WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
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Plan A : Attempt buy if market trades firmly above 31422. Targets are 31622 and 31863.
Plan B : Consider short only if market fails to hold above 31422. Targets are 31339 and 31273.
E-Mini S&P 500
The Dow Jones Industrial Average bounced back from steep losses and closed the session in the green on Tuesday after Federal Reserve Chair Jerome Powell relieved some of the concerns about higher interest rates and inflation.
The blue-chip Dow wiped out a 360-point loss and closed 15.66 points higher, or 0.1%, at 31,537.35. The S&P 500 also reversed a 1.8% loss and ended the day 0.1% higher at 3,881.37.The Nasdaq Composite slipped 0.5% to 13,465.20 after dropping as much as 3.9% earlier. At its session low, the tech-heavy benchmark fell below its 50-day moving average, a key technical indicator, for the first time since Nov. 3 on an intraday basis.
Inflation fears have risen in recent weeks amid a sharp rise in bond yields as policymakers debate another round of economic relief. Investors worry that a spike in prices due to federal stimulus could force the central bank to raise short-term borrowing costs.
Energy and financials — two of the best-performing sectors this year — once again supported the market Tuesday as investors snap up names they think will benefit from an economic recovery. The energy sector gained 1.6%, bringing its 2021 rally to nearly 27%.
The 10-year Treasury yield, which has risen steadily since the start of 2021, held steady on Tuesday around 1.36%. So far this month, the benchmark rate has moved up hefty 28 basis points. The 30-year yield touched a one-year high of 2.2% Monday. A basis point is 0.01%.
The Dow Jones Industrial Average bounced back from steep losses and closed the session in the green on Tuesday after Federal Reserve Chair Jerome Powell relieved some of the concerns about higher interest rates and inflation.
The blue-chip Dow wiped out a 360-point loss and closed 15.66 points higher, or 0.1%, at 31,537.35. The S&P 500 also reversed a 1.8% loss and ended the day 0.1% higher at 3,881.37.The Nasdaq Composite slipped 0.5% to 13,465.20 after dropping as much as 3.9% earlier. At its session low, the tech-heavy benchmark fell below its 50-day moving average, a key technical indicator, for the first time since Nov. 3 on an intraday basis.
Inflation fears have risen in recent weeks amid a sharp rise in bond yields as policymakers debate another round of economic relief. Investors worry that a spike in prices due to federal stimulus could force the central bank to raise short-term borrowing costs.
Energy and financials — two of the best-performing sectors this year — once again supported the market Tuesday as investors snap up names they think will benefit from an economic recovery. The energy sector gained 1.6%, bringing its 2021 rally to nearly 27%.
The 10-year Treasury yield, which has risen steadily since the start of 2021, held steady on Tuesday around 1.36%. So far this month, the benchmark rate has moved up hefty 28 basis points. The 30-year yield touched a one-year high of 2.2% Monday. A basis point is 0.01%.
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Plan A : Long if market supported firm above 3848. Targets are 3863, 3880 and 3902.
Plan B : Short if market failed to support above 3848. Targets are 3823, 3795 and 3778.
E-Mini Nasdaq
U.S. stock futures were largely flat on Tuesday evening as investors looked to see whether a late-day swing in the market would continue into Wednesday.
The move in futures follows a wild comeback during Tuesday's market hours that saw the Dow and S&P 500 erase sharp losses to finish modestly higher. The positive finish snapped a five-day skid for the S&P 500. The Nasdaq Composite, which was down nearly 4% at point, finished with a loss of just 0.5%.
The market’s overall rebound on Tuesday was mirrored in the moves of tech giant Apple and electric-vehicle stock Tesla, which finished with losses of 0.1% and 2.2%, respectively, after suffering much steeper losses earlier in the day. Energy stocks and financials outperformed, while tech and consumer discretionary plays lagged the broader market.
On Wednesday, Powell’s visit to Capitol Hill will continue when he addresses the House of Representatives Financial Services Committee. Investors will also get another look at the construction industry with data on new home sales and an earnings report from Lowe’s.
Plan A : Long if market supported firm above 3848. Targets are 3863, 3880 and 3902.
Plan B : Short if market failed to support above 3848. Targets are 3823, 3795 and 3778.
U.S. stock futures were largely flat on Tuesday evening as investors looked to see whether a late-day swing in the market would continue into Wednesday.
The move in futures follows a wild comeback during Tuesday's market hours that saw the Dow and S&P 500 erase sharp losses to finish modestly higher. The positive finish snapped a five-day skid for the S&P 500. The Nasdaq Composite, which was down nearly 4% at point, finished with a loss of just 0.5%.
The market’s overall rebound on Tuesday was mirrored in the moves of tech giant Apple and electric-vehicle stock Tesla, which finished with losses of 0.1% and 2.2%, respectively, after suffering much steeper losses earlier in the day. Energy stocks and financials outperformed, while tech and consumer discretionary plays lagged the broader market.
On Wednesday, Powell’s visit to Capitol Hill will continue when he addresses the House of Representatives Financial Services Committee. Investors will also get another look at the construction industry with data on new home sales and an earnings report from Lowe’s.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for March subscription.
Plan A : Short if market failed to support above 13093. Targets are 13055, 13010 and 12971.
Plan B : Long if market doesn't retrace much and supported firm above 13093. Targets are 13123, 13151 and 13189.
HSI
Hong Kong stocks closed higher on Tuesday, helped by gains in financial and energy firms on hopes of a faster economic recovery globally.
Plan A : Short if market failed to support above 13093. Targets are 13055, 13010 and 12971.
Plan B : Long if market doesn't retrace much and supported firm above 13093. Targets are 13123, 13151 and 13189.
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