Monday, March 1, 2021

02 March 2021 Foreign

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


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E-Mini Dow


Global equities markets rose and the S&P 500 on Monday had its best day since June 5, with investors taking lower U.S. bond yields in stride on optimism over the $1.9 trillion coronavirus relief bill and distribution of Johnson & Johnson's newly authorized VOCID-19 vaccine.

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Plan A : Remain buy as long as market trades firmly above 31388. Targets are 31640 and 31750.

Plan B : Consider short only if market surges but fails to breach above 31640. Targets are 31520 and 31388.



E-Mini S&P 500

U.S. stocks jumped sharply on Monday in a broad-based rally as stocks tied to the economic reopening jumped on vaccine optimism, while tech names rebounded from steep losses last week.

The S&P 500 gained 2.4% to 3,901.82 as all 11 sectors registered gains, posting its best day since June 5. 

Fewer than 40 stocks in the S&P 500 posted losses on Monday, the first trading session of March. At the Big Board, advancers outnumbered decliners by four-to-one. Energy and financials, which are popular cyclical plays, jumped more than 2.5% each amid optimism on vaccines. Meanwhile, high-growth tech shares outperformed as rates stabilized. Apple popped 5.4% and Tesla rose 6.4%.

The 10-year U.S. Treasury note yield dipped to a session low of 1.41% Monday before drifting back near the flatline. Yields appeared to be stable at these levels and the 10-year rate was off its high of 1.6% last week, which encouraged investors that the rapid rise in rates was at least slowing.

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Plan A : Short if market failed to support above 3869. Targets are 3845, 3817 and 3790.

Plan B : Long if market supported firm above 3869. Targets are 3885, 3901 and 3918.



E-Mini Nasdaq

Futures contracts tied to the major U.S. stock indexes traded lower in extended trading Monday evening after the S&P 500 rallied more than 2% during regular trading hours for its best day since June.

The tech-heavy Nasdaq Composite, which shed 4.9% last week, also popped 3% to 13,588.83.

Economically sensitive, cyclical sectors like energy and financials continued to outperform the broader market amid optimism about vaccines and economic resurgence. Meanwhile, a pause in the market for U.S. debt allowed high-growth tech names to recoup a sizable portion of their recent losses.

Investors on Tuesday will pore over comments made by both Securities and Exchange Commission Chair nominee Gary Gensler and Federal Reserve Governor Lael Brainard.

Gensler will testify before the Senate Banking Committee at 10 a.m. ET while Brainard will deliver a speech entitled “U.S. Economic Outlook and Monetary Policy” via a virtual meeting hosted by the Council on Foreign Relations.

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Plan A : Long if market supported firm above 13181. Targets are 13212, 13245 and 13280.

Plan B : Short if market failed to support above 13181. Targets are 13140, 13102 and 13065.



HSI

Hong Kong shares rose on Monday, rebounding from the previous week's slump, as a semblance of calm in bond markets and optimism over progress in the U.S. stimulus package helped global equities to rally.

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Plan A : Remain buy as long as market trades firmly above 29177. Targets are 29353 and 29689.

Plan B : Consider short only if market surges but fails to breach above 29689. Targets are 29530 and 29353.



WTI Crude

Oil prices were up on Monday as fears that Chinese oil crude consumption is slowing overshadowed rising optimism about COVID-19 vaccinations and a U.S. economic stimulus package increasing fuel demand.

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Plan A : Attempt buy only if oil price supported firmly above 59.4 and rebound. Targets are 60.3 and 61.3.

Plan B : Consider selling only if oil price consistently trades below 61.3. Targets are 60.3 and 59.4.    


Gold

Gold prices gave up gains of 1% on Monday as a stronger dollar and increased risk appetite among investors eclipsed support from a retreat in U.S. Treasury yields.

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Plan A : Consider long only if gold price holds above 1714.2 and rebound. Targets are 1740 and 1752.4.

Plan B : Consider short if market rebounds but fails to breach above 1752.4. Targets are 1731.5 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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