Where Futures Lies
Daily Futures Trading Strategy 28 September 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street ended mixed on Monday as investors began the last week of September and the quarter with a pivot to value as tech shares, hurt by rising Treasury yields, weighed on the Nasdaq Composite index.
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Plan A : Remain buy as long as market stays firm above 34526. Targets are 34909 and 34939.
Plan B : Consider short if market rebounds but fails to breach above 34909. Targets are 34802 and 34684.
E-Mini S&P 500
The S&P 500 and Nasdaq indexes ended lower on Monday with investors pivoting to value as tech shares, hurt by rising Treasury yields, weighed on equities in the quarter’s final week.
The S&P 500 lost 12.37 points, or 0.28%, at 4,443.11.
Of the 11 major sectors in the S&P 500, six closed lower. Real estate and healthcare suffered the largest percentage losses.
While the S&P 500 value index has underperformed growth so far this year, that gap has narrowed in September as investors increasingly favor lower valuation stocks that stand to benefit most from economic revival.
The S&P 500 is on track to snap its seven-month winning streak, with the prospect of higher corporate tax rates and hints from the U.S. Federal Reserve that it could start to tighten its accommodative monetary policies in the months ahead.
The S&P 500 lost 12.37 points, or 0.28%, at 4,443.11.
Of the 11 major sectors in the S&P 500, six closed lower. Real estate and healthcare suffered the largest percentage losses.
While the S&P 500 value index has underperformed growth so far this year, that gap has narrowed in September as investors increasingly favor lower valuation stocks that stand to benefit most from economic revival.
The S&P 500 is on track to snap its seven-month winning streak, with the prospect of higher corporate tax rates and hints from the U.S. Federal Reserve that it could start to tighten its accommodative monetary policies in the months ahead.
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Plan A : Short if market failed to support above 4423. Targets are 4407, 4392 and 4377.
Plan B : Long if market failed to support above 4423. Targets are 4434, 4445 and 4458.
E-Mini Nasdaq
“A Covid-led resurgence in economic activity may well worsen supply chain woes and eventually reignite inflation concerns. But, for now, it has forced investors to reevaluate whether they have too much growth in tech and not enough in economically sensitive investments,” Paulsen added.
Traders were also poring through testimony from Federal Reserve Chair Jerome Powell. In prepared remarks set to be delivered Tuesday, the central bank chief said that inflation could persist longer-than-expected.
Lawmakers must act on a funding plan before the government faces a shutdown Friday. While there could be a temporary solution extending funding, the bigger issue of raising the debt ceiling may not be resolved for several more weeks. Senate Republicans on Monday blocked a bill that would fund the government and suspend the U.S. debt ceiling.
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Plan A : Short if market failed to support above 15017. Targets are 14976, 14930 and 14890.
Plan B : Long if market supported firm above 15017. Targets are 15048, 15080 and 15111.
HSI
Hong Kong shares edged up on Monday, led by energy and consumer staples sectors, while a power crunch in mainland China sent heavy industry stocks lower.
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Plan A : Attempt sell if market stays trading below 24310. Targets are 24168 and 24030.
Plan B : Consider long only if market supports firmly above 24030. Targets are 24168 and 24310.
WTI Crude
Oil prices rose for a fifth straight day on Monday with Brent heading for $80 amid supply concerns as parts of the world sees demand pick up with the easing of pandemic conditions.
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Plan A : Remain buy as long as oil price trades firmly above 74.9. Targets are 75.5 and 76.6.
Plan B : Consider short only if oil price surges but fails to breach above 75.5. Targets are 74.9 and 74.4.
Gold
Gold prices steadied in choppy trading on Monday, with gains curbed by a stronger dollar and an uptick in U.S. Treasury yields, while investors awaited speeches from Federal Reserve policymakers for more clues on the tapering strategy.
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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....
