WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
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Plan A : Remain buy as long as market trades firmly above 32046. Targets are 32365 and 32408.
Plan B : Consider short only market surges but fails to breach above 32408. Targets are 32256 and 32046.
E-Mini S&P 500
The Dow Jones Industrial Average soared more than 400 points to a record after falling bond yields and a new stimulus package spurred investors to snap up stocks that will benefit from a faster recovery from the pandemic.
The S&P 500 added 0.6% to 3,898.81, led by energy and financials.
Cyclical stocks, or those most sensitive to an economic rebound, led the gains, resuming the trend seen in the past few weeks. The S&P 500 energy sector jumped 2.6%, bringing its 2021 gains to more than 39%. Industrials, materials, and financials all advanced more than 1%.
The Labor Department said consumer prices increased 0.4% in February, matching expectations from economists polled by Dow Jones. The Consumer Price Index gained 1.7% on a year-over-year basis, also in line with estimates.
The Dow Jones Industrial Average soared more than 400 points to a record after falling bond yields and a new stimulus package spurred investors to snap up stocks that will benefit from a faster recovery from the pandemic.
The S&P 500 added 0.6% to 3,898.81, led by energy and financials.
Cyclical stocks, or those most sensitive to an economic rebound, led the gains, resuming the trend seen in the past few weeks. The S&P 500 energy sector jumped 2.6%, bringing its 2021 gains to more than 39%. Industrials, materials, and financials all advanced more than 1%.
The Labor Department said consumer prices increased 0.4% in February, matching expectations from economists polled by Dow Jones. The Consumer Price Index gained 1.7% on a year-over-year basis, also in line with estimates.
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Plan A : Long if market supported firm above 3915. Targets are 3931, 3948 and 3963.
Plan B : Short if market failed to support above 3915. Targets are 3891, 3867 and 3839.
E-Mini Nasdaq
U.S. stocks rose on Tuesday after a decline in bond yields caused investors to rotate back into the beaten-up technology sector.
The Nasdaq Composite closed less than 0.1% lower at 13,068.83 after gaining as much as 1.6% earlier in the day. The tech-heavy benchmark enjoyed a 3.7% rally in the previous session for its best day since November.
Technology shares rebounded from steep losses as bond yields stabilized. The 10-year Treasury yield fell more than 5 basis points to 1.54%. The benchmark rate traded as high as 1.62% on Monday.
The Nasdaq shed 2.4% in the previous session to close more than 10% below its Feb.12 high and falling into correction territory. High-growth names have been pressured lately as rising rates make their future profits less valuable today, making it hard to justify the stocks’ lofty valuations.
Plan A : Long if market supported firm above 3915. Targets are 3931, 3948 and 3963.
Plan B : Short if market failed to support above 3915. Targets are 3891, 3867 and 3839.
U.S. stocks rose on Tuesday after a decline in bond yields caused investors to rotate back into the beaten-up technology sector.
The Nasdaq Composite closed less than 0.1% lower at 13,068.83 after gaining as much as 1.6% earlier in the day. The tech-heavy benchmark enjoyed a 3.7% rally in the previous session for its best day since November.
Technology shares rebounded from steep losses as bond yields stabilized. The 10-year Treasury yield fell more than 5 basis points to 1.54%. The benchmark rate traded as high as 1.62% on Monday.
The Nasdaq shed 2.4% in the previous session to close more than 10% below its Feb.12 high and falling into correction territory. High-growth names have been pressured lately as rising rates make their future profits less valuable today, making it hard to justify the stocks’ lofty valuations.
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Plan A : Long if market supported firm above 12971. Targets are 13002, 13031 and 13058.
Plan B : Short if market failed to support above 12971. Targets are 12932, 12894 and 12845.
HSI
Hong Kong shares closed higher on Wednesday, led by tech stocks as the Nasdaq index surged overnight on a retreat in U.S. bond yields, though fears of policy tightening in China capped gains.
Plan A : Long if market supported firm above 12971. Targets are 13002, 13031 and 13058.
Plan B : Short if market failed to support above 12971. Targets are 12932, 12894 and 12845.
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Plan A : Remain buy as long as market stays firm above 28757. Targets are 28912 and 29196.
Plan B : Consider short only if market surges but fails to breach above 29249. Targets are 29110 and 28912.
WTI Crude
Oil prices rose on Wednesday despite a large jump in U.S. crude inventories in the aftermath of last month's Texas winter storm. An upbeat forecast for global economic recovery supported prices.
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