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Author: Futurescoin   |   Latest post: Thu, 21 Jan 2021, 5:15 PM

 

Daily Futures Trading Strategy 12 January 2021 (Foreign Market)

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              WTI Crude, Gold, HSI, Dow,             S&P 500 and Nasdaq

 

 
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E-Mini Dow

 
Wall Street's main indexes closed lower on Monday as investors took some profits after last week's records while they waited for earnings season to begin and eyed events in Washington with trepidation.
 

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Plan A : Remain buy as long as market stays firm above 30831. Targets are 31090 and 31406.
 
Plan B : Consider short only if market surges but fails to breach above 31090. Targets are 30960 and 30831.
 

 

E-Mini S&P 500
 

Stocks fell on Monday as investors assessed equity valuations and the outlook for more Covid-19 relief stimulus, along with ongoing political turmoil.

The S&P 500 dipped 0.7% to 3,799.61. 

Tesla shares were off by 7.8% on Monday. Bitcoin, which has been a symbol of speculation in the financial markets, was back down to $33,000 after trading above $40,000 over the weekend.

Tensions were high in Washington again to start the week as House Democrats introduced an article of impeachment on Monday against President Donald Trump for inciting the mob attack at the Capitol. The lower chamber plans to vote on the article sometime this week.

For now, the market appears to be looking past it because Congress was able to successfully confirm Biden’s election win and Democrats now in the Senate majority are likely to pursue another big stimulus. If these events start to delay or derail those stimulus plans, traders may start to pay more attention.

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Plan A : Short if market failed to support above 3791. Targets are 3765, 3741 and 3710.

Plan B : Long if market doesn't retrace much and supported firm above 3791. Targets are 3809, 3825 and 3838.

 
 
E-Mini Nasdaq
 

U.S. equity futures were flat in early morning trading on Tuesday after breaking a win streak as investors grew worried about stocks’ stretched valuations.

The Nasdaq Composite pulled back by 1.3% to 13,036.43. 

On Monday, equities dipped as investors evaluated lofty stock valuations amid recent record highs, seemingly disregarding the backdrop of Covid-19 and political turmoil.

The Nasdaq Composite was the relative under-performer, dipping 1.25% as Facebook, Amazon, Netflix and Google-parent Alphabet all closed lower.

Outperformers on Monday were those most sensitive to economic growth, like banks, retailers and certain small-caps. Last week, President-elect Joe Biden promised an economic stimulus rollout, which he said will be “in the trillions of dollars.”

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Plan A : Short if market failed to support above 12955. Targets are 12918, 12876 and 12835.

Plan B : Long if market doesn't retrace much and supported firm above 12955. Targets are 12985, 13018 and 13049.

 

HSI
 
Hong Kong stocks ended higher on Monday despite latest tensions between China and the United States, as mainland investors continued to hunt bargains via the Stock Connect.
 

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Plan A : Remain buy as long as market trades firmly above 27717. Targets are 27940 and 28396.

Plan B : Consider short if market surges but fails to breach above 28190. Targets are 27940 and 27850.

 
 
WTI Crude
 
Oil prices were little changed on Monday as tough coronavirus lockdowns around the world renewed concerns about global fuel demand, while a stronger U.S. dollar also weighed on prices.
 

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Plan A : Remain buy as long as oil price stays firm above 51.5. Targets are 52.8 and 53.6

Plan B : Consider short if oil price surges but fails to breach above 52.8. Targets are 52.1 and 51.5

 
 
Gold
 
Gold eased on Monday, having touched a six-week low earlier in the session, clamped down by a firm dollar and higher U.S. Treasury yields due to hopes of more fiscal stimulus.
 

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Plan A : Remain short as long as gold price trades below 1860.6. Targets are 1836.6 and 1806.8.
 
Plan B : Consider buy only if gold price trades firmly above 1836.6. Targets are 1849 and 1860.6.
 

 

 

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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