Where Futures Lies
Daily Futures Trading Strategy 3 August 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The S&P 500 and Dow erased early gains on Monday as worries about the Delta variant of the coronavirus and a slowing U.S. economy overshadowed optimism around more fiscal stimulus and a strong second-quarter earnings season.
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Plan A : Attempt sell if market stays trading below 34909. Targets are 34760 and 34595.
Plan B : Consider buy if market supports firmly above 34595 and rebound. Targets are 34760 and 34909.
E-Mini S&P 500
The S&P 500 Index closed slightly lower on Monday after erasing early gains as worries about the Delta variant of the coronavirus and a slowing U.S. economy overshadowed optimism around more fiscal stimulus and a strong second-quarter earnings season.
E-Mini S&P 500
The S&P 500 Index closed slightly lower on Monday after erasing early gains as worries about the Delta variant of the coronavirus and a slowing U.S. economy overshadowed optimism around more fiscal stimulus and a strong second-quarter earnings season.
The S&P 500 lost 8.1 points, or 0.18%, to 4,387.16.
Federal Reserve Governor Christopher Waller said on CNBC late in the session that the Fed could start to reduce its support for the economy by October if the next two monthly jobs reports each show employment rising by 800,000 to 1 million, as he expects.
Data earlier in the day showed that although U.S. manufacturing grew in July, its pace slowed for a second straight month as spending rotated back to services from goods, and shortages of raw materials persisted.
With manufacturing activity data coming in weaker than expected, investor focus now turns to services sector data on Wednesday and the Labor Department's monthly jobs report on Friday.
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Plan A : Long if market supported firm above 4391. Targets are 4406, 4422 and 4439.
Plan B : Short if market failed to support above 4391. Targets are 4365, 4339 and 4312.
E-Mini Nasdaq
Stock futures rose in early morning trading on Tuesday after worries about slowing growth sparked a Monday sell-off on Wall Street.
The concern about slowing growth triggered a drop in Treasury yields on Monday. The yield on the benchmark 10-year Treasury note fell as much as 8 basis points to 1.15%. Monday’s slide in bond yields followed data showing the U.S. manufacturing sector expanded at a slower pace than a month ago.
Investors are closely monitoring progress in Washington as lawmakers move toward a bipartisan infrastructure bill that would devote $550 billion to U.S. infrastructure.
Meanwhile, the second-quarter earnings season continues with Under Armour, Lyft, Eli Lilly and Amgen among the companies to report on Tuesday.
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Plan A : Long if market supported firm above 15008. Targets are 15040, 15069 and 15101.
Plan B : Short if market failed to support above 15008. Targets are 14965, 14920 and 14878.
HSI
Chinese A-shares posted their biggest percentage gain since late May while Hong Kong shares also rose on Monday, as investors snapped up stocks battered by a sell-off last month despite rising worries around a surge in new coronavirus cases.
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Plan A : Attempt buy if market trades firmly above 25970. Targets are 26255 and 26325.
Plan B : Consider short if market fails to breach above 26325. Targets are 25970 and 25742.
WTI Crude
Oil prices fell on Monday on worries over China's economy after a survey showed factory activity growing at its slowest pace in 17 months in the world's second-largest oil consumer, concern compounded by a rise in oil output from OPEC producers.
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Plan A : Attempt sell if oil prices trades below 72.4. Targets are 71.1 and 69.7.
Plan B : Consider buy if oil prices holds resiliently above 71.1 and rebound. Targets are 72.4 and 74.2.
Gold
Gold prices ticked higher on Monday, propped up by a weaker dollar and U.S. bond yields, though an uptick in risk appetite took some shine off the safe-haven metal.
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Plan A : Attempt buy if gold price stays firm above 1811. Targets are 1823.4 and 1827.4.
Plan B : Consider short if gold price fails to breach above 1823.4 and retrace. Targets are 1811 and 1808.
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
4.9 / 5.0
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....
