Where Futures Lies
Daily Futures Trading Strategy 7 February 2022 (Foreign Market)
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Publish date: Mon, 07 Feb 2022, 03:40 PM
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WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Stock indexes around the globe traded mixed despite strong Amazon earnings and upbeat economic data on Friday, while gold prices slipped under pressure from a firmer dollar and higher U.S. Treasury yields, potentially bolstering the case for Federal Reserve rate hikes.
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Plan A: Remain short as long as market stays below 35100. Targets are 34800 and 34600.
Plan B: Consider long if market able to stabilize above 34670 and rebound. Targets are 34950 and 35050.
E-Mini S&P 500
U.S. stock index futures were muted in early morning trading on Monday after the S&P posted its best week of 2022, boosted by quarterly earnings reports and a better-than-expected January employment report.
So far 56% of S&P 500 companies have posted quarterly earnings, with 79% beating earnings estimates and 77% topping revenue expectations.
U.S. oil prices topped $90 per barrel for the first time since 2014, adding to concerns about inflation.
Those numbers followed the release of ADP’s surprisingly downbeat private payrolls data Wednesday. Investors are still looking forward to Friday’s release of nonfarm payrolls data. Consensus estimates see a gain of 150,000 jobs, according to Dow Jones, but Wall Street forecasters say the actual tally will be far lower, with one estimating a loss of 400,000 jobs in January.
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Plan A: Long if market supported firmly above 4488. Targets are 4499, 4507 and 4520.
Plan B: Short only if the market failed to support above 4488. Targets are 4471, 4469 and 4457.
E-Mini Nasdaq
U.S. stocks fell on Thursday as investors’ renewed optimism on big tech names, driven by a slew of strong earnings, took a turn down after Facebook-parent Meta Platforms reported disappointing quarterly results.
eta Platforms shares plunged 26.4% after the company’s quarterly profit fell short of expectations. The company also issued weaker-than-expected revenue guidance for the current quarter. It was the biggest drop ever for the Facebook parent.
That heightened bar, Kinahan added, is due in part to the forthcoming Fed rate hikes. This week, tech earnings distracted investors from the central bank’s upcoming moves, but the prospect of policy tightening is still driving the market, he said.
The 10-year U.S. Treasury yield gained in anticipation of Friday’s data, adding to the pain in tech stocks.
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Plan A: Long if the market supported firmly above 14715. Targets are 14741, 14779 and 14800.
Plan B: Short if market failed to support above 14715. Targets are 14688, 14652 and 14621.
HSI
Hong Kong’s Hang Seng index led gains among the region’s major markets, rising 3.24% to close at 24,573.29. Markets in Hong Kong returned to trade on Friday after being closed for most of this week due to the Lunar New Year holidays.
To subscribe to a real-time signal, email us at futures.coin@gmail.com for details. Sign up today for your February subscription.
Plan A: Remain buy as long as market trades firmly above 24200. Targets are 24600 and 24900.
Plan B: Consider short if market surge but fails to break 24600. Targets are 24300 and 24100.
WTI Crude
Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.
To subscribe to a real-time signal, email us at futures.coin@gmail.com for details. Sign up today for your February subscription.
Plan A: Remain buy as long as oil price stays firm above 90.80. Targets are 92.70 and 93.20.
Plan B : Consider short if oil price surges but fails to breach above 93.20. Targets are 91.30 and 90.80.
Gold
Gold prices edged higher in choppy trade on Friday as growing inflation worries helped cushion pressure from a firmer dollar and higher U.S. Treasury yields after a surprisingly upbeat U.S. jobs data.
To subscribe to a real-time signal, email us at futures.coin@gmail.com for details. Sign up today for your February subscription.
Plan A: Remain buy if gold price trades firmly above 1806 and rebound. Targets are 1814 and 1820.
Plan B: Attempt short if price surge but fails to break 1816. Targets are 1807 and 1800.
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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