Forex Analysis & Reviews: 31.03.2022 - US Premarket for March 31:...

31.03.2022 01:42 PM

US Premarket for March 31: investors are starting to recover from the March bullish rally

Futures on US stock indices opened in positive territory on Thursday, but then returned to the closing level of yesterday and practically do not show any positive or negative dynamics. Most likely, the sideways dynamics of the market will continue during the regular session, as traders and investors will summarize the results of the month and quarter. Dow Jones Industrial Average futures fell 26 points or less than 0.1%. S&P 500 futures were unchanged, while Nasdaq 100 futures gained 0.2%. Historically, March is one of the best months of the year when you can watch a bullish rally, which the market has demonstrated to us.

A slight decline in oil prices against the background of the ongoing geopolitical conflict will not surprise anyone. West Texas Intermediate crude futures fell 5% to $102.18 per barrel. According to media reports, the administration of President Joe Biden is considering a plan to extract 1 million barrels of oil per day from strategic reserves for about six months. How the energy carriers will be used and for what has not yet been reported.

At the end of the month, the S&P 500 and Nasdaq can close by +5% each, while the Dow rose by almost 4% in March. But at the end of the quarter, the Dow and S&P 500 fell by about 3%, and the Nasdaq - by more than 7%.

The obvious limiter of the upward rally on the US stock market is now the Federal Reserve System with its plans to tighten monetary policy, as well as Russia's military special operations on the territory of Ukraine. Philadelphia Fed President Patrick Harker recently said he doesn't think the US is heading for a recession. As for interest rates, he is still open to a more aggressive policy in the future, but so far he is only in favor of an increase by a quarter of a percentage point in May. "I would not refuse to raise the rate by 50 basis points in May, but there is no need for that yet," Harker said.

Today, traders will focus on weekly data on applications for unemployment benefits and the personal income and expenses of Americans.

But before running through the technical picture of the market and the premarket, I would like to note an interesting report, according to which forty-six percent of respondents surveyed said that the Fed's mistake could potentially undermine the bull market. At the same time, 33 percent noted that the growth of inflation in the United States poses a serious threat. And only eleven percent called further aggression from Russia the biggest threat to the markets. Let me remind you that earlier this month the Fed decided to raise rates by 0.25 percentage points - the first increase since December 2018. The central bank has also made it clear that it will raise rates 10 times in less than two years and reduce the Fed's balance sheet, which now stands at trillions of dollars.

Premarket

Shares of some technology companies were under pressure today amid analysts' concerns about the future development of the PC market. AMD shares fell more than 2% in premarket trading after Barclays analysts downgraded their rating. Shares of HP Inc and Dell fell by 3.8% and 2%, respectively, also after the revision of their rating in Morgan Stanley.

As for the technical picture of the S&P 500

Yesterday's attempt to defend $ 4,588 was successful. It was this area that the bears stormed for the second time this week. Most likely, they will also focus on it today. Closing the market below this range will cool the ardor of buyers. Bulls, of course, will certainly try to continue the uptrend. The nearest target is the resistance of $ 4,665. Going beyond this level will open a direct path for the trading instrument to the highs: $ 4,722 and $ 4,818. In the event of a return of pressure on the index and a breakthrough of $ 4,588, we can expect a decline to the area of $ 4,539, but the longer-term target of sellers of the trading instrument will be at least $ 4,488, after which the bulls will have to start all over again.

You have already liked this post today

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Se você tiver alguma dúvida sobre conteúdo, por favor, entre em contato com editorial-board@instaforex.com

Stock Markets

Jakub Novak,
Especialista em análise na InstaForex
© 2007-2025

Mais artigos deste autor

Inscrição do e-mail

EURUSD

Euro vs US Dollar

Selecionar intervalo de tempo

min

hora

horas

dia

Comece a negociar

Ganhe com as variações das taxas das criptomoedas com a InstaForex.

Baixe o MetaTrader 4 e abra a sua primeira operação.

Recommended Stories

Atualização sobre o mercado de ações dos EUA em 27 de junho. SP500 e NASDAQ atingem novos máximos

Ações da Nvidia atingem o maior valor já registrado

O mercado de ações está se aproximando de níveis críticos.

Atualização sobre o mercado de ações dos EUA em 25 de junho. Principais índices de ações crescem em confiança

Mercado de ações dos EUA em alta com o anúncio do cessar-fogo entre Israel e Irã

Atualização sobre os índices de ações dos EUA em 24 de junho. SP500 e NASDAQ sobem em meio a boas notícias

Previsão para o S&P 500 para 24 de junho de 2025

Atualização sobre o mercado de ações dos EUA em 23 de junho. Índices de ações dos EUA fecham com resultados mistos. Petróleo é negociado em alta em meio a tensões geopolíticas

A tendência de alta no mercado de ações dos EUA está prestes a quebrar. O mercado manterá o ímpeto de alta até o final do verão?

Atualização do mercado de ações dos EUA em 20 de junho: S&P 500 e Nasdaq abrem em alta.

Principais análises