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Daily Futures Trading Strategy 11 February 2022 (Foreign Market)
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Publish date: Fri, 11 Feb 2022, 03:26 PM
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WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street ended sharply lower on Thursday after U.S. consumer prices data came in hotter than expected and subsequent comments from a Federal Reserve official raised fears the U.S. central bank will hike rates aggressively to fight inflation.
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Plan A: Remain short as long as market stays below 35277. Targets are 34909 and 34711.
Plan B: Consider long if market holds firm above 34909 and rebound. Targets are 35140 and 35277.
E-Mini S&P 500
Stock futures were lower in early morning trading Friday after a sharp Thursday sell-off on Wall Street spurred by the hottest inflation reading in four decades.
Thursday’s rout in risk assets came as Treasury yields spiked in reaction to data that showed consumer prices surged more than 7% last month, the highest gain since February 1982.
The hotter-than-expected inflation reading prompted St. Louis Fed President James Bullard to call for accelerating rate hikes — a full percentage point increase by the start of July.
Futures market also repriced rate-hike odds as CME data pointed to a near-100% chance of a 50-basis-point increase at the March meeting. Meanwhile, the market is forecasting a more aggressive schedule for the rest of this year, calling for as many as seven hikes.
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Plan A: Long if market supported firmly above 4476. Targets are 4482, 4496 and 4507.
Plan B: Short only if the market failed to support above 4476. Targets are 4461, 4457 and 4443.
E-Mini Nasdaq
The 10-year Treasury yield jumped above 2% for the first time since 2019, while the rate-sensitive 2-year yield soared more than 26 basis points at one point in its biggest intraday move since 2009.
Nasdaq 100 futures dropped 1%.
On Thursday, the blue-chip Dow dropped more than 500 points, breaking a three-day winning streak with its worst daily performance since Jan. 18. The S&P 500 and the Nasdaq Composite fell 1.8% and 2.1%, respectively.
Still, the major averages are on pace to post their third positive week in a row with modest gains. The Dow is up 0.4% this week, while the Nasdaq has gained 0.6%.
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Plan A: Long if the market supported firmly above 14621. Targets are 14655, 14682 and 14711.
Plan B: Short if market failed to support above 14621. Targets are 14599, 14564 and 14535.
HSI
Hong Kong's HSI finished higher on Thursday, led by tech shares, but gains were limited ahead of U.S. inflation data that is expected to provide more clues about the Federal Reserve's plans for interest rate hikes.
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Plan A: Attempt sell if market falls below 24833. Targets are 24565 and 24301.
Plan B: Consider long if market falls but supports well above 24301. Targets are 24565 and 24833.
WTI Crude
Oil prices fell on Thursday despite forecasts for a steeper rise in energy demand, with crude turning negative on fears that the U.S. Federal Reserve will hike rates more aggressively than expected to fight inflation.
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 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 prices touched their highest level in two-weeks on Thursday, supported by a weaker dollar and as data showing a spike in U.S. consumer prices boosted the metal's appeal as a hedge against inflation.
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: Attempt short if gold price trades below 1829.4. Targets are 1822 and 1817.5.
Plan B: Consider long if gold price trades firmly above 1817.5 and rebound. Targets are 1829.4 and 1841.3.
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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