Where Futures Lies
Daily Futures Trading Strategy 18 August 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street's main indexes slid on Tuesday, with the S&P 500 logging its biggest one-day percentage fall in about a month, weighed down by a drop in U.S. retail sales that raised concerns about the economic recovery, as well as by disappointing results from Home Depot.
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Plan A : Remain sell as long as market stays below 35235. Targets are 35146 and 34909.
Plan B : Consider long if market trades resiliently above 35146 and rebound. Targets are 35235 and 35338.
E-Mini S&P 500
U.S. stock indexes fell Tuesday as July retail sales declined and concerns about slowing global economic growth intensified.
The S&P 500 shed 0.7% to 4,448.08.
Retail sales declined 1.1% in July, a steeper drop than the 0.3% dip expected by economists surveyed by Dow Jones and a reversal from June’s 0.7% increase.
Health care shares saw strength with the S&P 500 Health Care Sector hitting a record at one point. UnitedHealth, Merck and Johnson & Johnson all moved higher.
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Plan A : Long if market supported firm above 4449. Targets are 4458, 4470 and 4481.
Plan B : Short if market failed to support above 4449. Targets are 4434, 4415 and 4401.
E-Mini Nasdaq
Dow futures were muted in early morning trading on Wednesday after the 30-stock average snapped a 5-day winning streak in the regular session.
The Nasdaq Composite was the relative underperformer, dropping 0.9% as Facebook, Amazon, Apple and Google-parent Alphabet all closed lower.
The Federal Open Market Committee publishes its meeting minutes from its July meeting on Wednesday at 2 p.m. ET. Markets participants will be looking for clues about the central bank’s stance on inflation and when it could suspend it bond buying program.
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Plan A : Long if market supported firm above 15026. Targets are 15055, 15088 and 15122.
Plan B : Short if market failed to support above 15026. Targets are 14988, 14941 and 14892.
HSI
Hong Kong stocks closed lower on Tuesday, marking their biggest fall in three weeks, as sentiment took a hit due to a gloomy economic outlook for China, Beijing's tighter control of the tech sector, and rising geopolitical tensions.
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Plan A : Remain sell as long as market stays below 25780. Targets are 25550 and 25158.
Plan B : Consider long if market able to trade firmly above 25158 and rebound. Targets are 25380 and 25550.
WTI Crude
Oil prices fell on Tuesday, with both contracts heading for a fourth straight session of losses, weighed down by a weak demand picture in Asia and OPEC and its allies saying the market does not need more crude.
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Plan A : Remain sell as long as oil price stays below 67.8. Targets are 66.3 and 65.7.
Plan B : Consider buy only if oil price able to support above 66.3 and rebounds. Targets are 67.3 and 67.8.
Gold
Gold prices retreated slightly from a more than one-week peak on Tuesday as some investors opted for the dollar instead of surging COVID-19 Delta variant cases posed a threat to a global economic recovery.
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Plan A : Remain buy as long as gold price trades firmly above 1768.8. Targets are 1788.2 and 1794.8.
Plan B : Consider short if gold price fails to breach above 1794.8. Targets are 1785.6 and 1766.1.
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....
