Tuesday, March 30, 2021

31 March 2021 Foreign

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


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E-Mini Dow


U.S. stocks ended down slightly on Tuesday, with investors selling tech-related growth shares after U.S. Treasury yields hit a 14-month high.

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Plan A : Remain buy as long as market trades firmly above 32945. Targets are 33100 and 33252. 

Plan B : Consider short if market fails to hold above 32945. Targets are 32722 and 32565.



E-Mini S&P 500

U.S. stocks fell Tuesday as major technology shares came under pressure again after the 10-year Treasury yield touched its highest level since January 2020.

The S&P 500 slid 0.3% to 3,958.55, led by losses in consumer staples and technology. 

The 10-year Treasury yield climbed 6 basis points to top 1.77% earlier Tuesday, hitting its highest level in 14 months as vaccine rollouts and expected infrastructure spending boosted the outlook for a broad economic recovery and rising inflation. The benchmark rate later turned flat at 1.72%.

Investors digested a reading on consumer confidence that far exceeded expectations. The Conference Board’s Consumer Confidence Index surged in March to 109.7, its highest reading in a year. Economists polled by Dow Jones expected the index to rise to 96.8 from 90.4 in February.

Despite the recent volatility, the Dow and S&P 500 are firmly higher for the month, gaining 6.9% and 3.9%, respectively.

President Joe Biden is expected to provide details about his infrastructure plan when he travels to Pittsburgh on Wednesday. The spending package could cost north of $3 trillion.

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Plan A : Short if market failed to support above 3928. Targets are 3909, 3877 and 3850.

Plan B : Long if market retraced but supported firm above 3928. Targets are 3943, 3959 and 3977.



E-Mini Nasdaq

U.S. stock futures were flat in early morning trading on Wednesday after the Dow Jones Industrial Average slipped from its record level amid fears about rising interest rates.

The Nasdaq Composite dipped about 0.1% as Facebook, Amazon, Apple, Netflix and Microsoft declined. Big Tech stocks are especially sensitive to rising rates as they depend on borrowing money cheaply to invest in their future growth.

Investors are awaiting details on President Joe Biden’s infrastructure plan on Wednesday. The spending package could cost more than of $3 trillion.

Private payroll data from ADP will be released at 9:15 a.m. on Wednesday morning. Economists polled by Dow Jones are expecting 525,000 private jobs were added in March, well above the 171,000 added in February.

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Plan A : Short if market failed to support above 12934. Targets are 12899, 12850 and 12812.

Plan B : Long if market supported firm above 12934. Targets are 12965, 12996 and 13028.


HSI

Hong Kong stocks closed higher on Tuesday, in line with other Asian markets, as investors remained focused on the global vaccination program and shook off worries about a hedge fund default that hit international banking stocks overnight.

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Plan A : Remain buy as long as market stays firm above 28425. Targets are 28593 and 28639.

Plan B : Consider short if market fails to hold above 28425. Targets are 28366 and 28258.



WTI Crude

Oil prices slid on Tuesday as the Suez Canal reopened to traffic and the dollar rallied.

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Plan A : Attempt buy if oil price trades firmly above 60.2. Targets are 61.1 and 61.7

Plan B : Consider short only if oil price surges but fails to breach above 61.1. Targets are 60.6 and 59.9



Gold

Gold prices slipped nearly 2% on Tuesday as a firmer dollar, higher Treasury yields and hopes for a faster U.S. economic recovery dampened demand for safe-haven bullion.

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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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