EFS-Super Week Attacks Can US stocks hit new highs?

Last week, there was a lot of heavyweight news in the market, with clear signs of manufacturing recovery in major global economic systems, particularly in China2Monthly Official and Caixin Manufacturing IndustryPMIThe data continues to strengthen, and the US manufacturing industry, which has already emerged from the crisis, has performed well, indicating that2017The speed of global economic growth will accelerate this year, which will create a certain positive impact on the growth of demand for commodities. The cycle of recovery and prosperity for commodities has arrived, and we continue to be optimistic about related products2017The trend of the year. Last week, US President Trump made his debut in Congress, stating that the trillion dollar infrastructure and tax cuts reforms were in line with investor expectations. In addition, the Federal Reserve's vote committee has expressed the urgency of a rapid interest rate hike,USD IndexBreakthrough at one point102The key resistance level is high, but there is still uncertainty about the prospect of interest rate hikes, and the US dollar index rebounded on Friday60The daily moving average supports, and the future depends on the performance of non-agricultural data this Friday.
　　goldIn terms of aspect, the world's largest goldETF-SPDROur gold holdings are840.58Tons, reduced compared to the previous trading day4.74Tons, last week's holdings increased first and then decreased, resulting in a total decrease in holdings0.59Tons, due toUSD IndexRising and falling, gold stabilizes near the lower track of the daily Bollinger Bands, with a higher probability of oscillation in the future market range.

　　crude oilOn the one hand, the increase in US crude oil inventory data released last week was lower than market expectations, butUSD IndexRelatively strengthening, crude oil once rebounded52.5Nearby, with the stable growth of crude oil demandOPECThe intensity of production reduction is increasing, and the balance of crude oil supply and demand will once again come. Overall, crude oil will continue to fluctuate and rise in the future market.

There are many economic data and financial events that we need to pay attention to this week, especially Friday's non-agricultural data, as follows:

On Monday, we need to focus on the relevant news of the Chinese People's Congress and the Chinese People's Political Consultative Conference2monthforeign exchangeReserve data has a significant impact on the Australian dollar and commodities, and in addition, we also need to focus on the United States1Performance of monthly durable goods and factory order data;

On Tuesday, we need to focus on the Reserve Bank of Australia3Monthly interest rate resolution and quarterly adjustment for the fourth quarter of the EurozoneGDPThe performance of annual rate terminal value;

On Wednesday, the performance of China's trade data, especially the data on crude oil imports, has a significant impact on commodities. It is also necessary to pay attention to the small non farm payroll in the United States——2monthADPPerformance of employment data;

On Thursday, we need to focus on the European Central Bank3Monthly interest rate resolution and Draghi's speech, China2Monthly inflation data also needs attention;

On Friday, we need to focus on the United States2The performance of monthly non farm payroll data, especially its salary growth data, as the employment data for the first month since Trump took office, can help us to assess the impact of Trump's new policies.

Specific technical aspects:

Crude oil daily chart

Last week, crude oil fell below the trend line support, but Friday's rebound was once again hindered, and short-term crude oil fell again52There is a high probability of support in the vicinity, and light positions can be placed on the mid track of the daily distribution belt53.45Short nearby, stop loss53.80Stop surplus52.05。

Golden Daily Chart

Gold closed in a hammer shaped pattern last Friday, and continued to rebound in the early morning session, with pressure near the mid track. If the resistance range of gold adobe continues to rise to near the previous high, it is currently mainly on a wait-and-see basis.

S&P500Index daily chart

Trump's reform measures are steadily advancing, with expansion of infrastructure and tax reduction plans benefiting the performance of the US stock market. The US stock market was under pressure last week2400Near the point, can be stepped back2365Going long near entry, stop loss2358Stop surplus2392。

EFS  Analyst: Deng Pan