Summary
The Dow Future has climbed 226 points to 33263. The US Dollar Index moved higher by 0.019 points to 93.031. Gold has climbed 2.15 dollars to 1726.80. Silver is higher 0.0945 dollars to 24.9650. The Dow Industrials trended higher 171.66 points, at 33153.21, while the S&P 500 moved up 46.98 points, last seen at 4019.87. The Nasdaq Composite trended higher 233.24 points to 13480.11. Streaming charts of these markets are available at MarketClub
Key Events for Monday
7:30 AM ET. March Challenger Job-Cut Report Job Cuts, M/M% (previous -57%) 8:30 AM ET. Unemployment Insurance Weekly Claims Report - Initial Claims Jobless Claims (expected 670K; previous 684K) Jobless Claims, Net Chg (previous -97K) Continuing Claims (previous 3870000) Continuing Claims, Net Chg (previous -264K) 8:30 AM ET. U.S. Weekly Export Sales Corn (Metric Tons) (previous 4626.5K) Soybeans (Metric Tons) (previous 166.8K) Wheat (Metric Tons) (previous 414.1K) 9:00 AM ET. IMF Fiscal Monitor analytical chapter launch (virtual) 9:45 AM ET. Bloomberg Consumer Comfort Index 9:45 AM ET. March US Manufacturing PMI PMI, Mfg (expected 59.2; previous 58.6) 10:00 AM ET. March ISM Report On Business Manufacturing PMI Manufacturing PMI (expected 61.6; previous 60.8) Prices Idx (previous 86.0) Employment Idx (previous 54.4) Inventories (previous 49.7) New Orders Idx (previous 64.8) Production Idx (previous 63.2) 10:00 AM ET. February Construction Spending - Construction Put in Place New Construction (expected -1.1%; previous +1.7%) Residential Construction 10:30 AM ET. EIA Weekly Natural Gas Storage Report Working Gas In Storage (Cbf) (previous 1746B) Working Gas In Storage, Net Chg (Cbf) (previous -36B) 11:00 AM ET. March Global Manufacturing PMI PMI, Mfg (previous 53.9) 4:00 PM ET. March Domestic Auto Industry Sales 4:30 PM ET. Foreign Central Bank Holdings 4:30 PM ET. Federal Discount Window 8:30 AM ET. March U.S. Employment Report Non-Farm Payrolls (expected +630K; previous +379K) Unemployment Rate (expected 6.0%; previous 6.2%) Avg Hourly Earnings (USD) (previous 30.01) Avg Hourly Earnings-Net Chg (USD) (previous +0.07) Avg Hourly Earnings, M/M% (expected +0.2%; previous +0.23%) Avg Hourly Earnings, Y/Y% (expected +4.6%; previous +5.26%) Overall Workweek (previous 34.6) Overall Workweek Net Chg (previous -0.3) Government Payrolls (previous -86K) Private Payroll (previous +465K) Participation Rate (previous 61.4%) Non-Farm Payrolls Bench Net Chg N/A U.S. stock markets closed on Good Friday N/A Marianas: Good 9:00 AM ET. G24 Ministers and Governors Meeting (virtual) 9:45 AM ET. March ISM-NY Report on Business Business Index (previous 35.5) 9:45 AM ET. March US Services PMI PMI, Services (previous 59.8) 10:00 AM ET. March ISM Report On Business Services PMI Non-Mfg Composite Idx (previous 55.3) Non-Mfg Business Idx (previous 55.5) Prices Idx (previous 71.8) Employment Idx (previous 52.7) New Orders Idx (previous 51.9) 10:00 AM ET. March Employment Trends Index ETI (previous 101.01) ETI, Y/Y% 10:00 AM ET. February Manufacturers' Shipments, Inventories & Orders (M3) Total Orders, M/M% (previous +2.6%) Orders, Ex-Defense, M/M% (previous +2.1%) Orders, Ex-Transport, M/M% (previous +1.7%) Durable Goods, M/M% Durable Goods, 7:45 AM ET. Weekly Chain Store Sales Index 8:55 AM ET. Johnson Redbook Retail Sales Index Ret Sales Mo-to-Date, M/M% Ret Sales Mo-to-Date, Y/Y% Latest Wk, Y/Y% 10:00 AM ET. February Job Openings & Labor Turnover Survey 10:00 AM ET. April IBD/TIPP Economic Optimism Index Economic Optimism Idx (previous 55.4) 6-Mo Economic Outlook (previous 53.2) 4:30 AM ET. API Weekly Statistical Bulletin Crude Stocks, Net Chg (Bbls) Gasoline Stocks, Net Chg (Bbls) Distillate Stocks, Net Chg (Bbls) N/A IMF World Economic Outlook forecast chapters published N/A IMF Global Financial Stability Report main chapters published
CURRENCIES:http://quotes.ino.com/ex changes/?c=currencies" CURRENCIES: The June Euro currency closed up 49 points at 1.1791 today. Prices closed nearer the session high today and saw short covering after hitting a nearly five-month low on Wednesday. The bears have the solid overall near-term technical advantage. The June Japanese yen closed up 125 points at .90480 today. Prices closed near the session igh today on short covering after hitting a 2.5-year low Wednesday. Bears have the solid overall near-term technical advantage. Prices are in a three-month-old downtrend on the daily bar chart. The June Swiss franc closed up 51 points at 1.0646 today. Prices closed near the session high today on short covering after hitting a nine-month low early on today. The Swissy bears have the solid overall near-term technical advantage. Prices are in a three-month-old downtrend on the daily bar chart. The June Canadian dollar closed up 2 points at .7959 today. Prices closed nearer the session high today. The bulls have the overall near-term technical advantage. Prices are in a two-month-old uptrend on the daily bar chart. The June British pound closed up 41 points at 1.3822 today. Prices closed nearer the session high today and saw more short covering. The bears have the slight overall near-term technical advantage. Prices have been trending down for five weeks. The June U.S. dollar index closed down 0.291 at 92.945 today. Prices closed nearer the session low today on a corrective pullback after hitting a nearly five-month high Wednesday. The bulls have the firm overall near-term technical advantage.
