[Video] The Dow hits 33k, palladium is no ‘soft’ metal

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.

Stocks (3)

  • 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

View recent videos: 
Small caps stumble at the highs, WTI and gold look to the Fed
Nasdaq holding support, copper feeling its own weight
Gold to shine again? Euro stalls below 1.20
Nasdaq to close the gap with Wall Street peers?

More from Forex

Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.

Open an Account