Where Futures Lies
Daily Futures Trading Strategy 10 September 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street ended lower on Thursday after weekly jobless claims fell to a near 18-month low, allaying fears of a slowing economic recovery, but also stoking worries the Fed could move sooner than expected to scale back its accommodative policies.
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Plan A : Remain sell as long as market stays below 35020. 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
The S&P 500 fell 0.46% to 4,493.28, dropping for the fourth straight day.
Investors remained cautious as they try to discern what’s next to happen with the delta variant, the economic reopening and the Federal Reserve.
The Fed meets on Sep. 21-22 and investors are worried the central bank will indicate a move to slow down its monthly $120 billion in bond purchases, which have kept rates low and boosted the recovery from the pandemic.
Helping sentiment was a better-than-expected weekly reading on jobless claims. Initial jobless claims came in 310,000, which was below expectations of 335,000 claims. This marked another fresh low for the pandemic era.
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Plan A : Long if market supported firm above 4507. Targets are 4517, 4528 and 4539.
Plan B : Short if market failed to support above 4507. Targets are 4492, 4475 and 4459.
E-Mini Nasdaq
U.S. stock index futures were higher in early morning trading on Friday, after stocks registered a fourth-straight day of losses on Thursday.
The Nasdaq Composite dipped 0.25% for its second straight day of losses. It’s the first time since the middle of August that the tech-heavy index has registered back-to-back losses.
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Plan A : Long if market supported firm above 15589. Targets are 15619, 15651 and 15688.
Plan B : Short if market failed to support above 15589. Targets are 15543, 15508 and 15467.
Hong Kong stocks fell in the most in six weeks on Thursday, with tech shares tumbling on China's latest crackdown on the gaming industry and China Evergrande Group plunging amid signs of growing financial woes.
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Plan A : Remain sell as long as market stays below 25850. Targets are 25575 and 25394.
Plan B : Consider long only if market holds firmly above 25575 and rebound. Targets are 25760 and 25850.
WTI Crude
Oil prices eased on Thursday on China's plan to release state oil reserves to reduce pressure on domestic refiners and a smaller than expected U.S. weekly crude draw.
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Plan A : Remain sell as long as oil price stays below 68.8. Targets are 67.4 and 66.4.
Plan B : Consider long only if oil price holds firmly above 67.4 and rebound. Targets are 68.1 and 68.8.
Gold
Gold firmed on Thursday, lifted by a slight retreat in the dollar, but renewed bets that the U.S. Federal Reserve may start early tapering of economic support capped gains, with the European Central Bank also slowing its bond buying.
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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 1794.8 and rebound. Targets are 1807 and 1823.4.
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....
