WTI Crude, Gold, HSI, Dow, S&P 500 and Nasdaq
E-Mini Dow
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Stocks closed along the flatline on Tuesday as traders weighed higher rates, possible stimulus and political turmoil.
The S&P 500 rose marginally to 3,801.19. Losses from major tech companies kept Tuesday’s moves in check.
The benchmark 10-year note yield briefly traded at 1.187%, its highest level since March, before easing back to 1.13%. The 30-year bond rate climbed to 1.88%, and also reached a March 2020 high.
However, higher rates could make it more expensive for tech companies — which have been the market leaders throughout the pandemic — to keep growing their businesses through additional debt issuance.
The S&P 500′s forward price-to-earnings ratio was at 22.7, near its highest level since 2000. DoubleLine Capital CEO Jeffrey Gundlach pointed out on Monday that stock valuations are high relative to historical standards, and are being underpinned solely by stimulus measures from the Federal Reserve.
To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for January subscription.Plan A : Short if market failed to support above 3805. Targets are 3780, 3752 and 3722.
Plan B : Long only if market supported firm above 3805. Targets are 3821, 3838 and 3850.
E-Mini Nasdaq
U.S. stock index futures were modestly higher in overnight trading on Tuesday, after a session that saw stocks alternate between gains and losses.
The Nasdaq Composite ended the day up 0.3% at 13,0720.43. Facebook fell 2.2%, and Alphabet slid 1.1%. Microsoft and Apple also lost more than 1%.
Several social media companies have suspended or banned Trump from their platforms. In some cases, this has put pressure on their stocks. Twitter fell 2.4% on Tuesday, and is down 8.6% this week. Facebook has lost 6.2% week to date.
Expectations for additional fiscal stimulus is one of the reasons behind the steady move higher in yields. President-elect Joe Biden is expected to release details on his economic plan on Thursday.
Following Tuesday’s muted session, the major averages remain lower for the week after Monday’s slide. The Nasdaq Composite is the relative underperformer, down roughly 1% over the last two sessions.
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Plan A : Remain buy as long as market trades firmly above 27940. Targets are 28396 and 28555.
Plan B : Consider short if market surges but fails to breach above 28396. Targets are 28140 and 27940.
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Plan A : Remain buy as long as oil price stays firm above 52.8. Targets are 53.6 and 54.2
Plan B : Consider short if oil price surges but fails to breach above 53.6. Targets are 52.8 and 51.5
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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.
