Where Futures Lies
Daily Futures Trading Strategy 2 February 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The S&P 500 registered its biggest daily percentage gain since Nov.24 on Monday while Dow gained 229-points after a steep sell-off last week, and technology-related shares led the advance, while a move by retail traders into silver drove up mining shares.
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Plan A : Remain sell as long as market trades below 30253. Targets are 30032 and 29759.
Plan B : Consider long only if market supports firmly above 30032 and rebound. Targets are 30253 and 30473.
E-Mini S&P 500
Stocks jumped on Monday, the first session of February, as Wall Street appeared to shake off concerns about a speculative retail trading mania that largely drove the market’s worst weekly sell-off since October.
Stocks jumped on Monday, the first session of February, as Wall Street appeared to shake off concerns about a speculative retail trading mania that largely drove the market’s worst weekly sell-off since October.
The S&P 500 climbed 1.6% to 3,773.86, posting its best day since Nov. 24 as all 11 sectors gained.
All three major averages slipped more than 3% last week for their worst weekly performance since October. The Dow and S&P also posted losses for January — the first negative month in three — although the Nasdaq did manage to post a gain for the month.
Meanwhile, a group of 10 Republican senators sent President Joe Biden a letter on Sunday, urging him to consider a smaller, scaled-down Covid-19 relief proposal. His current plan calls for $1.9 trillion in additional fiscal stimulus.
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Plan A : Short if market failed to support above 3793. Targets are 3768, 3741 and 3718.
Plan B : Long only if market supported firm above 3793. Targets are 3808, 3820 and 3840.
E-Mini Nasdaq
U.S. stock futures rose early Tuesday morning after the equity market kicked off the week with a bounce-back session.
The Nasdaq Composite jumped 2.6% to 13,403.39.
The positive day for equities came despite another volatile day in parts of the market that have been the focus of retail traders. Shares of GameStop, fresh off a 400% rise last week, slid 30% on Monday and continued to fall during after hours trading. The price of silver also jumped following increased chatter among traders late last week and over the weekend.
Investors will be met with a slew of earnings on Tuesday, including industry leaders Pfizer and ExxonMobil before the bell. Tech giants Amazon and Alphabet will report after the market close.
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Plan A : Long if market supported firm above 13308. Targets are 13339, 13372 and 13401.
Plan B : Short if market failed to support above 13308. Targets are 13266, 13221 and 13190.
HSI
Hong Kong shares ended higher on Monday, lifted by high-tech and consumer firms, as mainland investors continued to purchase shares through the Stock Connect programme.
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Plan A : Attempt buy if market supported firmly above 28638. Targets are 28980 and 29135.
Plan B : Consider short only if market recovers but fails to breach above 29135. Targets are 28980 and 28765.
WTI Crude
Oil prices rose more than 2% on Monday, buoyed by falling U.S. crude inventories and rising winter fuel demand as a one of the worst snowstorms in years hit the U.S. Northeast.
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Plan A : Remain buy as long as oil price trades firmly above 52.8. Targets are 53.6 and 54.2.
Plan B : Consider short if oil price fails to breach above 53.6 and retrace. Targets are 52.8nd 52.2.
Gold
The price of silver surged higher on Monday as the Reddit-fueled boom in highly shorted stocks appears to be spilling over into the metals market. Gold price however, still hovering around the 1860-level.
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Plan A : Long if gold price trades firmly above 1836.6. Targets are 1850.5 and 1860.6.
Plan B : Consider short if gold price trades below 1860.6. Targets are 1836.6 and 1806.8.
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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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....
