Where Futures Lies

Daily Futures Trading Strategy 10 February 2022 (Foreign Market)

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Publish date: Thu, 10 Feb 2022, 03:29 PM
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         WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq

 

 
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E-Mini Dow

 
Wall Street jumped on Wednesday, closing sharply higher on megacap growth stocks powered up thanks to a pause in rising interest rates, and upbeat earnings reports also encouraged investors to buy.
 

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Plan A: Remain buy as long as market trades firmly above 35574. Targets are 35725 and 35781.
 
Plan B: Consider short if market surges but fails to breach above 35871. Targets are 35691 and 35574.



 

 

E-Mini S&P 500
 

U.S. stock futures were mixed early Thursday morning of ahead of key inflation data expected later in the day.
 
The S&P 500 gained 1.5% to 4,587.18, while the Dow Jones Industrial Average rose 305.28 points, or 0.86%, to close at 35,768.06.
 
As of the opening bell on Wednesday, roughly 60% of all S&P 500 companies have reported fourth-quarter earnings and about 77% have topped Wall Street’s earnings estimates.
 
Investors are also preparing for Thursday’s Consumer Price Index report, which will give an update on the inflation picture. The Fed has already signaled a monetary policy pivot in order to address the historically high price increases.
 
The inflation data is estimated to show that prices rose 0.4% in January, for a 7.2% gain from one year ago, according to Dow Jones.
 
Mortgage applications dropped 10% week over week, however, as the rise in interest rates in recent months appears to have dampened demand among homebuyers.


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Plan A: Long if market supported firmly above 4575. Targets are 4582, 4596 and 4610.
 
Plan B: Short only if the market failed to support above 4575. Targets are 4563, 4559 and 4541.



 
E-Mini Nasdaq
 
U.S. stocks rose on Wednesday as tech shares led a broad rally, clawing back some of their losses after a rough start to the year.
 
Nasdaq Composite jumped for a second day as tech shares led the market higher and helped it recover some losses from the January sell-off, which was also led by tech names.

Bond yields, which have surged this year, cooled slightly, perhaps helping boost tech shares. The benchmark 10-year Treasury note traded near 1.945%.

Investors were also preparing for Thursday’s Consumer Price Index report, which is expected to show headline inflation for January at the highest pace since 1982. Core inflation, which excludes food and energy costs and is the Federal Reserve’s preferred measure of inflation, is expected to rise by 0.4%, or 7.2% year-over-year.


To subscribe to a real-time signal, email us at futures.coin@gmail.com for details. Sign up today for your December subscription.

 

Plan A: Long if the market supported firmly above 14998. Targets are 15021, 15059 and 15086.
 
Plan B: Short if market failed to support above 14998. Targets are 14964, 14938 and 14905.

 



 
HSI
 
Hong Kong shares tracked a global rally to finish higher on Wednesday, with index heavyweight Alibaba leading a surge in tech firms.


To subscribe to a real-time signal, email us at futures.coin@gmail.com for details. Sign up today for your December subscription.

 
Plan A: Remain buy as long as market trades firmly above 24794. Targets are 25020 and 25166.
 
Plan B: Consider short if market surges but fails to breach above 25166. Targets are 25020 and 24834.



 
 
WTI Crude
 
Oil prices were stable around $90 a barrel on Wednesday but the prospect of increased supply from Iran and the United States kept pressure on the market.
 

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Plan A: Remain buy as long as oil price stays firm above 89.2. Targets are 91.2 and 91.7.

Plan B : Consider short if oil price surges fails to hold above 89.2. Targets are 88.5 and 86.7.

 
 
 
Gold
 
Gold eked out gains on Wednesday, helped by a weaker dollar and a retreat in U.S. Treasury yields, although prices moved in a tight range as investors refrained from making large bets ahead of U.S. inflation data.
 

To subscribe to a real-time signal, email us at futures.coin@gmail.com for details. Sign up today for your December subscription.

Plan A: Remain buy as long as gold price stays firm above 1829.4. Targets are 1834.4 and 1841.3.

Plan B: Consider short if gold price surges but fails to breach above 1834.4. Targets are 1829.4 and 1817.5.

 

 

 

 

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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