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Author: Futurescoin   |   Latest post: Mon, 26 Jul 2021, 4:50 PM

 

Daily Futures Trading Strategy 21 June 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 stocks fell on Friday after comments by Federal Reserve official James Bullard that inflation was stronger than anticipated shook investors' confidence in their existing positions, sending all three major indexes sharply lower.
 

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Plan A : Remain short as long as market stays trading below 33454. Targets are 33030 and 32756.
 
Plan B : Consider buying only if market holds resiliently above 33030 and rebound. Targets are 33203 and 33454.
 
 
 
E-Mini S&P 500

Stocks fell on Friday, with the Dow posting its worst weekly loss since October, as traders worried the Federal Reserve could start raising rates sooner than expected.

The S&P 500 slid 1.3% to 4,166.45. The S&P 500 hit its session low in the final minutes of trading and closed around those levels. 

Pockets of the market most sensitive to the economic rebound led the sell-off this week. The S&P 500 energy sector and industrials dropped 5.2% and 3.8%, respectively, for the week. Financials and materials meanwhile, lost more than 6% each. These groups had been market leaders this year on the back of the economic reopening.

The decline in stocks came as the Fed’s actions caused a drastic flattening of the so-called Treasury yield curve. This means the yields of shorter-duration Treasurys — like the 2-year note — rose while longer-duration yields like the benchmark 10-year declined. The retreat in long-dated bond yields reflects less optimism toward economic growth, while the jump in short-end yields shows the expectations of the Fed raising rates.

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Plan A : Long if market retraced but supported firm above 4148. Targets are 4165, 4181 and 4199.
 
Plan B : Short if market failed to support above 4148. Targets are 4123, 4095 and 4060.
 

E-Mini Nasdaq

Stock futures declined early Monday morning after the Dow posted its worst week since October.

The Nasdaq Composite closed 0.9% lower at 14,030.38. Economic comeback plays led the market losses.

U.S. stocks fell on Friday as investors digested new economic projections from the Federal Reserve and worried rate hikes could come sooner than expected.

Investors await public appearances from Fed members on Monday. Bullard and Dallas Fed President Robert Kaplan are set to speak virtually on a Official Monetary and Financial Institutions Forum panel at 9:00 a.m. ET. New York Fed President John Williams is expected to deliver remarks at a Midsize Bank Coalition of America event Monday afternoon.

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Plan A : Short if market failed to support above 14091. Targets are 14048, 14005 and 13965.
 
Plan B : Long if market supported firm above 14091. Targets are 14122, 14155 and 14199.
 
 
 
HSI
 
Hong Kong stocks ended higher on Friday on the back of gains in tech and healthcare firms, but posted weekly losses after the U.S. Federal Reserve this week projected higher interest rates in 2023.
 

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Plan A : Attempt sell if market trades below 28639. Targets are 28555 and 28366.
 

Plan B : Consider long only if market supports above 28366 and rebound. Targets are 28488 and 28555.

 

 
WTI Crude
 
Oil futures reversed earlier losses on Friday after OPEC sources said the producer group expected limited U.S. oil output growth this year despite rising prices.
 

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Plan A : Attempt sell if oil price trades below 71.1. Targets are 70.4 and 69.5

Plan B : Consider long if oil price trades resiliently above 71.1 and rebound. Targets are 71.9 and 72.8

 
 
Gold
 
Gold struggled for traction in choppy trading on Friday en route to its worst week in over a year as the dollar extended its rally on the back of the U.S. Federal Reserve's hawkish outlook. 
 

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Plan A : Remain short as long as gold price stays below 1794.8. Targets are 1766.1 and 1754.7.
 
Plan B : Consider long only if gold price supports resiliently above 1766.1 and rebound. Targets are 1794.8 and 1823.4.
 
 
 
 
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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