Wednesday, March 31, 2021

01 April 2021 Foreign

         WTI Crude, Gold, HSI, Dow,          S&P 500 and Nasdaq


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E-Mini Dow


The Dow fell 85-points while S&P 500 and Nasdaq rose on Wednesday, boosted by gains in technology shares, and the three major Wall Street indexes registered their fourth straight quarterly rise as investors positioned themselves for President Joe Biden's massive infrastructure plan.

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Plan A : Consider buy if market trades firmly above 32945. Targets are 33100 and 33252. 

Plan B : Attempt short if market stays trading below 32945. Targets are 32722 and 32565.



E-Mini S&P 500

U.S. stocks rose on Wednesday, closing out March and the first quarter on a high note as investors rotated back into high-growth tech while weighing President Joe Biden’s big infrastructure spending plan.

The S&P 500 ended the session 0.4% higher at 3,972.89 after jumping 0.9% to hit a fresh intraday record high.The 

Classis cyclical sectors including energy, materials, financials and industrials all registered losses on Wednesday, while the S&P 500 tech sector outperformed with a 1.5% gain.

Private payrolls in March expanded at the fastest pace since September 2020 with companies adding 517,000 workers for the month, according to a report Wednesday from payroll processing firm ADP. It was a healthy spike from the 176,000 in February though just below the 525,000 Dow Jones estimate.

Investors await the key March jobs report on Friday to assess the state of the labor-market recovery. Economists expect 630,000 jobs were added in March, and the unemployment rate fell to 6% from 6.2%, according to Dow Jones.

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Plan A : Short only if market failed to support above 3939. Targets are 3911, 3890 and 3868.

Plan B : Long if market retraced but supported firm above 3939. Targets are 3951, 3972 and 3990.



E-Mini Nasdaq

U.S. stock futures were higher in early Thursday morning as Wall Street looked to build on a solid March following the rollout of President Joe Biden’s infrastructure plan.

The tech-heavy Nasdaq Composite popped 1.5% to 13,246.87 as Apple, Microsoft and Facebook all gained at least 1.6%. Tesla popped more than 5%. 

The Nasdaq was the relative underperformer as technology stocks are especially sensitive to rising rates because they depend on borrowing money cheaply to invest in their future growth. For March, the tech-heavy benchmark gained 0.4%. For the quarter, it gained 2.8%.

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Plan A : Long if market retraced but supported firm above 13068. Targets are 13097, 13131 and 13163.

Plan B : Short only if market failed to support above 13068. Targets are 13030, 12980 and 12949.



HSI

Hong Kong shares fell on Wednesday, marking their first monthly drop in six, as a slew of weak earnings results and disappointing profit expectations dragged down property and material stocks.

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Plan A : Remain short as long as market stays trading below 28510. Targets are 28366 and 28029.

Plan B : Consider buy only if market able to hold above 28366 and rebound. Targets are 28500 and 28639.



WTI Crude

Oil prices fell on Wednesday on concerns about the market's recovery after OPEC and its allies lowered their 2021 demand growth forecast, although strong Chinese factory activities lent some support.

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Plan A : Consider buy if market supported above 59.4 and rebound. Targets are 59.9 and 60.6.

Plan B : Remain short as long as oil price stays below 59.9. Targets are 59.4 and 58.8.



Gold

Gold gained over 1% on Wednesday, helped by the dollar's pullback, but elevated U.S. bond yields still put the metal on course for its biggest quarterly decline in more than four years.

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Plan A : Remain short as long as gold price stays below 1714.2. Targets are 1703 and 1696.

Plan B : Consider buy only if gold price able to hold above 1676 and rebound. Targets are 1684 and 1714.2.



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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