WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
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E-Mini Dow
U.S. stocks jumped on Monday after a deal to rescue Credit Suisse and central bank efforts to bolster confidence in the financial system relieved investors, while participants also weighed the likelihood of a pause in rate hikes from the Federal Reserve this week.
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Plan A: Remain long as long as market trades above 32031. Targets are 32422 and 32617.
Plan B: Consider short if market stays below 32031. Targets are 31934 and 31738.
E-Mini S&P 500
Stocks closed higher on Monday as traders grew hopeful that a crisis in the banking sector may be easing. The gains followed a forced takeover of Credit Suisse by UBS engineered by the Swiss government.
The instability in the financial sector over the past two weeks raises the stakes for the Federal Reserve’s interest rate decision on Wednesday. As of Monday, there was about a 73% chance of a quarter-point increase by the Fed, according to CME Group’s FedWatch tool. The other roughly 27% is in the no-hike camp, anticipating that Chairman Jerome Powell may start to ease his aggressive tightening campaign that began in March 2022, in the face of the emerging financial contagion.
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Plan A: Short if market failed to support above 3958. Targets are 3942 and 3933.
Plan B: Long if market supported firm above 3958. Targets are 3967 and 3988.
E-Mini Nasdaq
Regional banks rose on Monday, rebounding from big losses in the past week. Wall Street expects more action may be needed to restore confidence in the banking system after U.S. regulators backstopped SVB’s uninsured deposits and offered new funding for troubled banks.
The SPDR Regional Banking ETF (KRE) gained more than 1% after tumbling 14% last week. PacWest, First Citizens and Fifth Third Bancorp were among the major gainers. The ETF rose 5% at one point during the trading session, but saw some of its gains reverse as First Republic shares fell 47%.
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Plan A: Short if market failed to support above 12426. Targets are 12390 and 12368.
Plan B: Long if market retraced but supported firm above 12426. Targets are 12457 and 12493.
HSI
The Hang Seng index led losses in the region, falling 2.74% and dragged down by health-care stocks. The Hang Seng Tech index was 2.66% lower.
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Plan A: Remain short if the market stays below 19375. Targets are 19063 and 18906.
Plan B: Consider long only if the market stays above 19375. Targets are 19531 and 19688.
WTI Crude
WTI crude futures rebounded 1.4% to $67.6 a barrel on Monday, after falling as much as 4.1% early in the session to levels not seen since late 2021, on hopes that UBS Group AG's takeover of Credit Suisse Group would avert a wider banking crisis and as investors weighed the likelihood of a pause in interest rate hikes from the Federal Reserve this week.
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Plan A: Remain long as long as oil price stays above 65.63. Targets are 68.75 and 70.31.
Plan B: Consider short only if oil price stays above 65.63. Targets are 64.06 and 62.50.
Gold
Gold prices retreated from their highest level in a year in volatile trading on Monday, as share markets and Treasury yields bounced back on central banks' efforts to shore up confidence in the financial sector.
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Plan A: Remain short as long as gold price stays below 2000. Targets are 1968.8 and 1953.1.
Plan B: Attempts long only if gold price stays above 2000. Targets are 2015.6 and 2031.3.
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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