Where Futures Lies
Daily Futures Trading Strategy 9 April 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The S&P 500 and Dow closed at a record high on Thursday, as U.S. Treasury yields fell following softer-than-anticipated labor market data, boosting technology and other growth stocks.
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Plan A : Remain buy as long as market trades firmly above 33252. Targets are 33559 and 33939.
Plan B : Consider short if market surges but fails to breach above 33559. Targets are 33406 and 33252.
E-Mini S&P 500
The S&P 500 rose to another record high on Thursday amid a strong rally in major technology stocks.
The broad equity benchmark gained 0.4% to 4,097.17, its second straight record close.
Investors processed a worse-than-expected reading on the latest weekly jobless claims. A total of 744,000 Americans filed for unemployment benefits for the first time during the week ended April 3, the Labor Department said Thursday. Economists polled by Dow Jones expected first-time claims to total 694,000.
Federal Reverse chairman Jerome Powell signaled on Thursday that the economic rebound from the pandemic still has room to go as the recovery thus far hasn’t been well-rounded.
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Plan A : Long if market supported firm above 4092. Targets are 4106, 4121 and 4140.
Plan B : Short if market failed to support above 4092. Targets are 4071, 4045 and 4017.
E-Mini Nasdaq
U.S. stock futures were muted in early morning trading on Friday after the S&P 500 notched a fresh record in the regular session.
The tech-heavy Nasdaq Composite rallied 1% to 13,829.31 as Apple, Netflix and Microsoft all climbed more than 1%. Amazon and Alphabet also registered gains.
Treasury yields retreated from their recent highs with the 10-year Treasury yield hovering around 1.6%.
Federal Reserve Chairman Jerome Powell called the recovery from the pandemic “uneven” on Thursday, signaling a more robust recovery is needed.
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Plan A : Long if market supported firm above 13730. Targets are 13761, 13792 and 13822.
Plan B : Short if market failed to support above 13730. Targets are 13690, 13649 and 13611.
HSI
Hong Kong shares ended higher on Thursday after metal firms were lifted by expectations of strong demand for raw materials, as the country ramps up vaccination efforts.
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Plan A : Remain buy as long as market holds firm above 28912. Targets are 29148 and 29249.
Plan B : Consider short only if market surges but fails to breach above 29148. Targets are 29003 and 28912.
WTI Crude
Oil prices fell on Thursday after official figures showed a big increase in U.S. gasoline stocks, causing concerns about demand for crude weakening in the world's biggest consumer of the resource at a time when supplies around the world are rising.
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Plan A : Remain short as long as oil price stays below 59.8. Targets are 58.8 and 57.6.
Plan B : Consider long only if oil price able to trade firmly above 59.8 and surges. Targets are 60.8 and 61.4.
Gold
Gold prices climbed to their highest level in more than a month on Thursday as the dollar and U.S. yields dropped and the Federal Reserve's reiteration of its dovish policy stance also lifted bullion's appeal.
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Plan A : Remain buy as long as gold price trades firmly above 1752.4. Targets are 1759.4 and 1776.
Plan B : Consider short only if gold price surges but fails to breach above 1766. Targets are 1752.4 and 1734.
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....
