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US Market Technicals Ahead (29 Mar – 2 Apr 2021)Focus on the upcoming week will be on US employment report that due to release on Good Day (a market holiday), with forecast slated on signs of a further gradual job recovery. Market will also be watching on President Joe Biden’s infrastructure plan, which he is expected to unveil in Pittsburgh on Wednesday, along with OPEC+ meeting which could offer guidance into the coalition’s production plan from May. Continued push and pull of the market rotation that favors cyclicals over growth and tech stocks is expected to continue into the next quarter. Here’s what you need to know to start your week. S&P500 (US Market) The benchmark index ($SPX) maintained its resilience by closing +1.67% (+65.3 points) for the week. It is important to note that $SPX averted from further losses on Thursday, after a technical rebound at 3,860 level which was highlighted last week. With $SPX remaining above its 20DMA & 50DMA and at a higher low trend formation, there are substantial traction for the index to breach 4,000 all time high level this week. The immediate support to watch for $SPX remains at 3,860 level, a break on the pivoted level from recent Thursday. Resistance to watch for $SPX is at 3,989 level, a continuation to break its all time high level. US Employment Report (March) The March jobs report is scheduled for a morning when the stock market is closed for the Good Friday holiday, but bonds will trade half a day, ending at noon. The labor market is expected to show signs of recovery following the approval of President Biden’s relief package and as several states ease coronavirus-induced restrictions amid the rapid pace of vaccination. Infrastructure Plan President Joe Biden is expected to unveil details of his $3 trillion to $4 trillion infrastructure plan on Wednesday in Pittsburgh, but strategists say it is too soon to say what form the plan could take or how large it will be in its final form. The plan is expected to span multiple years, and Democrats are expected to seek tax hikes to pay for it. Rotation The rotation into cyclicals and value stocks is expected to continue into the next quarter. For the first quarter so far, energy and financials were the best performers, up about 33% and 16.5% respectively. Tech was up 1.7%, but it remains a better performer than utilities and consumer staples.
ULong
by jfsrevg
Long on S&P 500During the last few days, both Cryptocurrency prices and US equity prices has been shaky and have dropped from their ATH (All-time-high). Reason being that there was uncertainty in leading up to Federal Reserve Chair Jerome Powell speech. Many investors were speculating that interest rate might increase together with treasury yields because inflation of 2% is being met by the economy. So how does interest rate affects prices of cryptocurrencies and US stocks? If interest rates increases, US market will suffer because the cost of borrowing for big companies increases. On top of that, the returns on risk free investment, ie deposits with the banks would increases, therefore there will be an outflow of investments from cryptocurrencies and equities into these safer fixed income assets with the government and banks since interest rate increases and returns are slightly more attractive. However, Powell announced yesterday (12 hours ago) that economy still needs Fed support and pushes back on inflation worries. Federal Reserve Chair Jerome Powell on Tuesday pushed back on suggestions that U.S. central bank support for the economy risked inflating a dangerous asset bubble, insisting the support was still needed and that investors were responding mostly to expectations for a successful recovery. Therefore, i believe this year will still rally for both cryptocurrency and US market and we will see a rebound from this dip soon.
SP:SPXLong
by Trader_hao
US Market Technicals Ahead (22 Feb – 26 Feb 2021)The US is releasing the second estimate of Q4 GDP, alongside durable goods orders, personal income and outlays, and PCE price index. Elsewhere, the Eurozone business survey and the UK jobs report will be keenly watched Now, with rising yields, the chances the Fed will begin lowering its asset purchases, reducing liquidity, are starting to increase. Investors are beginning to worry that rising yields could provide competition to stocks. Here’s what you need to know to start your week. S&P500 (US Market) The S&P 500 Index ($SPX) was the only major US benchmark that closed in the red, (-0.2%) on Friday. It erased the earlier gain at the start of February with -0.94% for the week. The imminent correction is a technical play out of the Bearish Divergence pattern that was highlighted over the last two weeks. With current implied volatility of $SPX remaining low in the week of correction, the technical structure of $SPX uptrend channel remains intact. Any signs of further weakness in this rally will require the first break of immediate classical support at 3,870.
ULong
by jfsrevg
S&P 500 Index (SPX) - Rally could end here Hey everyone, here's the analysis on SPX. Follow us, leave a like and comment on stock ideas you look forward to seeing next! Analysis: R1 zone is a strong resistance and breakout zone and price could drop to our S1 zone at 2541.5. If this level does not hold, it could drop lower to our next support zone, as illustrated by the black lines. Disclaimer: There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. Trading BEAN and all individuals affiliated with this site assume no responsibilities for your trading and investment results. All contents featured here are solely for educational purposes and ARE NOT investment or trading advices. Please do your own due diligence and trade at your own risk.
TVC:SPXShort
by TradingBean