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Author: Futurescoin   |   Latest post: Wed, 1 Dec 2021, 4:14 AM

 

Daily Futures Trading Strategy 19 November 2021

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

 
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E-Mini Dow

 
Both the S&P 500 and the Nasdaq eked out record closing highs while Dow lost 60-points after a topsy-turvy Thursday on Wall Street, as investors focused on upbeat retail and technology earnings which outshone hawkish inflation comments from a Federal Reserve policymaker.
 

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Plan A : Remain sell as long as market stays below 36028. Targets are 35799 and 35549.
 
Plan B : Consider long if market supports firmly above 35799 and rebound. Targets are 35899 and 36028.



E-Mini S&P 500


The S&P 500 gained in a choppy session after strong earnings results from Nvidia, the world’s largest chipmaker by market value, and various retailers.

The S&P 500 was 0.3% higher to 4,704.54.

Investors also moved into tech stocks broadly as U.S. Treasury yields took a dip of roughly 2 basis points. Scott Brown, technical strategist for LPL Financial, noted the S&P 500 Information Technology sector has gained 27% in the past six months, outperforming the broader S&P 500 by more than 10%.

More than 90% of the S&P 500 companies have handed in their financial results for the third quarter, and over 80% of them reported earnings better than Street’s expectations, according to Refinitiv. S&P 500 companies are on track to grow profit by 41.5% year over year.
 

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Plan A : Long if market supported firm above 4718. Targets are 4729, 4740 and 4751.

 
Plan B : Short if market failed to support above 4718. Targets are 4702, 4687 and 4669.
 



E-Mini Nasdaq
 

Stock futures edged up in overnight trading on Thursday as the S&P 500 aims to post a winning week.

The market rally appeared to have slowed down a bit near record levels even amid strong corporate earnings. Macy’s and Kohl’s both blew past analyst estimates in their quarterly earnings reports on Thursday.

The tech-heavy Nasdaq Composite are headed for modest gains, up 0.8% this week. 

Initial filings for unemployment insurance fell slightly to 268,000 for the week ending Nov. 13, the Labor Department reported Thursday. That was the lowest level since March 2020, and the seventh straight weekly decline. Economists polled by Dow Jones expected them to have fallen to 260,000, compared to the previous week’s adjusted 269,000 claims.


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Plan A : Long if market supported firm above 16457. Targets are 16487, 16519 and 16550.

Plan B : Short if market failed to support above 16457. Targets are 16416, 16375 and 16333.

 

 
HSI
 
Hong Kong shares finished down on Thursday, pressured by tech groups ahead of earnings amid regulatory concerns, while real estate developers dropped on liquidity troubles.
 

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Plan A : Remain sell as long as market stays below 25088. Targets are 24830 and 24617.
 

Plan B : Consider long if market supports above 24830 and rebound. Targets are 25047 and 25182.
 
 
 
WTI Crude
 
Oil prices rose on Thursday, bouncing after a drop to six-week lows as investors wondered about how much crude major economies would release from their strategic reserves and how much that would ease global crude demand pressures.
 

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Plan A : Remain sell as long as oil price stays below 79.8. Targets are 78.2 and 76.4.

Plan B : Consider long if oil price trades resiliently above 78.2 and rebound. Targets are 79.8 and 80.9.

 
 
Gold
 
 
Gold price slipped on Thursday as encouraging weekly U.S. jobless claims data strengthened bets for an earlier-than-expected rate hike by the Federal Reserve following recent strong inflation data out of the United States.
 

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

 

Plan A : Remain buy as long as gold price trades firmly above 1852.2. Targets are 1870 and 1879.5.

 
Plan B : Consider short if gold price surges but fails to breach above 1879.5. Targets are 1852.2 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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