Where Futures Lies
Daily Futures Trading Strategy 5 November 2020
FUTURESCOIN IS GOING GLOBAL
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks surged to close higher on Wednesday as the presidential election race remained cloudy but the likelihood of gridlock in Congress made investors optimistic that major policy changes would be difficult to enact.
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Plan A : Remain buy as long as market supported firmly above 27459. Targets are 27675 and 27816.
Plan B : Consider sell if market breaks below 27459. Targets are 27348 and 27172.
E-Mini S&P 500
History said that the market would be volatile leading into the presidential election. History was right.
On Wednesday, the Dow finished the session with a gain of 367.63 points, or 1.3%. At its session high, the 30-stock average gained 821 points. The S&P 500 advanced 2.2%, while the Nasdaq Composite jumped 3.9%.
It is the day after Election Day, and the outcome in the race between President Donald Trump and Democratic nominee Joe Biden is far from decided. Trump won big states such as Florida, Texas and Ohio, according to NBC News projections, while Biden was leading in Arizona, and Wisconsin, Nevada, Michigan, Pennsylvania, Georgia and North Carolina are all either too early or too close to call. Earlier Wednesday morning Trump threatened legal action to stop vote counting days after the election.
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Plan A : Long if market retrace slightly and supported firm above 3456. Targets are 3471, 3487 and 3505.
Plan B : Short if market failed to support above 3456. Targets are 3437, 3411 and 3394.
E-Mini Nasdaq
U.S. stock index futures were higher in early morning trading on Thursday as investors hoped that the winner of the U.S. presidential election would soon be determined.
Even with the president-elect unclear, stocks rose broadly during Wednesday's trading session as hopes for a blue wave in Congress dwindled, which some argued would have been a headwind for areas of the market including Big Tech.
U.S. equities’ surge came despite the election results remaining up in the air following record voter turnout, as well as a jump in absentee ballots as people stayed home amid a spike in Covid-19 cases.
Facebook gained 8.3% on Wednesday, while Amazon and Alphabet advanced more than 6% each. Apple and Netflix rose 4% and 2%, respectively.
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Plan A : Long if market supported firm above 11895. Targets are 11920, 11958 and 11985.
Plan B : Short if market failed to support above 11895. Targets are 11862, 11831 and 11795.
HSI
Hong Kong stocks ended lower on Wednesday in volatile trading, after early results from U.S. presidential election proved far closer than polls had predicted.
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Plan A : Remain buy as long as market supported firmly above 24924. Targets are 25093 and 25363.
Plan B : Consider sell if market surges but fails to breach above 25363. Targets are 25093 and 24924.
WTI Crude
Oil prices jumped on Wednesday after President Donald Trump falsely claimed victory in a tight U.S. election with millions of votes still to be counted and after data showed a large decline in U.S. crude inventories.
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Plan A : Remain buy as long as oil price trades firmly above 38.2. Targets are 38.9 and 39.5
Plan B : Consider short if oil price surges but fails to breach above 39.3. Targets are 38.2 and 37.0
Gold
Gold prices fell on Wednesday as bets that the Democrats will be unable to take control of the U.S. Senate in the razor-edge American election dashed hopes for a larger U.S. coronavirus stimulus.
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Plan A : Attempt short if gold price breaks below 1910. Targets are 1885 and 1878.
Plan B : Consider buy only if gold price holds resiliently above 1910. Targets are 1918 and 1935.
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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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
