Daily Futures Trading Strategy 13 January 2021

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Publish date: Wed, 13 Jan 2021, 02:33 AM

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

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E-Mini Dow

Overnight Dow gained 60-points while shares in smaller companies soared to record highs as investors favored more economically sensitive market segments as they bet on a recovery in 2021.

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Plan A : Remain buy as long as market stays firm above 30831. Targets are 31090 and 31406.

Plan B : Consider short only if market surges but fails to breach above 31090. Targets are 30960 and 30831.

E-Mini S&P 500

Stocks closed along the flatline on Tuesday as traders weighed higher rates, possible stimulus and political turmoil.

The S&P 500 rose marginally to 3,801.19. Losses from major tech companies kept Tuesday’s moves in check.

The benchmark 10-year note yield briefly traded at 1.187%, its highest level since March, before easing back to 1.13%. The 30-year bond rate climbed to 1.88%, and also reached a March 2020 high.

However, higher rates could make it more expensive for tech companies — which have been the market leaders throughout the pandemic — to keep growing their businesses through additional debt issuance.

The S&P 500′s forward price-to-earnings ratio was at 22.7, near its highest level since 2000. DoubleLine Capital CEO Jeffrey Gundlach pointed out on Monday that stock valuations are high relative to historical standards, and are being underpinned solely by stimulus measures from the Federal Reserve.

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Plan A : Short if market failed to support above 3805. Targets are 3780, 3752 and 3722.

Plan B : Long only if market supported firm above 3805. Targets are 3821, 3838 and 3850.

E-Mini Nasdaq

U.S. stock index futures were modestly higher in overnight trading on Tuesday, after a session that saw stocks alternate between gains and losses.

The Nasdaq Composite ended the day up 0.3% at 13,0720.43. Facebook fell 2.2%, and Alphabet slid 1.1%. Microsoft and Apple also lost more than 1%.

Several social media companies have suspended or banned Trump from their platforms. In some cases, this has put pressure on their stocks. Twitter fell 2.4% on Tuesday, and is down 8.6% this week. Facebook has lost 6.2% week to date.

Expectations for additional fiscal stimulus is one of the reasons behind the steady move higher in yields. President-elect Joe Biden is expected to release details on his economic plan on Thursday.

Following Tuesday’s muted session, the major averages remain lower for the week after Monday’s slide. The Nasdaq Composite is the relative underperformer, down roughly 1% over the last two sessions.

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Plan A : Short if market failed to support above 12946. Targets are 12905, 12864 and 12815.

Plan B : Long only if market supported firm above 12946. Targets are 12975, 13002 and 13040.

HSI

Hong Kong shares closed at a near one-year high on Tuesday, underpinned by continued capital inflows from mainland.

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Plan A : Remain buy as long as market trades firmly above 27940. Targets are 28396 and 28555.

Plan B : Consider short if market surges but fails to breach above 28396. Targets are 28140 and 27940.

WTI Crude

Oil hit an 11-month high towards $57 a barrel on Tuesday as tighter supply and expectations of a drop in U.S. inventories offset concerns over climbing coronavirus cases globally.

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Plan A : Remain buy as long as oil price stays firm above 52.8. Targets are 53.6 and 54.2

Plan B : Consider short if oil price surges but fails to breach above 53.6. Targets are 52.8 and 51.5

Gold

Gold prices edged higher in a choppy trading on Tuesday as the U.S. dollar and Treasury yields eased, while prospects of higher inflation driven by more U.S. fiscal stimulus provided further support to the metal.

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Plan A : Remain short as long as gold price trades below 1860.6. Targets are 1836.6 and 1806.8.

Plan B : Consider buy only if gold price trades firmly above 1836.6. Targets are 1849 and 1860.6.

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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