Where Futures Lies
Daily Futures Trading Strategy 25 June 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The Nasdaq and the S&P 500 indexes closed at record highs on Thursday, with the Dow also jumping almost 1% after U.S. President Joe Biden embraced a bipartisan Senate Infrastructure deal.
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Plan A : Remain buy as long as market trades firmly above 33928. Targets are 34236 and 34403.
Plan B : Consider short only if market surges but fails to breach above 34236. Targets are 34140 and 33928.
E-Mini S&P 500
U.S. stocks jumped to session highs, with the S&P 500 reaching a record, Thursday after President Joe Biden declared that the White House struck an infrastructure deal with a bipartisan group of senators.
The S&P 500 rose nearly 0.6% to hit a record closing high of 4,266.49, retaking its previous record from June 14 and fully recouping the losses triggered by the Federal Reserve’s surprise policy pivot.
The infrastructure deal will include $579 billion in new spending, the White House said. Republicans have fought the president’s proposal to hike the corporate tax rate to 28% from 21%.
Data out Thursday showed jobless claims totaled 411,000 for the week ended June 19, higher than an estimate of 380,000 from economists polled by Dow Jones.
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Plan A : Long if market supported firm above 4253. Targets are 4271, 4287 and 4301.
Plan B : Short if market failed to support above 4253. Targets are 4228, 4200 and 4171.
E-Mini Nasdaq
U.S. stock futures rose in early morning trading on Friday after the S&P 500 closed at a record.
The technology-heavy Nasdaq Composite rose to a fresh record of 14,369.71 as investors continued to pour into growth stocks. Cathie Wood’s flagship fund, ARK Innovation, rose 1.5% and went positive for the year.
Investors will be watching for a key inflation indicator on Friday morning when the Commerce Department releases the core personal consumption expenditures index. Economists polled by Dow Jones are expecting prices rose 3.4% in May from a year earlier. Economists also estimate prices increased by 0.6% from April to May.
The index captures price movements across a variety of goods and services. It is also generally considered a wider-ranging measure for inflation as it captures changes in consumer behavior and has a broader scope than the Labor Department’s consumer price index.
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Plan A : Long if market supported firm above 14325. Targets are 14356, 14391 and 14428.
Plan B : Short if market failed to support above 14325. Targets are 14280, 14238 and 14198.
HSI
Hong Kong stocks eked out gains on Thursday, helped by energy and IT firms, with investors reassessing U.S. Federal Reserve statements on inflation and looking to upcoming data for direction.
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Plan A : Remain buy as long as market trades firmly above 28736. Targets are 28912 and 29249.
Plan B : Consider short if market fails to trade firmly above 28912. Targets are 28736 and 28639.
WTI Crude
Oil prices reversed losses on Thursday to move higher, holding close to their highest to almost three years, supported by drawdowns in U.S. inventories and accelerating German economic activity.
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Plan A : Remain buy as long as oil price trades resiliently above 72.8. Targets are 73.3 and 74.3.
Plan B : Consider short only if oil price fails to stay firm above 72.8. Targets are 71.9 and 71.1.
Gold
Gold edged lower in choppy trading on Thursday, as mixed cues from U.S. Federal Reserve officials on the approach the central bank could take to withdraw stimulus kept investors wary.
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Plan A : Remain short as long as gold price stays below 1794.8. Targets are 1766.1 and 1754.7.
Plan B : Consider long only if gold price supports resiliently above 1766.1 and rebound. Targets are 1794.8 and 1823.4.
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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