Where Futures Lies
Daily Futures Trading Strategy 20 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 ended in positive territory on Thursday as fresh stimulus hopes buoyed investor sentiment toward the end of the a session fraught with worries over mounting shutdowns and layoffs linked to spiraling COVID-19 infection rates.
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Plan A : Attempt buy if market able to hold trades firmly above 29323. Targets are 29430 and 29611.
Plan B : Remain sell as long as market stays below 29323. Targets are 29144 and 29062.
E-Mini S&P 500
Stocks closed slightly higher on Thursday as traders increased their exposure to major tech names amid a rising number of coronavirus cases.
The Dow gained 44.81 points, or 0.2%, to close at 29,483.23. Earlier in the day, the Dow fell more than 200 points. The S&P 500 climbed 0.4% to 3,581.87 and the Nasdaq Composite advanced 0.9% to 11,904.71. It was the first gain for the major averages in three sessions.
Stocks also got a boost after Senate Minority Leader Chuck Schumer, D-NY, said Majority Leader Mitch McConnell, R-KY, had agreed to resume negotiations on new fiscal stimulus.
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Plan A : Short if market failed to support above 3557. Targets are 3532, 3505 and 3479.
Plan B : Long if market doesn't retrace much but supported firm above 3557. Targets are 3572, 3589 and 3605.
E-Mini Nasdaq
Stocks futures fell in overnight trading on Thursday as rising new coronavirus cases cast doubt on a swift economic recovery.
Netflix and Amazon gained 0.6% and 0.4%, respectively. Alphabet rose 1%, and Microsoft closed higher by 0.6%. Apple rose 0.5% and Facebook ended the day up 0.4%.
Also weighing on sentiment was a disagreement between the Treasury Department and the Federal Reserve over the continuation of funding for some of the emergency programs implemented during the recession.
The market’s rally to records slowed down in recent days as more immediate concerns about the worsening pandemic overshadowed optimism toward a viable vaccine.
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Plan A : Long if market doesn't retrace much and supported firm above 11959. Targets are 11989, 12021 and 12055.
Plan B : Short if market failed to support above 11959. Targets are 11918, 11875 and 11831.
HSI
Hong Kong stocks ended lower on Thursday, pressured by the materials and property sectors, but stronger consumer firms capped losses after news of Beijing pledge to boost domestic consumption to salvage a pandemic-ravaged economy.
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Plan A : Remain buy as long as market stays firm above 26238 . Targets are 26449 and 26509.
Plan B : Consider sell only if market fails to stay firm above 26416. Targets are 26238 and 26072.
WTI Crude
Oil prices slipped on Thursday as hopes for a vaccine were overshadowed by a surge in new cases of the coronavirus around the world, which raised concerns about the outlook for crude demand.
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Plan A : Remain buy as long as oil price trades firmly above 40.9. Targets are 41.5 and 42.2
Plan B : Consider sell if oil price surges but fails to breach above 42.2. Targets are 41.5 and 40.9
Gold
Gold slipped as much as 1% on Thursday as the dollar firmed and progress in COVID-19 vaccine development boosted hopes of a faster economic rebound and tempered bets for an immediate U.S. coronavirus relief package.
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Plan A : Remain sell as long as gold price stays below 1885. Targets are 1876 and 1854.
Plan B : Consider buy only if gold price holds resiliently above 1854. Targets are 1865 and 1876.
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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Ride The Bull Short The Bear
CS Tan
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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....
