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Where Futures Lies

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

 

Daily Futures Trading Strategy 4 October 2021

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

 
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E-Mini Dow

 
Wall Street stocks surged to a higher close on Friday, entering the final quarter of 2021 in a buying mood boosted by positive economic data, progress in the battle against COVID, and Washington developments on the potential passage of an infrastructure bill.
 

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Plan A : Attempt buy if market trades firmly above 34142. Targets are 34444 and 34526.
 
Plan B : Consider short if market rebounds but fails to breach above 34444. Targets are 34230 and 34142.
 

 
E-Mini S&P 500
 
U.S. stocks ended sharply higher Friday after a batch of mixed economic data, kicking off October with gains although major indexes posted losses for the week.
 

U.S. personal spending and incomes provided further evidence that the cost of goods and services are rising, with the rate of U.S. inflation at a 30-year high, and all signs pointing to price pressures snaking into next year.

The personal consumption expenditure price index climbed 0.4% in August, the government said Friday, marking the sixth straight increase. The rate of inflation in the 12 months ended in August edged up to 4.3% from 4.2%—the highest rate since 1991, when George H.W. Bush was president.

The Institute for Supply Management manufacturing index for September also rose to 61.1 from 59.9 in the prior month. A reading of 50 or better indicates improving conditions.

Energy prices have been soaring, including in Europe, with shortages on the continent as well as in Asia, where China has been hit by power cuts and outages. Traders are betting on higher crude demand after a report Thursday said China has ordered state-owned energy companies to secure winter supplies at all costs.

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Plan A : Long if market supported firm above 4340. Targets are 4351, 4362 and 4378.

Plan B : Short if market failed to support above 4340. Targets are 4324, 4310 and 4289.

 
 
 
E-Mini Nasdaq

U.S. stock futures were lower in early morning trading on Monday as investors readied for the first full week of trading in October and the fourth quarter.

The market rebound followed a rough September plagued by fears of inflation, Federal Reserve tapering and rising interest rates. The 10-year rate topped 1.56% last week, its highest point since June.

One of the first hurdles markets face in the new quarter is Friday’s closely watched employment report, which could spur the Federal Reserve’s decision on when to taper its bond-buying program.

Economists expect about 475,000 jobs were added in September, according to an early consensus figure from FactSetJust 235,000 payrolls were added in August, about 500,000 less than expected.
 

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Plan A : Long if market supported firm above 14651. Targets are 14682, 14715 and 14758.

 
Plan B : Short if market failed to support above 14651. Targets are 14610, 14565 and 14520.
 
 
 
HSI
 
Hong Kong shares ended lower on Thursday, dragged down by tech stocks after China said it would set up governance rules for algorithms in around three years.
 

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Plan A : Remain buy as long as market stays firm above 24450. Targets are 24630 and 24821.

Plan B : Consider short if market surges but fails to breach above 24821. Targets are 24630 and 24450.
 

 
 
WTI Crude
 
Oil rose above $78 a barrel on Friday, within sight of this week's three-year high, supported by tight supplies due to OPEC+ supply curbs, recovering demand a weaker U.S. dollar.
 

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

Plan A : Remain buy as long as oil price trades firmly above 74.4. Targets are 75.5 and 76.6.
 

Plan B : Consider short only if oil price fails to hold above 75.5. Targets are 74.4 and 73.1.
 
 
 
Gold
 
Gold inched higher on Friday as a weaker dollar and worries about rising inflation and risks to growth countered.
 

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

 

Plan A : Remain buy if gold price trades firmly above 1751. Targets are 1763 and 1777.9.
 

Plan B : Consider short if gold price fails to hold above 1751. Targets are 1742.9 and 1724.5.


 
 
 
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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