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Where Futures Lies

Author: Futurescoin   |   Latest post: Wed, 24 Nov 2021, 12:28 AM

 

Daily Futures Trading Strategy 5 November 2021

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

 
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E-Mini Dow

 
The S&P 500 and Nasdaq rose to record highs on Thursday while Dow slipped from an  all-time closing high hit on Wednesday, dragged down by shares of banks JPMorgan Chase & Co and Goldman Sachs Group.
 

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Plan A : Remain buy as long as market supported firmly above 35677. Targets are 35922 and 36028.
 
Plan B : Consider short if market surges but fails to breach above 36028. Targets are 35890 and 35677.



E-Mini S&P 500

The S&P 500 rose for a sixth day in a row on Thursday as investors took solace in the Federal Reserve’s patient stance on raising interest rates. Stronger-than-expected economic data also boosted sentiment.

The broad equity benchmark gained 0.4% to hit another record close of 4,680.06.

The central bank said it will begin to slow its bond-buying program later this month, signaling that the economy can now handle an unwinding of pandemic stimulus. Investors had long anticipated the move and liked that the Fed did not signal it would be any more aggressive than necessary in raising interest rates once the bond tapering was finished next year.

The S&P 500 is up 1.6% for the week, pushing its year-to-date return up to 24.6% as the benchmark enters a seasonally strong part of the year for markets.

On the data front, U.S. jobless claims totaled 269,000 for the week ended Oct. 30, the lowest pandemic-era total and better than the 275,000 expected by economists polled by Dow Jones.

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Plan A : Long if market supported firm above 4675. Targets are 4688, 4699 and 4708.
 
Plan B : Short if market failed to support above 4675. Targets are 4659, 4644 and 4625.
 


E-Mini Nasdaq

Stock futures were muted in early morning trading Friday ahead of the highly anticipated October jobs report.

Investors are awaiting the release of October nonfarm payroll numbers Friday morning. Consensus estimates call for 450,000 jobs added, according to Dow Jones. September’s report tallied 194,000 additional jobs, far short of the 500,000 estimate.

The Nasdaq Composite notched its ninth consecutive positive session, rising 0.8% to a record close. 

Market participants digested the Federal Reserve’s plan to begin tapering its pandemic aid by the end of November, putting the central bank on track to end its asset purchase program by the middle of next year.

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Plan A : Long if market supported firm above 16314. Targets are 16345, 16376 and 16407.
 
Plan B : Short if market failed to support above 16314. Targets are 16271, 16233 and 16189.

 

 
HSI
 
Hong Kong shares ended higher on Thursday, snapping a seven-day losing streak, supported by overnight gains on Wall Street after the U.S. Federal Reserve unveiled plans to taper its pandemic-era stimulus.
 

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Plan A : Remain sell as long as market stays below 25180. Targets are 24977 and 24839.

Plan B : Consider long only if market trades firmly above 24839 and rebound. Targets are 24977 and 25080.
 

 
 
WTI Crude
 
OPEC and its oil-producing allies have agreed to continue with their current output plan, deciding against loosening the taps in the face of multiyear highs in crude prices and U.S. pressure to help cool the market.
 

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Plan A : Remain short as long as oil price stays below 80.4. Targets are 79.5 and 78.2.

Plan B : Consider long if oil price trades firmly above 79.5 and rebound. Targets are 80.3 and 81.5.


 
 
Gold
 
Gold prices jumped 1% on Thursday after the Federal Reserve indicated it would be patient on raising interest rates and as the Bank of England defied expectations of more hawkish policy.
 

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Plan A : Attempt long if gold price trades firmly above 1781.8. Targets are 1791 and 1800.5.
 

Plan B : Consider short if gold price trades below 1791. Targets are 1786.7 and 1781.8.
 
 
 

 

 

 

 
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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