Where Futures Lies
Daily Futures Trading Strategy 30 November 2021
WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street stocks closed higher on Monday, regaining some of the ground they lost in Friday's sell-off, as investors were hopeful that the Omicron coronavirus variant would not lead to lockdowns after reassurances from U.S. President Joe Biden.
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Plan A : Attempt long if market trades firmly above 35017. Targets are 35308 and 35404.
Plan B : Consider short if market rebounds but fails to breach above 35308. Targets are 35125 and 35017.
E-Mini S&P 500
Stock futures tumbled in early Tuesday trading, reversing from a rebound on Wall Street as investors reassessed risks associated with the new omicron Covid variant.
The reversal came after Moderna CEO Stephane Bancel told the Financial Times that he expects existing vaccines to be less effective against the new variant. Bancel told CNBC on Monday that it could take months to develop and ship an omicron specific vaccine.
The overnight action followed a broad-based comeback that saw the S&P 500 jump 1.3% with all 11 sectors registering gains. Major averages rose to session highs on Monday after President Joe Biden said economic lockdowns are currently off the table and there will be no new travel restrictions.
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Plan A : Long if market supported firm above 4611. Targets are 4622, 4633 and 4642.
Plan B : Short if market failed to support above 4611. Targets are 4595, 4579 and 4560.
E-Mini Nasdaq
Stocks bounced on Monday, following Friday’s big sell-off, after President Joe Biden said economic lockdowns in response to the omicron Covid variant are currently off the table.
The tech-focused Nasdaq Composite rose 1.9% to 15,782.83.
The 10-year Treasury yield rebounded back above 1.5% on Monday after a flight to safety Friday sent investors scrambling into bonds and sent rates lower. Prices move inversely to yields.
On top of Covid developments, investors are also anticipating key economic data released this week.
The November jobs report Friday is expected to show solid jobs growth. Economists surveyed by Dow Jones expect 581,000 jobs added in November.
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Plan A : Long if market supported firm above 16250. Targets are 16281, 16312 and 16351.
Plan B : Short if market failed to support above 16250. Targets are 16208, 16165 and 16120.
HSI
Hong Kong shares closed at a more than one-year low on Monday, as concerns lingered about the new Omicron coronavirus variant, while Meituan slumped after it forecast a weaker outlook following its largest-ever quarterly loss in three years.
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Plan A : Remain sell as long as market stays below 23920. Targets are 23720 and 23490.
Plan B : Consider long if market supports above 23490 and rebound. Targets are 23720 and 23920.
WTI Crude
Oil prices jumped Monday as traders bet that Friday's sharp sell-off, prompted by fears that the new omicron Covid variant will curb demand for petroleum products, was overdone.
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Plan A : Remain buy as long as oil price stays firm above 70.3. Targets are 71.2 and 73.6.
Plan B : Consider short if oil price rebounds but fails to breach above 71.2. Targets are 70.2 and 68.7.
Gold
Gold eased on Monday, resuming a broad decline from the previous week, as the dollar firmed and risk sentiment recovered with markets weighing how severe the economic impact would be from the Omicron coronavirus variant.
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Plan A : Attempt buy if gold price trades firmly above 1781.8. Targets are 1792 and 1800.5.
Plan B : Consider short if gold price surges but fails to breach above 1800.5. Targets are 1792 and 1781.8.
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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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
