Where Futures Lies

Daily Futures Trading Strategy 30 April 2021

Futurescoin
Publish date: Fri, 30 Apr 2021, 04:30 AM

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

 

 
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E-Mini Dow

 
Dow rose 0.71% while S&P 500 closed at a record high on Thursday, fueled by gains in Facebook following its strong earnings report, while Amazon jumped in extended trade following its quarterly report.
 

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Plan A : Remain buy as long as market trades firmly above 33855. 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 closed at record levels on Thursday after blowout earnings results from two of the biggest tech companies in the world: Apple and Facebook.

The S&P 500 advanced just under 0.7% to finish the day at 4,211.47, a new closing high.

First-quarter GDP hit an annualized rate of 6.4%, according to a report published by the Bureau of Economic Analysis, a sign that the U.S. economy began 2021 with an acceleration of commercial activity. Outside of the reopening-fueled third-quarter surge last year, it was the best period for GDP since the third quarter of 2003.

 

The Labor Department, meanwhile, reported that initial jobless claims last week totaled 553,000, just above the 528,000 estimate issued by Dow Jones.

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Plan A : Long if market supported firm above 4189. Targets are 4204, 4217 and 4235.

Plan B : Short if market failed to support above 4189. Targets are 4165, 4139 and 4110.

 
 
E-Mini Nasdaq

Futures contracts tied to the major U.S. stock indexes dipped at the start of the overnight session Thursday evening as investors pored over a flurry of earnings results and a robust profit beat from e-commerce giant Amazon.

The tech-heavy Nasdaq Composite, which began the day up 1%, underperformed with a gain of just over 0.2% to end the session at 14,082.55.

Apple, which reported earnings yesterday afternoon, said that sales jumped 54% during the quarter, with each product category seeing double-digit growth. The company also said it would increase its dividend by 7%, and authorized $90 billion in share buybacks. Still, Apple shares ended the day just under the flatline.

Exxon Mobil, Chevron, and Colgate-Palmolive will all report earnings on Friday.

Wall Street will also be keep a close eye on personal income and spending data, set for release at 8:30 a.m. ET Friday morning. That data could provide investors, and the Federal Reserve, with a valuable look at how quickly prices are rising across the U.S. economy as it recovers from the Covid-19 pandemic.

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Plan A : Short if market failed to support above 13895. Targets are 13855, 13810 and 13771.

Plan B : Long if market supported firm above 13895. Targets are 13925, 13958 and 13992.

 

HSI
 
Hong Kong stocks finished the session higher on Thursday, tracking gains in its peers in the region after the U.S. Federal Reserve said it was too early to consider rolling back emergency support for the economy.
 

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Plan A : Remain buy as long as market trades firm above 29100. Targets are 29314 and 29430.

Plan B : Attempt sell only if market surges but fails to breach above 29314. Targets are 29181 and 28975.

 
 
WTI Crude
 
Oil prices extended gains on Thursday after rising 1% in the previous session, as bullish forecasts of recovering demand outweighed concerns about the impact of rising COVID-19 cases in Brazil, India and Japan.
 

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Plan A : Remain buy as long as oil price trades firmly above 63.9. Targets are 64.9 and 65.5.

 
Plan B : Consider selling only if oil price surges but fails to breach above 64.9. Targets are 63.9 and 62.6.
 
 
 
Gold
 
Gold fell more than 1% on Thursday as U.S. Treasury yields jumped on upbeat U.S. economic data.
 
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Plan A : Attempt sell if gold price stays trading below 1776. Targets are 1767 and 1752.4.
 
Plan B : Consider long only if gold price holds firmly above 1752.4 and rebound. Targets are 1776 and 1786.
 
 
 

 

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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