Where Futures Lies
Daily Futures Trading Strategy 27 July 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
All three major U.S. stock indexes eked out record closing highs for a second straight session on Monday as investors were optimistic heading into a slew of earnings from heavyweight technology and internet names this week, while cautious ahead of a Federal Reserve policy meeting kept the market in check.
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Plan A : Remain buy as long as market trades firmly above 34697. Targets are 35030 and 35146.
Plan B : Consider sell if market surges but fails to breach above 35000. Targets are 34900 and 34740.
E-Mini S&P 500
The S&P 500 reached another record high on Monday ahead of a busy week of earnings reports from technology’s heaviest hitters.
The broad equity benchmark rose 0.2% to a fresh record close of 4,422.30, extending its winning streak to five days.
The second-quarter reporting season has been stronger than expected, providing a support for stocks as they climb back into record-high territory. So far, 88% of S&P 500 companies have reported a positive EPS surprise, according to FactSet. If 88% is the final percentage, it will mark the highest percentage since FactSet began tracking this metric in 2008.
Meanwhile, on the data front, sales of new U.S. single-family homes dropped unexpectedly in June, falling 6.6% to a seasonally adjusted annual rate of 676,000 units, the Commerce Department said on Monday. Economists polled by Dow Jones had expected new home sales to increase to 795,000 units in June.
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Plan A : Long if market supported firm above 4399. Targets are 4414, 4431 and 4446.
Plan B : Short if market failed to support above 4399. Targets are 4371, 4345 and 4318.
E-Mini Nasdaq
Stock futures were lower in early morning trading on Tuesday ahead of quarterly earnings reports from several mega-cap technology companies.
The tech-heavy Nasdaq Composite closed slightly higher at 14,840.71, hitting a new high.
Big tech giants Apple, Alphabet and Microsoft are all set to report on Tuesday. Google, Facebook, and Amazon will also report later in the week.
The Federal Reserve’s two-day policy meeting is also set to begin Tuesday. Investors are awaiting insights into the central bank’s monetary policy.
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Plan A : Long if market supported firm above 15082. Targets are 15118, 15145 and 15180.
Plan B : Short if market failed to support above 15082. Targets are 15035, 14999 and 14951.
HSI
China and Hong Kong shares fell sharply to their lowest this year on Monday, as investor worries over government regulations battered stocks in the education, property and tech sectors.
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To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for August subscription.
Plan A : Consider long if market trades resiliently above 26207 and rebounds. Targets are 26399 and 26709.
Plan B : Attempt short if market recovers but fails to breach above 26709. Targets are 26450 and 26399.
WTI Crude
Oil prices were steady on Monday as the spread of the COVID-19 Delta variant stoked fears over future fuel demand, though crude supply looks set to be tight through the rest of the year.
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Plan A : Remain buy as long as oil prices trades firmly above 71.7. Targets are 72.4 and 73.1.
Plan B : Consider sell only oil price fails to breach above 72.4. Targets are 71.7 and 70.8.
Gold
Gold edged lower on Monday as investors turned cautious in the run-up to a Federal Reserve policy meeting, overshadowing some support from a weaker dollar.
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Plan A : Attempt sell as long as gold price stays below 1811.5. Targets are 1799.4 and 1794.8.
Plan B : Consider buy only if gold price trades resiliently above 1794.8. Targets are 1803 and 1811.5.
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....
