Where Futures Lies
Daily Futures Trading Strategy 23 July 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Big tech helped Wall Street inch up to a higher close on Thursday, modestly building on a two-day rally as lackluster economic data and mixed corporate earnings prompted a pivot back to growth stocks.
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Plan A : Remain buy as long as market trades firmly above 34526. Targets are 34770 and 34909.
Plan B : Consider sell if market surges but fails to breach above 34770. Targets are 34642 and 34526.
E-Mini S&P 500
U.S. stocks rose Wednesday, extending the previous session’s rebound, as investors turned their focus to the banner start to corporate earnings season.
The S&P 500 climbed 35.63 points, or 0.8%, to 4358.69, a day after the broad market gauge posted its biggest one-day gain since late March. The two-day advance helped unwind Monday’s steep drop and leaves the index within 0.6% of its record close.
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Plan A : Long only if market retraced but supported firm above 4330. Targets are 4346, 4362 and 4379.
Plan B : Short if market failed to support above 4330. Targets are 4308, 4285 and 4261.
E-Mini Nasdaq
Stock futures edged higher in early morning trading on Friday after a rise in technology stocks boosted the Nasdaq Composite to its third-straight positive day on Thursday.
Tech strength continued after hours as shares of social media companies Twitter and Snap each jumped following better-than-expected second-quarter earnings reports.
The tech-heavy Nasdaq Composite led the markets with a 0.36% gain.
The strength in tech shares comes as the continued spread of the highly contagious delta Covid variant raises concerns about economic growth.
Major technology companies including Microsoft, Google-parent Alphabet, Apple, Facebook and Amazon are set to report second-quarter earnings next week.
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Plan A : Long if market supported firm above 14947. Targets are 14980, 15011 and 15045.
Plan B : Short if market failed to support above 14947. Targets are 14901, 14859 and 14825.
HSI
Hong Kong shares rose on Thursday, after four straight sessions of losses and tracking regional peers higher on a rebound in consumer and financials firms, even as investors harbour nagging doubts about the state of the global economic recovery.
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Plan A : Remain buy as long as market trades firmly above 27520. Targets are 27711 and 28021.
Plan B : Consider short if market fails to hold above 27685. Targets are 27520 and 27477.
WTI Crude
Oil prices inched up on Thursday, extending gains made in previous sessions on expectations of tighter supplies through 2021 as economies recover from the coronavirus crisis.
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Plan A : Attempt buy if oil price trades firmly above 70.8. Targets are 71.8 and 72.4.
Plan B : Consider sell only oil price fails to breach above 71.8. Targets are 71.2 and 70.8.
Gold
Gold inched higher on Thursday as stocks and U.S. bond yields pulled back to offset a firmer dollar and restore some of bullion's allure as a safe haven.
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Plan A : Attempt sell as long as gold price stays below 1812.4. Targets are 1801.9 and 1794.8.
Plan B : Consider buy only if gold price trades resiliently above 1794.8. Targets are 1805 and 1812.4.
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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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....
