Sunday, March 21, 2021

22 March 2021 Foreign

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


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E-Mini Dow


The Nasdaq ended higher on Friday, lifted by Facebook and energy shares, while the S&P 500 and Dow lost ground as U.S. Treasury yields took a break from a recent surge.

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Plan A : Remain buy as long as market trades firmly above 32408. Targets are 32602 and 32994.

Plan B : Consider short only market fails to hold above 32408. Targets are 32046 and 31753.


E-Mini S&P 500

The S&P 500 and the Dow dropped on Friday with banks leading the way after the U.S. Federal Reserve said it would not extend a temporary capital buffer relief put in place to ease a pandemic-driven stress in the funding market.

The S&P 500 bank stocks shed about 3% as the Fed's move means banks will have to resume holding an extra layer of loss-absorbing capital against US Treasuries and central bank deposits from next month.

Yield on US 10-year notes, which has risen sharply in the past seven weeks on growth expectations, hovered near a 14-month peak at US$1.742%.

Optimism over a US$1.9 trillion fiscal package and the Federal Reserve's promise to maintain its ultra-loose policy stance for years has accelerated a shift into economy-linked stocks, powering the S&P 500 and the Dow to record levels this week.


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Plan A : Long if market supported firm above 3898. Targets are 3915, 3931 and 3946.

Plan B : Short if market failed to support above 3898. Targets are 3875, 3844 and 3819.


E-Mini Nasdaq

U.S. stock futures were mixed early Monday morning as Wall Street looked to bounce back from a losing week.

The move in futures comes after the three major indexes lost ground last week. The Nasdaq Composite rose on Friday but still finished the week with a 0.8% loss. However, the Nasdaq is still about 6% below its Feb. 12 all-time closing high as technology and high-growth stocks have lost favor, with their valuations looking expensive with a jump in yields.

Optimism about the markets and the path of the U.S. economy has been growing as vaccines are rolling out across the country, with the pace of Americans getting shots climbing in recent weeks. 

On the economic data front, investors will get another look at the housing market on Monday when the National Association of Realtors releases existing home sales for February. Economists surveyed by Dow Jones are projecting a decline of 2.8%.


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Plan A : Long if market supported firm above 13053. Targets are 13089, 13123 and 13155.

Plan B : Short if market failed to support above 13053. Targets are 13015, 12975 and 12929.



HSI

Hong Kong stocks ended lower on Friday, with energy shares leading the decline, as a spike on U.S. 10-year yields overnight and a rough start to China-U.S. bilateral talks weighed on investor sentiment.

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Plan A : Remain sell as long as market stays below 29100. Targets are 28749 and 28639.

Plan B : Consider long only if market able to support above 28639 and rebound. Targets are 28749 and 29100.



WTI Crude

Oil prices sunk for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic.

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Plan A : Remain sell as long as oil price trades below 61.9. Targets are 60.6 and 59.9. 

Plan B : Consider long only if oil price able to trade firmly above 60.6. Targets are 61.7 and 62.3.



Gold

Gold rose on Friday, on track for a second weekly gain as U.S. Treasury yields dipped and dollar eased off session highs.

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Plan A : Remain buy as long as market trades firmly above 1714.2. Targets are 1752.4 and 1776.

Plan B : Consider short only if gold price surges but fails to breach above 1752.4. 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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