Where Futures Lies
Daily Futures Trading Strategy 24 September 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks closed higher on Thursday as investors appeared relieved about the Federal Reserve's stance on tapering stimulus and raising interest rates.
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Plan A : Remain buy as long as market stays firm above 34526. Targets are 34744 and 34909.
Plan B : Consider short if market rebounds but fails to breach above 34909. Targets are 34744 and 34684.
E-Mini S&P 500
U.S. stocks jumped for a second day as fears around a crisis in China’s property market eased somewhat and as the Federal Reserve kept current monetary stimulus in place for just a little bit longer.
The S&P 500 rose 1.21% to 4,448.98.
Some expect Evergrande to default on bond payments as it’s still unclear if the developer was able to pay $83 million in interest on a U.S. dollar-denominated bond due Thursday. Bloomberg News reported that government regulators instructed Evergrande to avoid a near-term dollar bond default. Bondholders could also be eyeing a 30-day grace period. Regardless of the outcome, investors seem to hope that the impact on Wall Street would be contained.
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Plan A : Long if market supported firm above 4430. Targets are 4441, 4452 and 4466.
Plan B : Short if market failed to support above 4430. Targets are 4412, 4398 and 4381.
E-Mini Nasdaq
Stock futures were little changed in early morning trading on Friday after two straight days of gains pushed major averages into positive territory for the week.
The tech-heavy Nasdaq Composite rose 1%.
The market staged a two-day relief rally after the Federal Reserve signaled no imminent removal of its ultra-easy monetary policy. Investors also bet that the debt crisis of China’s real estate giant Evergrande wouldn’t trigger a ripple effect across global markets.
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Plan A : Long if market retraced but supported firm above 15180. Targets are 15210, 15245 and 15291.
Plan B : Short if market failed to support above 15180. Targets are 15138, 15095 and 15045.
HSI
Hong Kong shares closed higher on Thursday, with assurances from debt-laden developer China Evergrande Group lifting real estate stocks as markets resumed trade after a holiday.
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Plan A : Attempt sell if market surges but fails to breach above 24821. Targets are 24524 and 24310.
Plan B : Consider long only if market supports firmly above 24432. Targets are 24470 and 24821.
WTI Crude
Oil prices rose on Thursday, supported by growing fuel demand and a draw in U.S. crude inventories as production remained hampered in the Gulf of Mexico after two hurricanes.
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Plan A : Remain buy as long as oil price trades firmly above 73.1. Targets are 74.4 and 75.5.
Plan B : Consider short only if oil price fails to hold firm above 73.1. Targets are 72.1 and 71.7.
Gold
Gold fell 1% on Thursday, pressured by an uptick in treasury yields and an appetite for riskier assets, as investors continued to position themselves for a sooner-than-expected interest rate hike from the U.S. Federal Reserve.
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Plan A : Remain short as long as gold price stays below 1766.1. Targets are 1742 and 1730.6.
Plan B : Consider long only if gold price able to hold firm above 1742 and rebound. Targets are 1752.2 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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Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
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....
