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Where Futures Lies

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

 

Daily Futures Trading Strategy 5 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 ended sharply lower on Monday as investors dumped Big Tech and other growth stocks in the face of rising Treasury yields, while concerns about a potential U.S. government debt default also fed caution.
 

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Plan A : Remain sell as long as market stays below 34142. Targets are 33714 and 33522.
 
Plan B : Consider long if market trades firmly above 33714. Targets are 33930 and 34142.

 
 
E-Mini S&P 500
 

The major averages took steep losses to start the week as investors continued their rotation out of technology stocks amid rising bond yields.

The S&P 500 shed 1.3% to 4,300.46. 

The market rebound followed a rough September plagued by fears of inflation, Federal Reserve tapering and rising interest rates. The S&P 500 finished the month down 4.8%, breaking a seven-month winning streak. 

The fourth quarter is typically a good period for stocks, but overhangs like central bank tightening, the debt ceiling, Chinese developer Evergrande and Covid-19 could keep investors cautious. Heading into the fourth quarter, more than half of all S&P stocks are off at least 10%.

The S&P 500 has averaged gains of 3.9% in the fourth quarter and was up four out of every five years since World War II, according to CFRA.

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.

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Plan A : Short if market failed to support above 4302. Targets are 4287, 4270 and 4252.
 
Plan B : Long if market supported firm above 4302. Targets are 4313, 4324 and 4335.
 

 

E-Mini Nasdaq
 

Stock futures were muted in overnight trading on Monday following a tech-led sell-off as investors continued to dump high-flying shares in the face of rising rates.

On Monday, the Nasdaq Composite dropped 2.1% for its sixth negative day in seven as tech heavyweights Apple, Alphabet, Amazon and Microsoft all fell at least 2%. Shares of Facebook slipped 4.9%.

The 10-year Treasury yield was slightly higher Monday, trading around 1.48%. The 10-year U.S. Treasury yield hit 1.56% last week, its highest point since June, with investors concerned about inflationary pressures and tighter monetary policy.

A recent jump in bond yields caused investors to flee highly valued tech stocks as higher rates make their future profits less attractive.

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Plan A : Short if market failed to support above 14588. Targets are 14547, 14500 and 14459. 
 
Plan B : Long if market supported firm above 14588. Targets are 14619, 14651 and 14686.
 
 
 
HSI
 
Hong Kong shares dropped on Monday, dragged by healthcare stocks, but investors were closely watching beleaguered develop China Evergrande, whose shares were suspended ahead of an announcement about a major transaction.
 

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Plan A : Remain sell as long as market stays below 24078. Targets are 23940 and 23858.

Plan B : Consider long if market supports firmly above 23798 and rebound. Targets are 23940 and 24078.

 
 
WTI Crude
 
WTI crude gained $1.74 or 2.29% to end the day at $77.62.  OPEC+ agreed on Monday to stick to an existing pact to hike oil output by 400,000 barrels per day (bpd) in November, despite consumer calls for more crude and surging prices that threaten an economic recovery from the pandemic.
 

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Plan A : Remain buy as long as oil price trades firmly above 76.6. Targets are 77.9 and 80.0.

Plan B : Consider short only if oil price surges but fails to breach above 77.9. Targets are 77.4 and 76.6.

 
 
Gold
 
Gold prices eased on Tuesday as the U.S. dollar edged higher, but lingering inflation concerns kept bullion close to a more than one-week peak hit in the previous session.
 

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 1755.7. Targets are 1770 and 1777.9.

 
Plan B : Consider short if gold price surges but fails to breach above 1770. Targets are 1761 and 1755.7.


 
 
 
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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