Where Futures Lies
Daily Futures Trading Strategy 9 September 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street ended lower on Wednesday, spooked by worries that the Delta coronavirus variant could blunt the economy's recovery and on uncertainty about when the Federal Reserve may pull back its accommodative policies.
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Plan A : Remain sell as long as market stays below 35146. Targets are 34909 and 34790.
Plan B : Consider long if market holds resiliently above 34909 and rebound. Targets are 35020 and 35146.
E-Mini S&P 500
U.S. stock futures were lower in early morning trading Thursday as investors remained cautious on the remaining months of trading.
The report — which the Federal Reserve watches closely for signs of slack in employment — showed open positions soared to 10.9 million in July, well above the 9.9 million FactSet estimate and the 10.2 million from June.
Investors will be watching for the latest weekly jobless claims data, set to release Thursday morning, for a greater look at the employment picture. Economists polled by Dow Jones expected 335,000 Americans filed for unemployment last week, compared to the previous week’s 340,000.
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Plan A : Long if market supported firm above 4493. Targets are 4503, 4515 and 4529.
Plan B : Short if market failed to support above 4493. Targets are 4477, 4462 and 4440.
E-Mini Nasdaq
Stocks fell Wednesday on investors’ concerns that Covid-19 cases remain elevated and uncertainty about when central banks may dial back easy-money policies.
The Nasdaq Composite was the relative underperformer, dipping 0.6%, as Facebook, Apple, Netflix and Google-parent Alphabet closed lower. The Nasdaq fell for the first session in five, after notching a record close on Tuesday.
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Plan A : Long if market supported firm above 15559. Targets are 15590, 15621 and 15655.
Plan B : Short if market failed to support above 15559. Targets are 15515, 15479 and 15425.
HSI
Hong Kong shares edged lower on Wednesday, dragged down by financials, while tech giants rose after state media said regulations related to the country's industries were to promote their development.
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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 rose more than 1% on Wednesday as U.S. Gulf of Mexico producers made slow progress in restoring output after Hurricane Ida.
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Plan A : Attempt buy if oil price trades firmly above 68.8. Targets are 69.7 and 70.9.
Plan B : Consider short if oil price consistently stay below 69.3. Targets are 68.8 and 68.1.
Gold
Gold slipped to a two-week low on Wednesday as strength in the dollar and higher U.S. Treasury yields outweighed the boost to bullion from deepening concerns about global economic growth.
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Plan A : Remain sell as long as gold price stays below 1794.8. Targets are 1781 and 1766.
Plan B : Consider long only if gold price supports above 1781 and rebound. Targets are 1791 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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Ride The Bull Short The Bear
CS Tan
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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....
