Monday, March 15, 2021

16 March 2021 Foreign

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


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E-Mini Dow


The S&P 500 and Dow closed at a record highs on Monday, as investors eyed an economic recovery from the coronavirus and awaited cues from the Federal Reserve this week amid caution over rising borrowing costs.

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Plan A : Remain buy as long as market trades firmly above 32408. Targets are 32910 and 32994.

Plan B : Consider short only market surges but fails to breach above 32994. Targets are 32813 and 32408.



E-Mini S&P 500

The Dow and S&P 500 both hit new records on Monday as investors grew optimistic about the economic reopening from the pandemic.

The S&P 500 added 0.65% to 3,968.94, a fresh all-time high and its fifth straight day of gains. 

Stocks hit their lows of the day as Italy joined France, Germany, Ireland and the Netherlands in suspending the use of the coronavirus vaccine developed by AstraZeneca and the University of Oxford over blood clot concerns. But stocks eventually overcame that worry.

The 10-year Treasury yield was trading around 1.6% on Monday, after hitting its highest level in more than a year on Friday. The jump in bond yields has challenged growth stocks in recent weeks and sent investors into cyclical pockets of the market.

Investors will be gearing up for Wednesday when the Federal Reserve will deliver its decision on interest rates. The central bank is expected to acknowledge much better growth in the economy. Bond pros are also watching to see whether Fed officials will tweak their interest rate outlook, which now does not include any rate hikes through 2023.

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Plan A : Short if market failed to support above 3955. Targets are 3930, 3906 and 3879.

Plan B : Long if market supported firm above 3955. Targets are 3974, 3989 and 4005.



E-Mini Nasdaq

U.S. stock index futures traded mixed early Tuesday, after the Dow and S&P closed at record highs amid optimism over the economic reopening.

The Nasdaq Composite gained 1.1% to 13,459.71.

The Nasdaq Composite was the relative outperformer on Monday, gaining 1.05% and clawing back some of its recent losses.

Shares of Big Tech companies and economic reopening plays like airlines led the major averages higher as the coronavirus vaccine rollout continues.

On Tuesday Lennar and CrowdStrike are among the companies set to report earnings. February retail sales data is also set to be released, in addition to builder sentiment data from the National Association of Home Builders.

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Plan A : Long if market supported firm above 13107. Targets are 13137, 13170 and 13201.

Plan B : Short if market failed to support above 13107. Targets are 13068, 13029 and 12991.



HSI

Hong Kong stocks ended marginally higher on Monday, underpinned by heavyweight financial firms, after China posted better than expected factory activity data.

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Plan A : Attempt buy if market trades firmly above 28639. Targets are 28912 and 29249.

Plan B : Consider short only if market surges but fails to breach above 29249. Targets are 29061 and 28912.



WTI Crude

Oil prices slipped on Monday after Brent hit $70 a barrel as data showed an accelerating economic recovery in China, which was offset by fears of inflation.

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Plan A : Remain buy as long as oil price trades firmly above 64.6. Targets are 65.6 and 66.4

Plan B : Consider short only if oil price surges but fails to breach above 65.6. Targets are 64.6 and 64.1.



Gold

Gold prices rose on Monday as U.S. Treasury yields backed off recent highs and investors awaited cues from the Federal Reserve's policy meeting.

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Plan A : Remain buy as long as market trades firmly above 1714.2. Targets are 1733 and 1752.

Plan B : Consider short only if gold price surges but fails to breach above 1733. Targets are 1728 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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