Where Futures Lies
Daily Futures Trading Strategy 18 May 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Technology stocks pulled Wall Street's main indexes lower on Monday, as signs of inflationary pressures building up in the economy kept investors worried about monetary policy tightening.
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Plan A : Remain buy as long as market supported firmly above 33939 and rebound. Targets are 34400 and 34554.
Plan B : Consider selling if market fails to hold above 34247. Targets are 33940 and 33830.
E-Mini S&P 500
Stock indexes were lower globally on Monday with technology shares on Wall Street falling, while U.S. Treasury yields traded little changed even after a report showing the highest prices ever paid in a May manufacturing survey for New York State.
The S&P 500 technology sector was down 0.9% and was the biggest drag on the benchmark index. Concerns over inflationary pressure helped to lift gold prices to their highest in more than three months, however.
The Empire State Manufacturing Survey, produced by the New York Fed, showed the prices paid index rose to a record 83.5, the highest since the data series began in 2001, said Tom Simons, money market economist at Jefferies & Co.
In the Treasury market, the yield on benchmark 10-year U.S. Treasury notes was near unchanged at 1.642%, below a spike to 1.77% in late March.
E-Mini S&P 500
Stock indexes were lower globally on Monday with technology shares on Wall Street falling, while U.S. Treasury yields traded little changed even after a report showing the highest prices ever paid in a May manufacturing survey for New York State.
The S&P 500 technology sector was down 0.9% and was the biggest drag on the benchmark index. Concerns over inflationary pressure helped to lift gold prices to their highest in more than three months, however.
The Empire State Manufacturing Survey, produced by the New York Fed, showed the prices paid index rose to a record 83.5, the highest since the data series began in 2001, said Tom Simons, money market economist at Jefferies & Co.
In the Treasury market, the yield on benchmark 10-year U.S. Treasury notes was near unchanged at 1.642%, below a spike to 1.77% in late March.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for May subscription.
Plan A : Long if market supported firm above 4168. Targets are 4183, 4200 and 4219.
Plan B : Short if market failed to support above 4168. Targets are 4142, 4115 and 4088.
E-Mini Nasdaq
Futures contracts tied to the major U.S. stock indexes rose in early morning trading on Tuesday after Wall Street kicked off the week with modest losses.
The Nasdaq Composite fell 0.4% to 13,379.05.
Big Tech stocks fell to start the week, with Apple and Netflix each down 0.9%. Microsoft shed 1.2%, while Tesla dropped more than 2% as famed investor Michael Burry revealed a big short position on the electric carmaker.
Growth-heavy stocks have remained under pressure in recent sessions as investors fret over whether a pop in inflation will entrench or blow over as the Federal Reserve expects. Inflation above the Fed’s 2% target for a sustained period could prompt the central bank to tighten monetary policy and dampen stocks that outperform the market when interest rates are low.
The tech-heavy Nasdaq Composite, particularly sensitive to inflation fears, dropped 2.3% last week. The blue-chip Dow fell 1.1% in that period. All three benchmarks posted their worst week since February 26.
The Fed’s minutes from its last meeting, which will be released Wednesday, could offer some clues on policymakers’ thinking on inflation.
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Plan A : Long if market supported firm above 13366. Targets are 13399, 13430 and 13462.
Plan B : Short if market failed to support above 13366. Targets are 13320, 13282 and 13240.
HSI
Hong Kong stocks closed firmer on Monday, as tech and materials firms tracked Wall Street strength, while investors appeared to show scant reaction to China's lackluster.
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Plan A : Attempt long if market able to trade firmly above 28029. Targets are 28160 and 28366.
Plan B : Consider short if market fails to hold above 28029. Targets are 27910 and 27790.
WTI Crude
Oil prices rose more than 1% on Monday, lifted by European economic reopening and rising U.S. demand after prices fell earlier due to surging coronavirus cases in Asia and underwhelming Chinese manufacturing data.
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Plan A : Remain buy as long as oil price trades firmly above 65.5. Targets are 66.5 and 68.0.
Plan B : Consider selling only if oil price falls back below 65.5. Targets are 64.5 and 63.9.
Gold
Gold prices climbed on Monday to their highest in more than three months, with the precious metal appealing to cautious investors as U.S. Treasury yields remained subdued even as stock prices fell on inflation worries.
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Plan A : Remain buy as long as gold price trades firmly above 1857.4. Targets are 1869.2 and 1878.8.
Plan B : Consider short only if gold price surges but fails to breach above 1878.8. Targets are 1869.2 and 1857.4.
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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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....
