Where Futures Lies
Daily Futures Trading Strategy 14 April 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The S&P 500 closed at another record high on Tuesday with Nasdaq jumped while Dow fell 68-points as investors shook off concerns about the halt in Johnson & Johnson's COVID-19 vaccine rollout and strong U.S. inflation.
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Plan A : Attempt sell if market trades below 33559. Targets are 33419 and 33252.
Plan B : Consider long only if market supports firmly above 33419 and rebound. Targets are 33559 and 33712.
E-Mini S&P 500
U.S. stocks traded mostly higher on Tuesday after a March inflation report turned out not as bad as some traders feared, but the impact of a halt to the rollout of Johnson & Johnson vaccine kept optimism in check.
The S&P 500 added 0.33% to finish at 4,141.59 and locked in a new closing high.
Reopening trades came under pressure Tuesday morning after the U.S. Food and Drug Administration said it’s recommending a pause in the Johnson & Johnson Covid-19 vaccine after reported cases of blood clotting.
The market has been calm over the past week as Wall Street settled into a lull ahead of the first-quarter earnings season. Corporate news is set to pick up later in the week, with JPMorgan Chase, Goldman Sachs and Delta Air Lines among the companies set to report quarterly results.
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Plan A : Long if market retraced but supported firm above 4126. Targets are 4141, 4156 and 4180.
Plan B : Short if market failed to support above 4126. Targets are 4102, 4081 and 4055.
E-Mini Nasdaq
U.S. stock futures were flat in overnight trading on Tuesday ahead of the first batch of corporate earnings.
The Nasdaq Composite, the relative outperformer, gained just over 1% to 13,996.1 as Apple and PayPal each added more than 2%. Semiconductor maker Nvidia climbed 3%, Tesla rose 8.6%.
The Labor Department’s consumer price index came in slightly hotter than expected on Tuesday. The CPI rose 0.6% from the previous month but 2.6% from the same period a year ago. Economists polled by Dow Jones projected the headline index to rise by 0.5% month-over-month and 2.5% year-over-year.
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Plan A : Long if market retraced but supported firm above 13920. Targets are 13950, 13988 and 14015.
Plan B : Short if market failed to support above 13920. Targets are 13882, 13845 and 13788.
HSI
Hong Kong's Hang Send index rose on Tuesday in a quiet session as financial firms rebounded following two days in the red, and as robust China trade data for March lifted investors' confidence in the global recovery.
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Plan A : Attempt short if market rebounds but fails to breach above 28639. Targets are 28366 and 28029.
Plan B : Consider buy only if market able to hold resilient above 28366 and rebound. Targets are 28487 and 28540.
WTI Crude
Oil prices rose about 1% on Tuesday on strong Chinese import data, but the rally was capped by concerns that pauses on the Johnson & Johnson vaccine could delay economic recovery and limit oil demand growth.
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Plan A : Remain buy as long as oil price trades firmly above 59.8. Targets are 60.8 and 61.4.
Plan B : Consider short only if oil price recovers but fails to breach above 60.8. Targets are 59.8 and 59.1
Gold
Gold prices bounced off a more than one-week low on Tuesday after data showing a sharp rise in U.S. inflation bolstered bullion's appeal as an inflation hedge and weighed on the dollar.
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Plan A : Remain sell as long as gold price stays trading below 1752.4. Targets are 1730.3 and 1725.2
Plan B : Consider long only if gold price remain resilient above 1730.3 and rebound. Targets are 1752.4 and 1760.
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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