Where Futures Lies
Daily Futures Trading Strategy 3 June 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street's main indexes posted slim gains on Wednesday ahead of a key U.S. economic data due later in the week as investors weighed inflation concerns and a fresh surge in so-called "meme stocks."
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Plan A : Remain buy as long as market trades firmly above 34450. Targets are 34620 and 34730.
Plan B : Consider selling only if market surges but fails to breach above 34730. Targets are 34620 and 34550.
E-Mini S&P 500
Stocks rose slightly on Wednesday with the S&P 500 hovering near an all-time high.
The benchmark gained 0.14% to 4,208.12 on Wednesday, sitting about 0.7% from its record hit in May.
Energy stocks again outperformed the broader market on Wednesday as crude prices continued their recent rebound. Investors have snapped up shares of some of the nation’s largest oil and gas companies in recent sessions as optimism about the economic rebound in the U.S. fosters demand for crude, airfare and other travel-related assets.
Inflation fears, and the ways in which the Federal Reserve might respond, have weighed on sentiment recently, although the major averages are still hovering around all-time highs.
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Plan A : Long if market supported firm above 4212. Targets are 4229, 4243 and 4263.
Plan B : Short if market failed to support above 4212. Targets are 4187, 4160 and 4129.
E-Mini Nasdaq
U.S. stock futures were flat early Thursday morning, following a quiet day of trading on Wednesday.
The technology-heavy Nasdaq Composite rose 0.14% to 13,756.33.
The market, focused on the link between inflation pressures and the reopening of U.S. businesses, may be on hold before the release of the jobs report Friday, which is likely to show an additional 671,000 nonfarm payrolls in May, compared to the 266,000 jobs that were added the month before, according to economists polled by Dow Jones.
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Plan A : Long if market supported firm above 13681. Targets are 13711, 13748 and 13782.
Plan B : Short if market failed to support above 13681. Targets are 13638, 13600 and 13553.
Plan B : Short if market failed to support above 13681. Targets are 13638, 13600 and 13553.
HSI
Hong Kong shares retreated from a three-month high to close lower on Wednesday as investors booked profits following a technology and healthcare rally, tracking a market correction in the mainland.
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Plan A : Remain buy as long as market trades firmly above 29083. Targets are 29400 and 29575.
Plan B : Consider short only if market consistently trades below 29249. Targets are 29090 and 28912.
WTI Crude
Oil rose on Wednesday, supported by an OPEC+ decision to stick to its plan to restore supply to the market gradually and by the slow pace of nuclear talks between Iran and the United States.
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Plan A : Remain buy as long as oil price trades firmly above 68.0. Targets are 68.9 and 69.5.
Plan B : Consider short if oil price surges but fails to breach above 69.5. Targets are 68.9 and 68.0.
Gold
Gold prices rose on Wednesday, hovering below a near five-month peak hit the previous session, as U.S. Treasury yields pulled back, while investors awaited key economic data this week that will shed light on the outlook for inflation.
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Plan A : Remain buy as long as gold price trades firmly above 1900.1. Targets are 1910.5 and 1919.2.
Plan B : Consider short only if gold price surges but fails to breach and hold above 1919.2. Targets are 1907 and 1900.1.
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....
