Where Futures Lies

Daily Futures Trading Strategy 27 April 2021

Futurescoin
Publish date: Tue, 27 Apr 2021, 05:38 AM

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

 

 
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E-Mini Dow

 
Dow fell 0.18% on Monday while S&P 500 and Nasdaq  closed at record highs, fueled by Tesla Inc and other heavyweight growth stocks ahead of a deluge of earnings report this week.
 

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Plan A : Remain buy as long as market trades firmly above 33845. Targets are 33939 and 34060.
 
Plan B : Consider short only if market stays trading below 33939. Targets are 33559 and 33252.
 

 
E-Mini S&P 500
 

The S&P 500 rose slightly to a new record high on Monday as investors geared up for one of the busiest weeks of the first-quarter earnings season.

The broad equity benchmark inched 0.2% higher to a closing record of 4,187.62.  

The decline in consumer companies came amid surging commodity prices, which fueled fears of inflation. Corn futures hit their highest level in more than seven years in volatile trading, while copper climbed to its highest level in nearly a decade. Commodities are a big portion of costs for consumer staples.

About a third of the S&P 500 this week is set to update investors on how their businesses fared during the three months ended March 31. Some of the largest tech companies in the world are scheduled to report results this week, including Apple, Microsoft, Amazon and Alphabet.

The S&P 500 ended the volatile week down 0.13% and snapped a four-week win streak. The Dow and the Nasdaq fell 0.5% and 0.3% last week, respectively.

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Plan A : Long if market retraced but supported firm above 4172. Targets are 4188, 4203 and 4220.

Plan B : Short if market failed to support firm above 4172. Targets are 4147, 4122 and 4090.

 
 
E-Mini Nasdaq
 

Stock futures held steady in overnight trading on Monday as investors braced for another batch of corporate earnings.

The Nasdaq Composite climbed 0.9% to 14,138.78, hitting its first fresh record close since Feb. 12.

The first-quarter earnings season kicks into high gear on Tuesday with key companies such as Alphabet, Microsoft, Starbucks and AMD reporting after the bell.

The Federal Reserve kicks off its two-day policy meeting on Tuesday. The central bank is not expected to take any action, but economists expect it to defend its policy to let inflation run hot.

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Plan A : Long if market retraced but supported firm above 13939. Targets are 13970, 14001 and 14033.

Plan B : Short if market failed to support above 13939. Targets are 13890, 13857 and 13821.

 

HSI
 
Hong Kong stocks weakened on Monday, as worries over a resurgence of coronavirus outbreak in overseas countries weighed on sentiment.
 

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Plan A : Remain buy as long as market trades firm above 28912. Targets are 29184 and 29249.

Plan B : Attempt sell only if market rebounds but fails to breach above 29249. Targets are 28912 and 28788.

 
 
WTI Crude
 
Oil prices fell on Monday on fears that surging COVID-19 cases in India will drive down fuel demand in the world's third biggest oil importer and as investors adjusted positions ahead of a planned increase in OPEC+ oil output from May.
 

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Plan A : Remain buy as long as oil price trades firmly above 61.4. Targets are 62.1 and 62.6.

 
Plan B : Consider selling only if oil price surges but fails to breach above 62.6. Targets are 61.9 and 61.4.

 
 
Gold
 
Gold prices steadied in a relatively tight range on Monday as investors awaited policy cues from the Federal Reserve's meeting this week.
 
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Plan A : Remain buy as long as gold price trades firmly above 1776. Targets are 1795.1 and 1814.1.
 
Plan B : Consider short only if gold price fails to breach above 1795.1 and retrace. Targets are 1776 and 1766.
 
 
 

 

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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