ENERGIES: May Nymex crude oil closed up $1.30 at $60.47 today. Prices closed nearer the session high today. The bulls have the slight overall near-term technical advantage. However, prices are still in a three-week-old downtrend on the daily bar chart. May heating oil closed up 390 points at $1.8088 today. Prices closed nearer the session high today. The bulls have the overall near-term technical advantage. The bulls' next upside price objective is closing prices above solid technical resistance at the March high of $1.9830. May (RBOB) unleaded gasoline closed up 434 points at $2.0031 today. Prices closed near the session high today. The bulls have the overall near-term technical advantage. The next upside price objective for the bulls is closing prices above solid technical resistance at the March high of $2.1548. May natural gas closed up 4.2 cents at $2.65 today. Prices closed nearer the session high today. The bears have the overall near-term technical advantage but a five-week-old downtrend on the daily bar chart has been negated.
SOFTS: May sugar closed down 2 points at 14.75 cents today. Prices closed nearer the session low today and closed at a 2.5-month-low close. The sugar bulls and bears are on a level overall near-term technical playing field but the bulls are fading. Prices have been trending down for five weeks. May coffee closed down 165 points at 121.85 cents today. Prices closed nearer the session low and closed at a 3.5- month low close today. The coffee bulls and bears are on a level overall near-term technical playing field. However, a five-week-old downtrend is in place on the daily bar chart. May cocoa closed up $38 at $2,386 a ton today. Prices closed near mid-range today and saw more short covering after hitting a 4.5-month low on Tuesday. The cocoa bears have the firm overall near-term technical advantage. Prices have been trending down for more than three weeks. May cotton closed down 289 points at 77.99 cents today. Prices closed near the session low today and closed at a three-month-low close. Prices also scored a bearish "outside day" down on the daily bar chart today. Serious near-term and some long-term technical damage has been inflicted in cotton recently to suggest a market top is in place. Prices are in a five-week-old downtrend on the daily bar chart. The cotton bears have the overall near-term technical advantage. May orange juice closed down 35 points at $1.1025 today. Prices closed near the session low today. FCOJ bears have the solid overall near-term technical advantage. A bearish pennant pattern has formed on the daily bar chart.
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GRAINS: May corn futures closed down 2 1/2 cents at $5.61 3/4 today and closed nearer the session low after hitting a contract high early on. The corn bulls have the solid overall near-term technical advantage but today's low-range close suggests the bulls have quickly become exhausted. Bulls have restarted a price uptrend on the daily bar chart. May soybeans closed down 32 3/4 cents at $14.04 a bushel today. Prices hit a three-week high early on and then backed off to close near the session low. The bulls have the solid overall near-term technical advantage but now appear to be exhausted after Wednesday's limit-up price move. A 10-month-old uptrend on the daily bar chart is in place. May soybean meal closed down $15.00 at $408.20 today. Prices hit a five-week high early on today and then backed off to close near the session low. The meal bulls have quickly faded after limit-up gains Wednesday. Bulls and bears are now on a level overall near-term technical playing field. May bean oil closed down 75 points at 52.17 cents today. Prices closed nearer the session low today. The bean oil bulls have the firm overall near-term technical advantage. Still, a price uptrend on the daily bar chart has been negated. May SRW wheat closed down 11 1/2 cents at $6.06 1/2 today. Prices closed nearer the session low today. Winter wheat bears have regained the slight overall near-term technical advantage. Prices are in a five-week-old downtrend on the daily bar chart. May HRW wheat closed down 13 1/2 cents today at $5.62 1/4. Prices closed nearer the session low today. HRW bears have the overall near-term technical advantage. Prices are in a five-week-old downtrend on the daily bar chart.
