WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
The Dow and S&P 500 rose on Monday as U.S. regulators said they would backstop a deal for the assets of collapsed Silicon Valley Bank, helping ease fears of a banking crisis. The Nasdaq closed down.
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Plan A: Remain long as long as market trades above 32520. Targets are 32813 and 32910.
Plan B: Consider short if market stays below 32520. Targets are 32422 and 32324.
E-Mini S&P 500
The Dow Jones Industrial Average rose Monday, building on last week’s gains, as investors attempted to move on from the crisis that broke out in the regional bank sector earlier this month following the collapse of Silicon Valley Bank.
A series of events helped sentiment in the sector. CNBC reported over the weekend that the deposit outflows from small banks to industry giants like JPMorgan Chase and Wells Fargo has slowed in recent days.
Also, Bloomberg News reported that U.S. authorities were considering expanding an emergency lending program for banks, which could give First Republic more time to shore up its liquidity. First Republic ended last week down 46.3% as investors contemplated whether the plan from a group of banks to deposit $30 billion would be enough to bolster its balance sheet.
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Plan A: Short if market failed to support above 3959. Targets are 3942 and 3937.
Plan B: Long if market supported firm above 3959. Targets are 3969 and 3988.
E-Mini Nasdaq
But technology shares fell as an increase in interest rates dampened hopes of a better outlook for growth stocks. Alphabet slid 2.8%, while Meta slipped 1.5%.
Wall Street was coming off a winning week despite volatility related to the Federal Reserve’s latest interest rate hike and the ongoing bank crisis. Despite the recent turmoil, the S&P 500 is on track to finish March flat and the first quarter ending on Friday with an increase of more than 3%.
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Plan A: Short if market failed to support above 12697. Targets are 12666 and 126628.
Plan B: Long if market retraced but supported firm above 12697. Targets are 12725 and 12759.
HSI
Asia-Pacific markets were mixed on Monday as investors continue to assess the impact of the banking troubles in the U.S and Europe. Deutsche Bank ended the week seeing a selloff of its U.S.-listed shares, after the German lender’s credit default swaps jumped, adding onto lingering fears of contagion from turmoil seen in banking sector.
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Plan A: Remain long if the market stays above 19531. Targets are 19844 and 20000.
Plan B: Consider short only if the market stays below 19531. Targets are 19375 and 19219.
WTI Crude
crude oil closed up more than 5% on Monday as worries over a spreading US banking crises ebbed as buyer emerged for the failed Silicon Valley Bank, while a dispute over oil exports from Iraq's Kurdistan region halted 450,000 barrels per day of shipments.
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Plan A: Remain long as long as oil price stays above 69.53. Targets are 73.44 and 74.22.
Plan B: Consider short only if oil price stays below 69.53. Targets are 68.75 and 67.19.
Gold
Gold prices fell more than 1% on Monday as worries over a crisis in the banking sector subsided, prompting investors to scale back safe-haven trades in favour of riskier assets like equities and crude oil.
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Plan A: Remain short as long as gold price stays below 1968.8. Targets are 1945.3 and 1937.5.
Plan B: Attempts long only if gold price stays above 1968.8. Targets are 1976.6 and 1984.4.
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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