting.
 

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.

 

Plan A : Remain sell as long as gold price stays below 1766.1. Targets are 1743.8 and 1730.6.
 

Plan B : Consider long only if gold price able to hold firm above 1750 and rebound. Targets are 1755.3 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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