GENERAL STOCK MARKET COMMENT: U.S. stock indexes closed higher today. Global stock markets were mostly up overnight, on this first trading day of the month and of the second quarter. Trader and investor risk appetite was upbeat Thursday after President Biden on Wednesday unveiled his U.S. economic rescue package, called the American Jobs Plan, at a cost of $2.25 trillion over eight years. The plan mainly addresses upgrading U.S. infrastructure and also includes tax hikes for higher-income Americans and businesses. The marketplace on this day is looking past a worrisome rise in Covid infections in Europe, including France imposing another business lockdown that will last about a month. Covid cases in parts of the U.S. are also on the rise. U.S. and most European markets are closed Friday for the Good Friday holiday but on that day there is the release of the important U.S. employment situation report from the Labor Department, which is expected to show March non-farm payrolls gaining 675,000 jobs following a rise of 379,000 in February. The unemployment rate is seen at 6.0%.The key outside markets today saw the U.S. dollar index a weaker on a routine corrective pullback after hitting a 4.5-month high on Wednesday. The USDX is still trending solidly higher at present. Nymex crude oil prices were higher and trading around $60.40 a barrel. An OPEC meeting that began today is in focus for the oil market. The cartel is expected to keep in place its present oil- production quotas. Meantime, the yield on the benchmark 10- year U.S. Treasury note is presently fetching around 1.68% after hitting a 14-month high of around 1.75% on Tuesday.
June U.S. T-Bonds closed up 1 21/32 at 156 8/32 today. Prices closed near the session high today on short covering. Bears still have the solid overall near-term technical advantage. Prices have been trending lower for six months. There are no early chart clues to suggest a market bottom is close at hand. June U.S. T Notes closed up 15.0 (32nds) at 131.13.0 today. Prices closed nearer the session high today on short covering. The note market bears still have the solid overall near-term technical advantage. The next upside price objective for the bulls is closing prices above solid resistance at 133.00.5.
LIVESTOCK: June live cattle closed down $0.22 at $122.67 today. Prices closed nearer the session low on mild profit taking after hitting a contract high in early trading. The bulls have the solid overall near-term technical advantage. Prices are in a five-month-old uptrend on the daily bar chart. May feeder cattle closed down $0.20 at $149.20 today. Prices closed nearer the session low today and saw mild profit taking after hitting a contract high on Tuesday. Bulls have the solid overall near-term technical advantage amid a four-month-old price uptrend in place on the daily bar chart. June lean hogs closed up $0.22 at $105.52 today. Prices closed near the session low today and hit a contract high early on. The bulls have the solid overall near-term technical advantage. Prices are in a four-month-old uptrend on the daily bar chart.
METALS: June gold futures were up $11.20 at $1,726.80 in midday trading today and near the session high on more short covering and bargain hunting. The gold bears still have the firm overall near-term technical advantage. However, bulls have gained some momentum and more good buying interest early next week form a bullish double- bottom reversal pattern on the daily bar chart. May silver futures were up $0.308 at $24.84 at midday today and near the session high. Short covering and bargain hunting were again featured after prices hit a 3.5-month low Wednesday. The silver bears still have the firm overall near-term technical advantage. Prices are in a two-month- old downtrend on the daily bar chart. May N.Y. copper closed down 45 points at 399.10 cents today. Prices closed nearer the session high today. The copper bulls have the overall near-term technical advantage. However, prices are in a five-week-old downtrend on the daily bar chart.
| | | Top Stocks | | # | symbol | name | last | net | % | volume | score | triangles | | | 1. | ACY | AeroCentury Corp | 9.63 | +6.08 | +62.68% | 142,032,464 | +90 |    | Entry Signal | | 2. | CLF | Cleveland-Cliffs, Inc | 19.365 | -0.745 | -3.84% | 31,732,611 | +100 | | Entry Signal | | 3. | MSFT | Microsoft Corp | 242.4500 | +6.6800 | +2.76% | 26,360,688 | +100 | | Entry Signal | | 4. | MVIS | Microvision, Inc | 15.52 | -3.03 | -19.50% | 25,756,945 | +90 | | Entry Signal | | 5. | UBER | Uber Technologies, Inc. | 57.51 | +3.00 | +5.21% | 17,750,264 | +100 | | Entry Signal | | 6. | FB | Facebook, Inc | 298.66 | +4.13 | +1.38% | 17,393,541 | +100 | | Entry Signal | | 7. | TSM | Taiwan Semiconductor | 124.66 | +6.38 | +5.11% | 16,600,574 | +100 | | Entry Signal | | 8. | SNOA | Sonoma Pharmaceuticals, Inc | 8.80 | +1.37 | +15.57% | 15,218,176 | +100 | | Entry Signal | | 9. | AMAT | Applied Materials, Inc | 141.3300 | +7.7300 | +5.46% | 14,651,934 | +100 | | Entry Signal | | 10. | SWN | Southwestern Energy Co | 4.8268 | +0.1768 | +3.65% | 11,590,906 | +100 | | Entry Signal | |
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