Where Futures Lies
Daily Futures Trading Strategy 6 October 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street ended sharply higher on Tuesday, as Microsoft and Apple spearheaded a strong rebound in growth stocks and investors awaited monthly payrolls data later this week that could influence the U.S. Federal Reserve's decision on when to scale back monetary stimulus.
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Plan A : Remain buy as long as market stays above 34142. Targets are 34289 and 34443.
Plan B : Consider short if market surges but fails to breach above 34289. Targets are 34142 and 33905.
E-Mini S&P 500
The major averages rebounded on Tuesday following a technology-centered market rout in the previous session.
The S&P 500 rose 1.05% to 4,345.72.
Helping sentiment around the recovery, the Institute for Supply Management services PMI report for September rose to 61.9 from 61.7 in August, 2 points better than expected.
The market suffered a tumultuous September as inflation fears, slowing growth and rising rates kept investors on edge.
Treasury Secretary Janet Yellen said Tuesday she believes the economy would fall into a recession if Congress fails to raise the debt ceiling before a default on the U.S. debt.
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Plan A : Short if market failed to support above 4308. Targets are 4292, 4275 and 4259.
Plan B : Long if market supported firm above 4308. Targets are 4321, 4330 and 4341.
E-Mini Nasdaq
Stock futures fell in early morning trading on Wednesday after the markets rebounded from a tech-led sell-off a day earlier.
Mega-cap technology names were solidly in the green on Tuesday. Netflix rose 5.2%, Amazon gained just shy of 1%. Apple and Alphabet advanced 1.4% and nearly 1.8%, respectively. Facebook shares rose 2% following a 5% slide on Monday due to a whistleblower’s claims and a site outage.
The ADP private payrolls report for September is set to be released Wednesday. Also on the labor market front, the closely watched nonfarm payrolls report for September is slated for release Friday.
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Plan A : Short if market failed to support above 14507. Targets are 14465, 14421 and 14380.
Plan B : Long if market supported firm above 14507. Targets are 14538, 14571 and 14601.
HSI
Hong Kong stocks rose on Tuesday as energy firms gained on the back of stronger crude oil prices, while Chinese property and related shares remained subdued on mounting worries over the debt crisis of China Evergrande Group.
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Plan A : Remain buy as long as market stays above 24006. Targets are 24217 and 24310.
Plan B : Consider short if market surges but fails to breach above 24310. Targets are 24217 and 24161.
WTI Crude
Brent crude oil futures hit a three-year high on Tuesday while U.S. benchmark crude reached close to 2014 peaks after the OPEC+ group of producers stuck to its planned output increase rather than pumping even more crude.
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Plan A : Remain buy as long as oil price trades firmly above 77.9. Targets are 79.4 and 80.0.
Plan B : Consider short only if oil price surges but fails to breach above 80.0. Targets are 78.9 and 77.9.
Gold
Gold prices fell on Tuesday as the dollar benefited from subdued risk sentiment, with bullion likely to see choppy trade in the run up to Friday's U.S. jobs numbers that could dictate the Federal Reserve's tapering plans.
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Plan A : Remain buy if gold price trades firmly above 1755.7. Targets are 1770 and 1777.9.
Plan B : Consider short if gold price surges but fails to breach above 1770. Targets are 1761 and 1755.7.
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....
