Where Futures Lies
Daily Futures Trading Strategy 8 September 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Dow and S&P 500 closed lower on Tuesday while the Nasdaq edged up to a record high, as investors balanced worries about the slowing pace of economic recovery with expectations that the Federal Reserve will maintain its accommodative monetary policy.
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Plan A : Remain sell as long as market stays below 35177. Targets are 35020 and 34909.
Plan B : Consider long if market holds resiliently above 35020 and rebound. Targets are 35146 and 35268.
E-Mini S&P 500
U.S. shares were mixed and global equities retreated from record highs on Tuesday as investors balanced mounting worries over the slowing pace of economic recovery and hopes the Federal Reserve will delay tapering its bond purchases.
The S&P 500 lost 0.34% to 4,520.03.
Data on Friday showed the U.S. economy created 235,000 jobs in August, the fewest in seven months as hiring in the leisure and hospitality sectors stalled, reducing expectations that the Fed will opt for an early tapering of its monthly bond purchases.
The market took the surprisingly soft U.S. payrolls report on Friday "in stride, with the assumption that the COVID-19 Delta variant had an impact on economic activity in August," Arthur Hogan, chief market strategist at brokerage National Holdings in New York, said in a market note.
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Plan A : Long if market supported firm above 4507. Targets are 4518, 4527 and 4541.
Plan B : Short if market failed to support above 4507. Targets are 4492, 4475 and 4460.
E-Mini Nasdaq
The Dow Jones Industrial Average fell on Tuesday amid lingering concerns about the delta variant’s impact on the economic reopening.
The Nasdaq Composite rose less than 0.07% to 15,374.33, notching a record close.
Goldman Sachs downgraded its economic outlook over the weekend, citing the delta variant and fading fiscal stimulus. Goldman now sees 5.7% annual growth in 2021, below the 6.2% consensus. The firm cut its fourth-quarter GDP outlook to 5.5%, down from 6.5%.
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Plan A : Long if market supported firm above 15605. Targets are 15638, 15672 and 15700.
Plan B : Short if market failed to support above 15605. Targets are 15562, 15521 and 15479.
HSI
Hong Kong shares rose on Tuesday after data showed China's exports unexpectedly grew at a faster pace in August, helping to take some of the pressure off the world's largest economy in the midst of an uneven recovery.
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Plan A : Remain buy as long as market trades firmly above 26085. Targets are 26326 and 26444.
Plan B : Consider short if market surges but fails to breach above 26326. Targets are 26180 and 26085.
WTI Crude
Oil prices fell on Tuesday, extending losses from the previous session, as Saudi Arabia's sharp cuts in crude contract prices for Asia sparked fears over slower demand, but strong Chinese economic data and U.S. output outrages capped losses.
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Plan A : Attempt sell if oil price stays trading below 68.8. Targets are 68.2 and 67.4.
Plan B : Consider long only if oil price holds firm above 68.2 and rebound. Targets are 68.8 and 69.4.
Gold
Gold retreated over 1% on Tuesday and is on course for its biggest intraday drop in a month, as a buyout dollar and higher yields took the shine off the metal.
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Plan A : Attempt buy if gold price stays firm above 1794.8. Targets are 1801.8 and 1809.9.
Plan B : Consider short if gold price rebounds but fails to breach above 1809.9. Targets are 1801.8 and 1794.8.
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....
