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Where Futures Lies

Author: Futurescoin   |   Latest post: Mon, 18 Oct 2021, 3:34 AM

 

Daily Futures Trading Strategy 8 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 higher on Thursday in a broad-based rally led by Big Tech, as a truce in the debt-ceiling standoff in the U.S. Congress relieved concerns of a possible government debt default this month.
 

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Plan A : Remain buy as long as market stays above 34526. Targets are 34740 and 34909.
 
Plan B : Consider short if market surges but fails to breach above 34909. Targets are 34740 and 34657.

 
 
E-Mini S&P 500

U.S. stocks climbed on Thursday in a broad-based rally led by heavyweight technology stocks, after a temporary truce in the debt-ceiling standoff in Congress relieved concerns of a possible government debt default later this month.

U.S. Senate Majority Leader Chuck Schumer announced Senate leaders have agreed to raise the Treasury Department's borrowing authority until early December, with a possible vote for a debt limit increase of $480 billion coming as soon as Saturday. 

All of the 11 major S&P 500 sectors advanced, with eight of them jumping more than 1%. Materials was the biggest gainer, up 2%, followed by healthcare and consumer discretionary. 

A survey from the ADP National Employment Report showed a strong increase in private payrolls in September and ahead of the more comprehensive non-farm payrolls data due on Friday. It is expected to cement the case for the Federal Reserve's slowing of asset purchases.

 

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Plan A : Long if market supported firm above 4411. Targets are 4422, 4435 and 4449.
 
Plan B : Short if market failed to support above 4411. Targets are 4395, 4380 and 4362.
 
 
 
E-Mini Nasdaq

U.S. stock index futures were little changed during early trading Friday morning as Wall Street awaits Friday’s key September jobs report.

Stocks advanced during regular trading on Thursday as Washington reached a deal to raise the debt ceiling into December. The S&P 500 advanced for a third day, gaining 0.83%. 

All eyes are on Friday’s jobs report, which will be key as the Federal Reserve prepares to slow its $120 billion-per-month bond-buying program. Economists are expecting the economy to have added 500,000 jobs in September, according to estimates from Dow Jones. In August, just 235,000 jobs were added, significantly below the consensus estimate of 720,000.

The Department of Labor said Thursday that jobless claims for the prior week totaled 326,000. That was lower than the 345,000 economists had been calling for. Continuing claims, meanwhile, declined by 97,000 to 2.71 million.

Uncertainty around the debt ceiling had been a headwind for the market but other risks remain, including accelerating inflation and rising rates. The 10-year Treasury yield was around 1.57% on Thursday, and UBS sees it rising to 1.8% by the end of the year.

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Plan A : Long if market supported firm above 14897. Targets are 14928, 14961 and 14999.
 
Plan B : Short if market failed to support above 14897. Targets are 14855, 14812 and 14773.
 
 
 
HSI
 
Hong Kong stocks on Thursday notched their biggest daily percentage gain in 10 weeks, tracking Asian peers higher, with technology shares rebounding while major property developers jumped after the financial hub's leader unveiled a new housing policy.
 

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Plan A : Remain buy as long as market stays firm above 24558. Targets are 24720 and 24832.

Plan B : Consider short if market surges but fails to breach above 24832. Targets are 24720 and 24558.

 
 
WTI Crude
 
Oil futures rebounded on Thursday, as the market deemed it is unlikely that the United States would release emergency crude reserves or ban exports to ease tight supplies.
 

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Plan A : Attempt long if oil price trades firmly above 77.9. Targets are 79.4 and 80.0

Plan B : Consider short if oil price surges but fails to breach above 80.0. Targets are 78.8 and 77.9.
 

 
Gold
 
Gold fell on Thursday as a drop in U.S. weekly initial jobless claims, ahead of the monthly jobs data later this week, boosted Treasury yields and stoked bets that the U.S. Federal Reserve may soon start winding down its economic support.
 

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 1752.6. 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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