Highlights

Where Futures Lies

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

 

Daily Futures Trading Strategy 17 November 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 closed higher on Tuesday as earnings from Home Depot and retail sales data signaled solid consumer health and eased worries about a Federal Reserve that may have to become more aggressive in the face of rising inflation.
 

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Plan A : Attempt sell if market trades below 36028. Targets are 35910 and 35770.
 
Plan B : Consider long if market supports firmly above 36028. Targets are 36134 and 36254.



E-Mini S&P 500

U.S. stocks gained on Tuesday after a strong October retail sales report and better-than-expected third-quarter results from Home Depot and Walmart signaled the U.S. consumer is still ramping up spending even in the face of rising prices.

The S&P 500 gained 0.39% to 4,700.90.

The latest retail sales figures for October showed consumers were increasing their spending, with sales jumping 1.7%. That compares to a 0.8% increase in the prior month. The report showed broad strength in a number of categories from autos to sporting goods. Online sales were up 10.2% from a year ago. The gains came even as consumer prices surged 6.2% year-over-year last month, inflation not seen since the 1990s.

Investors await more retail earnings Wednesday from Target, Lowe’s, TJX, Bath & Body Works and Victoria’s Secret. Other major companies reporting results Wednesday include Cisco Systems and Nvidia.
 

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Plan A : Long if market supported firm above 4686. Targets are 4699, 4711 and 4722.

Plan B : Short if market failed to support above 4686. Targets are 4671, 4652 and 4638.



E-Mini Nasdaq

Stock futures were little changed in early morning trading on Wednesday ahead of earnings reports from big-box retailers Target and Lowe’s.

The moves in futures trading come after fresh economic data and corporate earnings signaled U.S. consumers are ramping up spending despite rising prices.

The Nasdaq Composite rose 0.76%.

Retail sales rose 1.7% in October, the Commerce Department reported Tuesday, faster than economists expected. The figure measures how much consumers spend on goods across a number of categories.

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Plan A : Long if market supported firm above 16273. Targets are 16305, 16336 and 16368.

 
Plan B : Short if market failed to support above 16273. Targets are 16231, 16190 and 16145.

 
 
HSI
 
Hong Kong shares finished up on Tuesday, as investors embraced positive signs in talks between U.S. President Joe Biden and Chinese leader Xi Jinping.
 

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Plan A : Remain buy as long as market trades firmly above 25493. Targets are 25739 and 26047.
 

Plan B : Consider short if market surges but fails to breach above 25739. Targets are 25551 and 25493.
 
 
 
WTI Crude
 
Oil prices settled mixed on Tuesday, as prospects of tight inventories worldwide were offset by forecasts of a production increase in coming months and concerns over rising coronavirus cases in Europe.
 

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Plan A : Remain sell as long as oil price stays below 81.2. Targets are 80.3 and 79.8.

Plan B : Consider long if oil price trades resiliently above 79.8. Targets are 80.7 and 81.2.
 

 
 
Gold
 
Gold prices rose on Tuesday, holding close to an over five-month peak hit in the previous session as investors feared that inflation would persist for longer, driving demand for bullion as a hedge against inflation.
 

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Plan A : Remain buy as long as gold price trades firmly above 1842.2. Targets are 1870 and 1879.5.

 
Plan B : Consider short if gold price surges but fails to breach above 1879.5. Targets are 1842.2 and 1819.1
 

 

 

 

 
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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