Where Futures Lies

Daily Futures Trading Strategy 15 October 2021

Futurescoin
Publish date: Fri, 15 Oct 2021, 05:18 AM

                  WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

 
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E-Mini Dow

 
U.S. stocks surged on Thursday as companies including Bank of America and UnitedHealth gained following strong results, while data on the labor market and inflation soothed worries about the outlook for higher rates.
 

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Plan A : Remain buy as long as market trades firmly above 34526. Targets are 34909 and 35080.
 
Plan B : Consider short if market surges but fails to breach above 34909. Targets are 34878 and 34640.



E-Mini S&P 500
 

U.S. stocks rallied Thursday after better-than-expected earnings reports from Walgreens Boots Alliance, UnitedHealth, Bank of America and other major companies.

The S&P 500 rose 1.7% to 4,438.26 in its biggest jump since March. 

Eight members of the S&P 500 reported earnings this morning and all eight beat earnings-per-share expectations from Wall Street.

A lower-than-anticipated number of weekly jobless claims added to the positive market sentiment. Initial unemployment insurance claims last week totaled 293,000 – the first time the tally fell below the 300,000 level during the pandemic-era.

September’s producer price index came in lighter than expected, also helping sentiment. Wholesale prices rose 0.5% from the month prior versus the 0.6% Dow Jones estimate.

Goldman Sachs, J.B. Hunt and PNC Financial are among the names that will report quarterly results on Friday.

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Plan A :  Long if market supported firm above 4456. Targets are 4467, 4478 and 4490.

Plan B : Short if market failed to support above 4456. Targets are 4442, 4427 and 4410.

 
 
E-Mini Nasdaq
 

The Nasdaq Composite gained 1.73% for its best day since May. 

Thursday’s gains came despite hot inflation readings, which some have warned could derail the economic recovery. The consumer price index jumped 0.4% in September and 5.4% year over year, according to data from the Labor Department.

On the economic data front, retail sales numbers will be released Friday at 8:30 a.m. ET, while the University of Michigan Consumer Sentiment reading will hit the tape at 10 a.m. ET.

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Plan A : Long if market supported firm above 15068. Targets are 15098, 15129 and 15161.

 
Plan B : Short if market failed to support above 15068. Targets are 15028, 14980 and 14942.
 
 
 
HSI
 
Hong Kong stock exchange closed yesterday for National Day celebration and will resume trading today after halted on Wednesday due to typhoon warning.
 

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Plan A : Attempt buy if market trades firmly above 25002. Targets are 25269 and 25382.
 
Plan B : Consider short if market surges but fails to breach above 25382. Targets are 25269 and 25002.
 
 
 
WTI Crude
 
Oil prices rose on Thursday after top oil producer Saudi Arabia dismissed calls for additional OPEC+ supply and the International Energy Agency said surging natural gas prices could boost demand for oil among power generators.
 

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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 surges but fails to breach above 82.2. Targets are 81.4 and 80.0.

 
 
Gold
 
Gold touched a one-month high on Thursday, as a dip in the dollar and U.S. bond yields allowed investors to turn to bullion as an inflation hedge.
 

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Plan A : Remain buy if gold price trades firmly above 1781.8. Targets are 1795.3 and 1800.5.
 

Plan B : Consider short if gold price surges but fails to breach above 1800.5. Targets are 1795 and 1781.8.
 
 
 

 

 
 
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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