Where Futures Lies
Daily Futures Trading Strategy 10 December 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Dow Jones futures were little changed Thursday night, along with S&P 500 futures and Nasdaq futures, with a crucial inflation report on tap Friday morning after Thursday's growth-led sell-off. Costco Wholesale, Oracle and Broadcom headlined key earnings after the close.
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Plan A: Remain buys as long as the market trades firmly above 35692. Targets are 35735 and 36778.
Plan B: Consider short if the market fails to breach above 35692. Targets are 35640 and 35590.
E-Mini S&P 500
The S&P 500 and Nasdaq Composite finished lower on Thursday after all three of the major averages posted 3 days of gains. Traders took a pause from the rebound rally and turned their attention to inflation data due out on Friday.
The Dow Jones Industrial Average ended the trading session at 35,754.69, losing less than a point. The S&P 500 fell 0.72% to 4,667.45 and the Nasdaq Composite slid 1.7% to 15,517.37. All the major averages are still on track for a winning week.
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Plan A: Long if market retraced but supported firmly above 4660. Targets are 4671, 4682 and 4701.
Plan B: Short only if the market failed to support above 4660. Targets are 4644, 4629 and 4612.
E-Mini Nasdaq
Stock futures were little changed early Friday after investors pulled back from the market rebound earlier in the week and turned their focus to inflation data due later in the day.
The moves came after the major averages ended the regular trading session lower, each snapping a three-day win streak. The Dow, moved less than a point lower, finishing at the flatline. The S&P 500 fell 0.7% and the tech-heavy Nasdaq Composite lost 1.7%. Nevertheless, all are on track to finish the week higher.
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Plan A: Long if the market supported firmly above 16151. Targets are 16183, 16215 and 16244.
Plan B: Short if market failed to support above 16151. Targets are 16110, 16067 and 16027.
HSI
Asia-Pacific markets declined on Friday as investors assess risks associated with the new omicron Covid variant and look ahead to key inflation data in the U.S.
In Hong Kong, the Hang Seng index fell 0.92%.
Friday’s session in Asia follows overnight declines on Wall Street.
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Plan A: Remain buys as long as the market trades firmly above 23999. Targets are 24091 and 24182.
Plan B: Consider selling only if the market fails to stay firm above 23999. Targets are 23920 and 23838.
WTI Crude
Oil prices settled lower on Thursday on fears about the economic outlook in the world’s biggest oil importer following rating downgrades to two Chinese property developers, and after some governments took measures to fight the Omicron variant of the coronavirus.
WTI futures were down $1.42, or 2%, at $70.94 after hitting a peak of $73.34.
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Plan A: Remain buys as long as oil price trades firmly above 71.32. Targets are 71.9 and 72.6.
Plan B: Consider short if oil price fails to breach above 71.32. Targets are 70.5 and 69.8.
Gold
Gold prices edged higher on Friday but were headed for a fourth straight weekly fall as investors kept to the sidelines ahead of key U.S. inflation data that could influence the Federal Reserve's next policy move.
Spot gold rose 0.1% to $1,776.23 per ounce by 0057 GMT. U.S. gold futures gained 0.1% to $1,778.60.
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Plan A: Remain to sell as long as gold price stays below 1791.4. Targets are 1780 and 1768.7.
Plan B: Consider long if gold price trades resiliently above 1780.0. Targets are 1791.4 and 1800.5.
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....
