Highlights

Where Futures Lies

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

 

Daily Futures Trading Strategy 22 September 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 ended near flat on Tuesday after a broad sell-off the day before, with worries over troubles at developer China Evergrande and caution ahead of Wednesday's Federal Reserve policy news keeping a lid on the market.
 

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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 33905. Targets are 33714 and 33522.
 

 
E-Mini S&P 500

U.S. stocks on Tuesday fought to rebound from Monday’s rout, but failed as the Dow Jones Industrial average trended lower for most of the session and closed in the red.

The S&P 500 shed about 0.1% to 4,354.19, following its worst day since May on Monday. 

The drop initially attracted investors at Tuesday’s open, but markets couldn’t hold the comeback. The S&P 500 was up 0.9% at its high of the day. Investors were also cautious ahead of the Federal Reserve's decision on interest rates and release of economic forecasts on Wednesday. 

The Fed will release 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 press conference after the announcements.

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Plan A : Long if market supported firm above 4372. Targets are 4383, 4394 and 4405.

Plan B : Short if market failed to support above 4372. Targets are 4355, 4340 and 4321.

 

E-Mini Nasdaq

U.S. stock futures were higher in early morning trading on Wednesday after the major averages failed to rebound from Monday’s Evergrande-led sell-off in the regular session.

The Nasdaq Composite rose 0.2% to 14,746.40 as investors bought some major tech shares like Apple on the dip.

The Federal Reserve will conclude its two-day meeting on Wednesday and release a policy statement with economic and interest rate forecasts. Chairman Jerome Powell is expected to speak to the media at 2:30 p.m. ET.

Investors expect to hear details about when exactly the central bank plans to begin tapering its bond buying. Powell has previously said it could begin as soon as this year. That may not necessarily happen, however.

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Plan A : Long if market supported firm above 15056. Targets are 15089, 15121 and 15155.

Plan B : Short if market failed to support above 15056. Targets are 15015, 14972 and 14929.

 
 
HSI
 
Hong Kong stocks slipped on Tuesday, a day after worries about the future of embattled developer China Evergrande Group shook global markets.
 

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Plan A : Remain sell as long as market trades below 24310. Targets are 24050 and 23798.

Plan B : Consider long only if market supports firmly above 23798 and rebound. Targets are 24050 and 24200.

 
 
WTI Crude
 
Oil prices rose on Tuesday, after sharp losses the previous session, amid tighter U.S. supplies, ending days of losses as global markets remain haunted by the potential impact on China's economy of crises at heavily indebted property group China Evergrande.
 

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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 gained on Tuesday as unease over China's Evergrande insolvency spurred safe-haven buying, ahead of a Federal Reserve meeting that could provide clues on the central bank's timeline for cutting its stimulus to the U.S. economy.

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

Plan A : Attempt buy if gold price trades firmly above 1766.1. Targets are 1778.5 and 1794.8.

 
Plan B : Consider short only if gold price rebounds but fails to breach above 1778.5. Targets are 1771 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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