WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Major US stock indexes see-sawed on Monday as concerns of the latest banks crisis rose among investors while bet on lower chance of rate hike by the Federal Reserve.
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Plan A: Remain short as long as market trades below 32422. Targets are 31934 and 31738.
Plan B: Consider long if market stays above 32422. Targets are 32617 and 32813.
E-Mini S&P 500
The Dow Jones Industrial Average dropped on Monday as a plan to backstop all the depositors in failed Silicon Valley Bank, along with other extraordinary measures, failed to boost bank shares.
The losses were contained as some investors bet the financial shock could cause the Federal Reserve to pause interest rate hikes.
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Plan A: Short if market failed to support above 3887. Targets are 3872 and 3860.
Plan B: Long if market supported firm above 3887. Targets are 3899 and 3919.
E-Mini Nasdaq
A joint statement from the Fed, Treasury Department and the Federal Deposit Insurance Corporation said all Silicon Valley Bank depositors would have access to their money starting Monday. The Fed also said it is creating a new Bank Term Funding Program aimed at safeguarding deposits. The facility will offer loans of up to one year to banks, saving associations, credit unions and other institutions.
But investors bought up other areas of the market outside of banks, such as some technology stocks like Apple.
Traders are pricing in about 2-to-1 odds that the Fed raises its benchmark borrowing rate by 0.25 percentage point at the March 21-22 meeting. But the market also is anticipating that by the end of the year, the central bank will lop off 0.75 percentage point in cuts, taking the rate down to a target range of 4%-4.25%. Current pricing indicates a terminal rate of 4.75% by May.
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Plan A: Short if market failed to support above 11936. Targets are 11902 and 11872.
Plan B: Long if market retraced but supported firm above 11936. Targets are 11966 and 11993.
HSI
Hong Kong’s Hang Seng index rose 1.96%, led by technology stocks, and the Hang Seng Tech index climbed more than 3%.
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Plan A: Remain long if the market stays above 19375. Targets are 20000 and 20313.
Plan B: Consider short only if the market stays below 19375. Targets are 19063 and 18750.
WTI Crude
crude oil closed lower on Monday as worries that fallout from the collapse of two US banks last week will spread, heightening concerns that rising interest rates will lead to a demand-destroying recession.
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Plan A: Remain short as long as oil price stays below 76.56. Targets are 73.44 and 71.88.
Plan B: Consider long only if oil price stays above 76.56. Targets are 77.34 and 78.13.
Gold
Gold and silver prices surged on Monday, as their safe-haven appeal drew in investors spooked by the collapse of Silicon Valley Bank, with the crisis also sparking hopes the U.S. Federal Reserve would have to slam the brakes on its aggressive monetary policy.
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Plan A: Remain long as long as gold price stays above 1875. Targets are 1937.5 and 1953.1.
Plan B: Attempts short only if gold price stays below 1875. Targets are 1859.4 and 1843.8.
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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