Where Futures Lies

Daily Futures Trading Strategy 10 December 2020

Futurescoin
Publish date: Thu, 10 Dec 2020, 03:01 AM

     FUTURESCOIN IS GOING                       GLOBAL

 

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

 
U.S. stocks closed lower on Wednesday, retreating from record levels as investors grew discouraged over the halting progress of economic stimulus talks, while a drop in Facebook shares provided an additional drag.
 

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Plan A : Remain buy as long as market stays firm above 29899. Targets are 30145 and 30255.
 
Plan B : Consider sell if market surges but fails to breach above 30255. Targets are 30145 and 29899.
 
 
E-Mini S&P 500
 

Stocks fell on Wednesday, retreating from the record highs set earlier in the day, as tech shares struggled and traders weighed the prospects of new fiscal stimulus.

The Dow closed 105.07 points lower, or 0.35%, at 30,068.81. The S&P 500 fell 0.8% to 3,672.82. The Nasdaq Composite pulled back by 1.9% to close at 12,338.95. All three averages also touched fresh intraday records.

Apple was among the worst-performing Dow components, falling more than 2%. Salesforce dropped 3.2%. The S&P 500 tech sector fell 1.9% to lead the index lower. Facebook declined 1.9% after the Federal Trade Commission, along with several states, filed lawsuits that could force the social media giant to divest Instagram and WhatsApp.


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Plan A : Long if market doesn't retrace much and supported firm above 3673. Targets are 3687, 3705 and 3719.

Plan B : Short if market failed to support above 3673. Targets are 3648, 3620 and 3595.
 

 
E-Mini Nasdaq
 

U.S. stock index futures dipped slightly early Thursday as investors continued to assess progress on additional stimulus measures, as well as developments on the Covid-19 vaccine front.

During regular trading hours on Wednesday stocks rose to record highs. But the gains were ultimately short-lived, and the major averages wound up closing in the red.

The Nasdaq Composite pulled back by 1.9% for its worst day since Oct. 30. The tech-heavy index also snapped a four-day winning streak.

The ongoing negotiations come as the Covid-19 crisis worsens in the U.S. But the rollout of Pfizer’s vaccine in the U.K., which began on Tuesday, has spurred some optimism. And some Wall Street strategists believe a widely available vaccine will lift stocks to new highs in 2021.

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Plan A : Long if market retraced but supported firm above 12282. Targets are 12310, 12346 and 12369.

Plan B : Short if market failed to support above 12282. Targets are 12243, 12200 and 12165.

 
 
HSI
 
Hong Kong shares ended higher on Wednesday, tracking bullish sentiment in the region buoyed by Britain's COVID-19 vaccine rollout and other positive news related to the vaccine.
 

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Plan A : Consider sell if market stays below 26460. Targets are 26370 and 26238.

 
Plan B : Attempt buy if market holds resiliently above 26238 and rebound. Targets are 26405 and 26508.
 
 
 
WTI Crude
 
Oil prices were little changed on Wednesday as investors weighed an unexpected jump in U.S. crude stockpiles against optimism that a fast rollout of a coronavirus vaccine would fuel a recovery in global oil demand.
 

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Plan A : Remain buy as long as oil price trades firmly above 45.4. Targets are 46.2 and 46.8    

 

Plan B : Consider sell only if oil price surges but fails to breach above 46.2. Targets are 45.4 and 44.2
 
 
 
Gold
 
Gold retreated more than 2% on Wednesday as optimism driven by more progress on the COVID-19 vaccine front bolstered hopes for a smoother economic recovery.

 
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Plan A : Attempt sell if gold price stays below 1854. Targets are 1837 and 1828.
 
Plan B : Consider buy only if gold price tests support 1829 and rebound. Targets are 1840 and 1854.
 
 
 

 

 

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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