U.S. stocks will extend their record-setting rally in 2020 as subdued economic growth prompts the Federal Reserve to cut interest rates, according to Byron Wien’s annual list of surprises.

The S&P 500 will climb above 3,500 at some point this year, Wien, vice chairman of Blackstone Group Inc.’s private wealth solutions business, wrote in a statement along with Chief Investment Strategist Joe Zidle. Economic growth will trail forecasts and the central bank will lower its benchmark rate to 1%, they predict. The equity gauge recently traded at 3,234 and Fed’s fund rate stood at 1.75% while economists tracked by Bloomberg expect U.S. gross domestic product to expand 1.8% this year.

Plan A : Short if market failed to support above 3237.25. Targets are 3222.75, 3210.50 and 3200.25.
Plan B : Long if market supported firm above 3237.25. Targets are 3252.25, 3260.75 and 3269.25.

Stocks rose on Monday, recovering losses from earlier in the session as oil dipped despite rising geopolitical worries following last week’s U.S. killing of Iran’s top general.

The Nasdaq Composite advanced 0.56% to 9,071.47. Big tech stocks led the gains. Facebook and Amazon both rose more than 1%, and Netflix and Google-parent Alphabet advanced 3.1% and 2.7%, respectively.

Plan A : Short if market failed to support above 8845.50. Targets are 8808.25, 8779.75 and 8745.25.

Plan B : Long if market supported firm above 8845.50. Targets are 8875.25, 8898.25 and 8917.50.

HSI

Hong Kong stocks closed lower on Monday, tracking broad weakness in Asian peers, as mounting tensions in the Middle East spurred geopolitical uncertainty and demand for safe-haven assets.

The Hang Seng index ended 0.8% lower at 28,226.19.

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WTI Crude

Oil prices edged higher to settle in the green on Monday, after a volatile session that saw prices spiked 2% in early trading, before dipping into negative territory, and then finally settling little changed. The price action came despite ongoing fears that Iran will retaliate against U.S. interests.

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Plan A : Remain buy as long as oil price stays firm above 62.2

Plan B : Exit below 62.0

Plan C : Consider selling if oil price fails to breach above 63.9

Plan D : Cut above 64.2

Gold

Gold surged Monday to its highest level in nearly seven years as investors fled riskier assets such as stocks amid rising tensions between Iran and the U.S.

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Plan A : Remain buy as long as gold price stood firmly above 1556.7

Plan B : Exit below 1551.8

Plan C : Consider selling if gold price fails to regain footing above 1567

Plan D : Cut above 1569

Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correctaysion, completion and amendment without notice.As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment.