Where Futures Lies
Daily Futures Trading Strategy 4 May 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The S&P 500 and the Dow indexes rose on Monday as a largely upbeat earnings season strengthened expectations of sustained profit growth.
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Plan A : Attempt sell only if market trades below 33939. Targets are 33678 and 33559.
Plan B : Consider long if market holds firmly above 33873. Targets are 34010 and 34116.
E-Mini S&P 500
U.S. stocks climbed on Monday, the first trading day of May, as shares tied to the economic reopening rallied on relaxed pandemic restrictions.
The S&P 500 gained 0.3% to 4,192.66. The S&P 500 is now up more than 11% for the year.
On the data front, IHS Markit data showed U.S. manufacturing activity grew at a record-high speed last month with April’s Manufacturing Business Activity PMI Index rising to 60.5, matching expectations from economists polled by Dow Jones.
However, a separate gauge from Institute for Supply Management signaled a slowdown in manufacturing expansion. The ISM Manufacturing PMI for April came in at 60.7, compared to the expected 65.0 and March’s level of 64.7.
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Plan A : Short if market failed to support above 4181. Targets are 4156, 4130 and 4103.
Plan B : Long if market supported firm above 4181. Targets are 4196, 4215 and 4231.
E-Mini Nasdaq
Stock futures slipped in early morning trading on Tuesday after a strong start to May as investors piled into shares that would benefit the most from an economic reopening.
The Nasdaq Composite fell 0.5% to 13,895.12, however, after Big Tech stocks pulled back following a strong month.
States continued to relax pandemic restrictions amid the vaccine rollout. New York Gov. Andrew Cuomo announced that most capacity restrictions will be lifted across New York, New Jersey and Connecticut, while 24-hour subway service will resume in New York City later this month.
April’s jobs report will be released on Friday, with a forecast gain of 978,000.
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Plan A : Short if market failed to support above 13700. Targets are 13659, 13610 and 13568.
Plan B : Long if market supported firm above 13700. Targets are 13732, 13761 and 13799.
HSI
Hong Kong stocks fell on Monday, with financials leading the slide, as investors locked in gains after a recent rally, while many kept to the sidelines as China markets remain closed.
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Plan A : Remain short as long as market stays trading below 28367. Targets are 28466 and 28366.
Plan B : Attempt long only if market trades firmly above 28466 and rebound. Targets are 28029 and 27777.
WTI Crude
Oil rose more than 1% on Monday as Chinese economic figures and U.S. vaccination rate pointed to a strong rebound in demand in the world's two largest economies.
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Plan A : Remain buy as long as oil price trades firmly above 63.9. Targets are 64.7 and 65.5.
Plan B : Consider selling only if oil price surges but fails to breach above 65.5. Targets are 64.5 and 63.9.
Gold
Gold prices jumped more than 1% on Monday, with the rally spilling over into other precious metals as well, driven by a retreat in the dollar and U.S. Treasury yields.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for May subscription.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for May subscription.
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 surges but fails to breach above 1795.1. Targets are 1781.9 and 1776.
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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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....
