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Daily Futures Trading Strategy 20 August 2021 (Foreign Market)

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Publish date: Fri, 20 Aug 2021, 04:08 PM
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                      WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

 
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E-Mini Dow

 
The S&P 500 ended modestly higher while Dow lost 66-points in a choppy session on Thursday, with gains in tech shares countering losses in cyclical sectors, as investors took the pulse of the economic rebound and gauged when the Federal Reserve might temper its monetary stimulus.
 

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Plan A : Remain sell as long as market stays below 34909. Targets are 34750 and 34585.
 
Plan B : Consider long if market trades resiliently above 34750 and rebound. Targets are 34909 and 35020.

 
 
E-Mini S&P 500
 

The S&P 500 churned higher Thursday in the face of concerns about the Federal Reserve removing stimulus.

The broad index inched up 0.1% to 4,405.80. The S&P 500 snapped a two-day losing streak. Meeting minutes released Wednesday from the Fed’s gathering in July showed the central bank has started eyeing tapering its $120 billion in monthly bond purchases before the year-end.

Investors digested mixed economic data released Thursday. First-time jobless claims last week hit a new pandemic-era low at 348,000, declining more than expected from the week prior.

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Plan A : Long if market supported firm above 4386. Targets are 4397, 4408 and 4421.
 
Plan B : Short if market failed to support above 4386. Targets are 4370, 4354 and 4335.


 
E-Mini Nasdaq

Stock futures were in negative territory early Friday morning after a choppy regular trading session ended with the S&P 500 slightly in the green.

The Nasdaq Composite added 0.1%. The Nasdaq is set to see its worst week since May.

The second quarter earnings season is largely in the rear-view mirror, but a few companies are still on deck. Deere and Foot Locker are set to provide quarterly updates on Friday before the market opens.


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Plan A : Long if market supported firm above 14924. Targets are 14956, 14988 and 15025.

 
Plan B : Short if market failed to support above 14924. Targets are 14885, 14840 and 14798.
 
 
 
HSI
 
Hong Kong shares ended lower on Thursday, dragged by internet stocks as China further tightened its regulatory oversight on the country's tech sector.
 

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Plan A : Remain sell as long as market stays below 25320. Targets are 25158 and 24870.

Plan B : Consider long if market able to trade firmly above 25158 and rebound. Targets are 25290 and 25320.

 
 
WTI Crude
 
Oil dropped for a sixth-straight session on Thursday, falling to the lowest level since May as demand fears and comments from the Federal Reserve that it will suspend its bond-buying program sent prices tumbling.
 

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Plan A : Remain sell as long as oil price stays below 64.5. Targets are 63.8 and 62.4.

Plan B : Consider buy only if oil price able to support above 63.8 and rebounds. Targets are 64.5 and 66.3.

 
 
Gold
 
Gold prices eased on Thursday as a stronger dollar and bets over an early policy tapering by the U.S. Federal Reserve weighed on sentiment, although losses for the safe-haven metal were limited by concerns that rising COVID-19 cases will slow global growth.
 

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Plan A : Remain buy as long as gold price trades firmly above 1768.8. Targets are 1788.2 and 1794.8.

 
Plan B : Consider short if gold price fails to breach above 1794.8. Targets are 1785.6 and 1766.1.
 
 
 
 
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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