WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
Wall Street's most closely watched index of market anxiety jumped on Friday and options volume on the index soared to a near 4 year high as a growing crisis at SVB Financial weighed on stocks.
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Plan A: Remain short as long as market trades below 32813. Targets are 32031 and 31641.
Plan B: Consider long if market stays above 32813. Targets are 33203 and 33594.
E-Mini S&P 500
Stock futures jumped Sunday evening after regulators announced a plan to backstop all the depositors in failed Silicon Valley Bank and make additional funding available for other banks.
On Friday Silicon Valley Bank was taken over by regulators after massive withdrawals a day earlier created a bank run.
Elsewhere, investors are watching various economic reports this week. Tuesday’s consumer price index report on Tuesday is the last major inflation data release ahead of the Fed’s next meeting, ending March 22. February retail sales and the producer price index are also on deck.
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Plan A: Short if market failed to support above 3887. Targets are 3872 and 3860.
Plan B: Long if market supported firm above 3887. Targets are 3899 and 3919.
E-Mini Nasdaq
All Silicon Valley Bank depositors will have access to their money starting Monday, according to a joint statement from the Treasury Department, Federal Reserve and the FDIC.
The Federal Reserve also said it is creating a new Bank Term Funding Program aimed at safeguarding deposits. The facility will offer loans of up to one year to banks, saving associations, credit unions and other institutions. Along with the facility, the Fed said it will ease conditions at its discount window, which will use the same conditions as the BTFP.
The major indexes are coming off a losing week after the collapse of SVB sent shockwaves through the stock market. The Dow on Friday dropped 345 points, or 1.07%. The S&P 500 shed 1.45% and the Nasdaq Composite fell 1.76%. All of the major averages posted weekly losses, with the Dow finishing its worst week since June.
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Plan A: Short if market failed to support above 11936. Targets are 11902 and 11872.
Plan B: Long if market retraced but supported firm above 11936. Targets are 11966 and 11993.
HSI
Stocks in the Asia-Pacific dipped on Friday, as investors await the closely watched February non-farm payrolls report from the U.S. that could further determine the direction on the Federal Reserve’s rate hikes ahead.
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Plan A: Remain short if the market stays below 20000. Targets are 19063 and 18750.
Plan B: Consider long only if the market stays above 20000. Targets are 20313 and 20625.
WTI Crude
crude oil closed higher on Friday as the dollar sold off after another larger than expected rise in US employment last month, while an unexpected rapprochement between Saudi Arabia and Iran looks to lower Middle East tensions.
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Plan A: Remain long as long as oil price stays above 75.78. Targets are 77.34 and 78.91.
Plan B: Consider short only if oil price stays below 75.78. Targets are 75 and 74.22.
Gold
Gold prices jumped nearly 2% on Friday, driven by a slide in U.S. Treasury yields and broader financial markets as worries over a fallout in the banking sector eclipsed a strong U.S. jobs report and drove safe-haven flows into bullion.
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Plan A: Remain long as long as gold price stays above 1843.8. Targets are 1898.4 and 1914.
Plan B: Attempts short only if gold price stays below 1843.8. Targets are 1828.1 and 1812.5.
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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