Where Futures Lies
Daily Futures Trading Strategy 20 October 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks indexes rose on Tuesday as upbeat results from Johnson & Johnson and Travelers fired up risk appetite, after big banks kicked off the third-quarter reporting period on a positive note last week.
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Plan A : Remain buy as long as market trades firmly above 35146. Targets are 35338 and 35529.
Plan B : Consider short if market surges but fails to breach and stay firm above 35338. Targets are 35146 and 34909.
E-Mini S&P 500
U.S. stocks climbed on Tuesday as major companies continued to report strong third-quarter earnings, easing concerns that persistent Covid cases and rising costs would derail corporate America’s profit recovery.
The S&P 500 added 0.7% to 4,519.63, rising for a fifth straight day.
So far, 82% of S&P 500 companies that have reported earnings beat expectations, according to FactSet. Taking into account those reports and estimates for those to come, third-quarter profit growth will come in at 30%, according to FactSet.
While reports have been strong, investors are looking for commentary from corporate America about supply chain issues and inflation.
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Plan A : Long if market supported firm above 4520. Targets are 4531, 4542 and 4555.
Plan B : Short if market failed to support above 4520. Targets are 4505, 4488 and 4467.
E-Mini Nasdaq
U.S. stock index futures were little changed during early morning trading on Wednesday, after the S&P 500 on Tuesday posted its fifth straight winning session as strong earnings numbers lift sentiment.
The Nasdaq Composite advanced 0.71%.
Netflix posted its hotly-anticipated third-quarter earnings report on Tuesday after the market closed, with the streaming giant adding 4.4 million subscribers during the period. Wall Street analysts were expecting 3.84 additions, according to estimates from StreetAccount. The stock initially ticked higher on the results, before giving back those gains and dipping into the red during extended trading.
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Plan A : Long if market supported firm above 15411. Targets are 15442, 15475 and 15509.
Plan B : Short if market failed to support above 15411. Targets are 15371, 15328 and 15281.
HSI
Hong Kong shares ended at a five-week high on Tuesday, fuelled by tech giants tracking an overnight Wall Street rally, with video platform Bilibili Inc leading gains.
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Plan A : Remain buy as long as market stays firm above 25567. Targets are 26021 and 26302.
Plan B : Consider short if market surges but fails to breach above 26021. Targets are 25740 and 25567.
WTI Crude
Oil rose on Tuesday and was near multi-year highs as an energy supply crunch continued across the globe, which falling temperatures in China revived concerns over whether the world's biggest energy consumer can meet domestic heating needs.
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Plan A : Remain buy as long as oil price stays above 82.2. Targets are 82.8 and 83.8.
Plan B : Consider short if oil price fails to hold above 82.2. Targets are 81.4 and 80.0.
Gold
Gold prices pared gains on Tuesday, after rising more than 1% earlier, as their safe-haven appeal took a knock from rising U.S. Treasury yields and upbeat earnings from American companies.
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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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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....
