Where Futures Lies
Daily Futures Trading Strategy 18 October 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks rose on Friday and the Dow scored its biggest weekly percentage gain since June, as Goldman Sachs rounded out a week of strong quarterly earnings for the big banks.
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Plan A : Remain buy as long as market trades firmly above 34909. Targets are 35146 and 35338.
Plan B : Consider short if market surges but fails to breach above 35338. Targets are 35146 and 34909.
E-Mini S&P 500
U.S. stocks rose Friday as better-than-expected third-quarter earnings reports boosted the Dow Jones Industrial Average to its best weekly performance since June.
The S&P 500 added roughly 0.8% at 4,471.37.
Third-quarter earnings reporting season continued Friday as Goldman Sachs' results beat significantly on the top and bottom line. The bank stock gained 3.8% and was the top gainer on the Dow.
As of Friday, 80% of the 41 S&P 500 companies that have reported third-quarter results have topped earnings-per-share expectations, according to FactSet. Taking into account these results and estimates for those yet to report, the blended third-quarter earnings growth rate for the S&P 500 is 30%, FactSet analysis shows.
Retail sales posted a surprise increase in September, rising 0.7%. Economists polled by Dow Jones were expecting a 0.2% decline.
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Plan A : Long if market supported firm above 4456. Targets are 4467, 4479 and 4491.
Plan B : Short if market failed to support above 4456. Targets are 4441, 4420 and 4408.
E-Mini Nasdaq
U.S. stock index futures were little changed during early morning trading on Monday, after the major averages posted their best week in months amid a stronger-than-expected start to earnings season.
The Nasdaq Composite saw its best week since the end of August, with the tech-heavy index adding 2.18%.
Earnings season is now in full swing, and a number of big names are set to report in the coming week, including Netflix, Johnson & Johnson, United Airlines and Procter & Gamble on Tuesday. Tesla, Verizon and IBM are among the other names on deck for the week.
As earnings season gets into full swing, investors will be watching for company commentary around supply chain bottlenecks and inflation, among other things.
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Plan A : Long if market supported firm above 15068. Targets are 15099, 15131 and 15165.
Plan B : Short if market failed to support above 15068. Targets are 15027, 14987 and 14944.
HSI
HSI finished higher on Friday after strong corporate earnings boosted U.S. shares, but investors were awaiting Chinese third-quarter economic data due Monday for clues to policy direction.
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Plan A : Attempt buy if market trades firmly above 25249. Targets are 25478 and 25567.
Plan B : Consider short if market surges but fails to breach above 25567. Targets are 25337 and 25249.
WTI Crude
Oil prices jumped to a three-year high above $85 a barrel on Friday, boosted by forecasts of a supply deficit in the next few months as the easing of coronavirus-related travel restrictions spurs demand.
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Plan A : Remain buy as long as oil price stays above 81.6. Targets are 82.2 and 83.3.
Plan B : Consider short if oil price surges but fails to hold above 82.2. Targets are 81.4 and 80.0.
Gold
Gold was set on Friday for its best week in more than five months as a retreat in the U.S. dollar and Treasury yields lifted the metal's appeal despite a looming Federal Reserve taper.
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Plan A : Attempt buy if gold price trades firmly above 1764.9. Targets are 1773.6 and 1781.8.
Plan B : Consider short if gold price surges but fails to breach above 1781.8. Targets are 1773.6 and 1764.9.
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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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....
