Where Futures Lies
Daily Futures Trading Strategy 27 May 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks closed out Wednesday's session with modest gains as recent comments from Federal Reserve officials helped tamp down concerns about runaway inflation and kept bond yields in check.
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Plan A : Remain buy as long as market trades firmly above 34101. Targets are 34420 and 34554.
Plan B : Consider selling only if market surges but fails to breach above 34554. Targets are 34366 and 34101.
E-Mini S&P 500
U.S. stocks rose slightly on Wednesday as shares tied to the economic reopening supported the broader market once again.
The S&P 500 climbed 0.2% to 4,195.99, sitting just about 1% from a record high.
The optimism on the economy comes as U.S. average daily Covid cases fall below 25,000 and as nearly half the U.S. polulation has received at least one vaccination dose.
Investors kept an eye on Washington and any developments on an infrastructure compromise that could boost the economy further. Senate Republicans plan to send President Joe Biden a counteroffer this week that costs nearly $1 trillion.
Plan A : Long if market supported firm above 4188. Targets are 4203, 4220 and 4238.
Plan B : Short if market failed to support above 4188. Targets are 4163, 4135 and 4109.
E-Mini Nasdaq
Stock futures were slightly lower in overnight trading on Wednesday as investors await new labor-market data to gauge the pace of the economic recovery.
The tech-heavy Nasdaq Composite added 0.6% to 13,738.00.
Trading is expected to be muted ahead of the Memorial Day weekend.
Investors await the latest data on U.S. weekly jobless claims, which comes out Thursday morning. Economists surveyed by Dow Jones are expecting a total of 425,000 Americans to have filed unemployment benefits in the week ended May 22. In the week prior, jobless claims reached a fresh pandemic-era low of 444,000.
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Plan A : Long if market supported firm above 13681. Targets are 13712, 13745 and 13787.
Plan B : Short if market failed to support above 13681. Targets are 13640, 13599 and 13557.
HSI
Hong Kong shares closed at a near four-week high on Wednesday, led by tech and property stocks, as a strong yuan and U.S. Federal Reserve's dovish monetary policy stance soothed inflation concerns.
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Plan A : Remain buy as long as market trades firmly above 29006. Targets are 29249 and 29429.
Plan B : Consider short only if market surges but fails to breach above 29249. Targets are 29118 and 29006.
WTI Crude
Oil prices settled higher on Wednesday as a drop in U.S. crude stockpiles reinforced expectations of improving demand ahead of the peak summer driving season, offsetting worries that a possible return of Iranian supply would cause a glut.
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Plan A : Attempt buy if oil price trades firmly above 65.5. Targets are 66.2 and 67.0
Plan B : Consider short if oil price surges but fails to breach above 66.2. Targets are 65.5 and 64.7.
Gold
Gold fell below the key $1,900 per ounce level on Wednesday, as a rebounding dollar and U.S. Treasury yields dimmed its appeal, although continued expectations of a dovish stance from U.S. Federal Reserve kept its losses limited.
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Plan A : Remain buy as long as gold price trades firmly above 1878.8. Targets are 1898.3 and 1900.1.
Plan B : Consider short only if gold price surges but fails to breach above 1898.3. Targets are 1878.8 and 1869.2.
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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Ride The Bull Short The Bear
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....
