Where Futures Lies
Daily Futures Trading Strategy 4 August 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The S&P 500 index closed at record high while Dow gained 278-points on Tuesday on gains in Apple and healthcare stocks, despite concerns over a surge in the Delta variant of the coronavirus taking some shine off an upbeat corporate earnings season.
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Plan A : Attempt buy if market trades firmly above 34909. Targets are 35050 and 35146.
Plan B : Consider sell if market fails to support above 34909. Targets are 34638 and 34526.
E-Mini S&P 500
U.S. stocks moved higher on Tuesday and the S&P 500 set a new record high as broad market strength outweighed the travel names held back by Covid fears.
The S&P 500 gained 0.8% to notch a new all-time closing high of 4,423.15.
The 10-year Treasury yield stabilized on Tuesday after falling back to near five-month lows on Monday. As yields rebounded from their decline midday back to the unchanged mark, stocks rose.
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Plan A : Long if market supported firm above 4399. Targets are 4412, 4428 and 4444.
Plan B : Short if market failed to support above 4399. Targets are 4378, 4351 and 4332.
E-Mini Nasdaq
U.S. stock futures fell slightly on Tuesday night after the S&P 500 rose to another fresh record during the regular session.
The Nasdaq Composite rose 0.6% to 14,761.29.
Those gains followed an early morning slump during which equities across the board were mostly in the red after the 10-year Treasury yield fell to 1.15% Monday. The decline in the bond yield was driven by concerns about the spread of the delta coronavirus variant and comments by Federal Reserve Governor Christopher Waller, who told CNBC that the central bank could start tapering its bond purchases as early as October.
Investors will also be keeping an eye on employment data being released by ADP Wednesday.
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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
Hong Kong stocks fell on Tuesday, with tech shares leading declines, as index heavyweight Tencent Holdings Ltd slumped after a media report stoked concerns over tighter regulation on online gaming.
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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 fell on Tuesday in volatile trade as concerns over rising cases of the Delta coronavirus variant weighed on prices while expectations of a lower U.S. inventories lent some support.
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Plan A : Attempt sell as long as oil price stays below 71.1. Targets are 70.3 and 69.7.
Plan B : Consider buy if oil prices holds resiliently above 69.7 and rebound. Targets are 70.4 and 71.1.
Gold
Gold prices edged lower on Tuesday, as traders stayed on the sidelines in advance of U.S. jobs data due later this week that could influence the timeline of when the Federal Reserve cuts back on its asset purchase program.
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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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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....
