Stocks rose sharply on Tuesday as traders grew more optimistic about Congress passing another economic relief package.

The S&P 500 advanced 1.3%, or 47.13 points, to 3,694.62, snapping a four-day losing streak. All 11 S&P 500 sectors registered gains on Tuesday, led by energy and utilities.

The new plan calls for $748 billion in spending for programs that are popular on both sides of the aisle, including small business loans, unemployment insurance, vaccine distribution, education and rental assistance. A second $160 billion bill would include the more contentious areas of business liability protections and financial aid to state and local governments.

The latest step toward a stimulus deal comes as investors and Americans at large grapple with a bleak near-term outlook but prospects of economic growth and a possible end of the pandemic in 2021.

The S&P 500 has gained more than 14% for the year despite the ongoing pandemic, leading some to believe that near-term upside could be limited.

Plan B : Short if market failed to support above 3671. Targets are 3645, 3619 and 3591.
 

U.S. stock futures were flat in early morning trading on Wednesday as investors clung to the possibility of new fiscal stimulus before the end of the year.

Market participants are also looking to the Federal Reserve’s comments on Wednesday about the future of the U.S. economy.

The Nasdaq Composite climbed 1.3%, or 155.02 points, to 12,595.06, reaching a new record closing high.

Investors cheered developments in Washington regarding a stimulus package to helping ailing Americans from the economic ramifications of the Covid-19 pandemic.

The bond market could have a volatile reaction depending on what the Fed signals about its bond buying program.

Plan A : Short if market failed to support above 12604. Targets are 12566, 12522 and 12480. 

Plan B : Long if market doesn't retrace much and supported firm above 12604. Targets are 12631, 12662 and 12689.

Plan A : Attempt sell if gold price stays below 1854. Targets are 1837 and 1828.

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, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, 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.