Where Futures Lies
Daily Futures Trading Strategy 13 October 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stock indexes were trading largely flat in a choppy session on Tuesday on worries over the impact of rising inflation on upcoming third-quarter earnings, while Tesla gained after record China-made vehicles sales.
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Plan A : Remain sell as long as market stays below 34407. Targets are 34251 and 34142.
Plan B : Consider long if market tested support at 34142 and rebound. Targets are 34251 and 34407.
E-Mini S&P 500
The three major U.S. stock indexes closed lower for a third consecutive session Tuesday ahead of a key inflation reading and a kick-off to third-quarter earnings season.
The S&P 500 ticked down 0.2% to 4,350.65.
The consumer price index for September is slated to be announced Wednesday morning. Economists expect prices for an array of consumer goods to jump 0.3% in September from the month prior and 5.3% year over year, according to Dow Jones.
The Federal Open Market Committee on Wednesday is also set to release its minutes from the September meeting. Investors will be digesting the minutes for any potential clues regarding the central bank’s plans to pull back easy monetary policy.
Earnings growth is expected to grow about 30% year over year this quarter following a 96.3% expansion in the second quarter, according to Refinitiv.
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Plan A : Long if market supported firm above 4350. Targets are 4361, 4372 and 4388.
Plan B : Short if market failed to support above 4350. Targets are 4335, 4319 and 4299.
E-Mini Nasdaq
U.S. stock futures were little changed in early morning trading on Wednesday as investors anticipate the start of earnings season and a new inflation report.
On Tuesday, the technology-focused Nasdaq Composite ended just 0.14% lower.
Heading into Wednesday, investors will be watching for September’s consumer inflation report, which is expected to have flared at the same rapid pace as August.
Job openings in August fell 659,000 to 10.4 million, according to the Labor Department’s latest Job Openings and Labour Turnover Survey released Tuesday.
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Plan A : Long if market supported firm above 14592. Targets are 14622, 14655 and 14690.
Plan B : Short if market failed to support above 14592. Targets are 14552, 14509 and 14465.
HSI
Hong Kong shares ended lower on Tuesday, dragged by tech heavyweights after reports of Chinese President Xi Jinping scrutinizing ties between lenders and big private firms.
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Plan A : Attempt sell if market remain trading under 25113. Targets are 24901 and 24832.
Plan B : Consider long if market trades firmly above 24832 and rebound. Targets are 24901 and 25113.
WTI Crude
Oil prices steadied after whipsawing in a volatile session on Tuesday, as traders weighed the effect that higher energy costs could have on the global economic recovery.
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Plan A : Remain buy as long as oil price stays above 80.0. Targets are 81.4 and 82.2.
Plan B : Consider short if oil price fails to hold firm above 80.0. Targets are 79.4 and 78.6.
Gold
Gold prices rose on Tuesday, as rising inflation fears dulled risk appetite and boosted demand for the safe-haven metal, although an advancing U.S. dollar limited bullion's gains.
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Plan A : Remain buy if gold price trades firmly above 1751.0. 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
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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....
