[Video] The Dow hits 33k, palladium is no ‘soft’ metal
Matt Simpson March 18, 2021 5:07 AM
It was another solid close on Wall Street thanks to the Fed, which sent the Dow Jones and S&P 500 to fresh all-time highs.
- Palladium, which is often described as similar to platinum but a ‘softer metal’ is anything but, if recent returns are anything to go by.
- Gold closed above 1740 for the first time since the 1st of March. We now look for this area to hold as support and target the lows around 1760.
- WTI continues to coil up in its highs but retain its bullish trend above the 59.24 low. A break beneath 63.13 warns of a deeper retracement whilst a break above the symmetrical triangle could be taken as bullish continuation.
- The S&P 500 closed 0.3% higher and was led by the consumer discretionary, industrial and energy sectors.
S&P 500 (0.29%) 17 March 2021
- The index closed -0.17% below its 52-week high
- 313 (61.98%) stocks advanced and 188 (37.23%) declined
- Consumer Discretionary (1.4%) was the strongest sector and Utilities (-1.62%) was the weakest
- 5 out of the 11 sectors outperformed the index
- 87.52% of stocks closed above their 200-day average
- 78.22% of stocks closed above their 50-day average
- 81.58% of stocks closed above their 20-day average
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