The Dow Jones Industrial Average climbed on Monday as investors piled into economic comeback plays after Senate approval of a new Covid stimulus package, while a continuous sell-off in high-flying tech shares put pressure on the broader market.

The S&P 500 erased a 1% gain to close 0.5% lower at 3,821.35. The S&P 500 also ended the day down about 0.5%, dragged down by shares of Tesla, PayPal, Etsy and Advanced Micro Devices. 

The Senate passed a $1.9 trillion economic relief and stimulus bill on Saturday, paving the way for extensions to unemployment benefits, another round of stimulus checks and aid to state and local governments. The Democrat-controlled House is expected to pass the bill later this week. President Joe Biden is expected to sign it into law before unemployment aid programs expire on March 14.

Meanwhile, the Centers for Disease Control and Prevention said Monday people who’ve been fully vaccinated against Covid-19 can meet safely indoors without masks, further boosting reopening hopes. The positive news boosted stocks banking on a strong economic recovery.

The benchmark 10-year yield has risen sharply in recent weeks in anticipation of more stimulus on top of a booming economic recovery. The 10-year Treasury yield rose 4 basis points to 1.6% Monday. The benchmark rate started the calendar year below the 1% mark.

Plan A : Long if market supported firm above 3848. Targets are 3863, 3880 and 3901.

Plan B : Short if market failed to support above 3848. Targets are 3825, 3799 and 3775.

Dow futures were higher early Tuesday morning putting the index on track to extend its rally from the regular session overnight.

The Nasdaq Composite slid 2.4% in volatile trading to 12,609.16 as Apple dropped 4.2% and Tesla fell 5.8%. Alphabet and Netflix both slipped more than 4%.

The tech-heavy benchmark closed more than 10% below its Feb.12 closing high, falling into correction territory.

The high-growth names have been pressured by rising interest rates lately. The U.S. 10-year Treasury yield stood around 1.6% on Monday. However, hedge fund manager David Tepper said the recent sharp rise in rates is likely over and it’s hard to be bearish on stocks right now.

Plan A : Long if market supported firm above 12589. Targets are 12618, 12647 and 12682.

Plan B : Short if market failed to support above 12589. Targets are 12548, 12510 and 12472.

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Plan A : Remain short as long as market stays trading below 1714.2. Targets are 1683 and 1676.

Plan B : Consider long only if market supports firmly above 1676 and rebound. Targets are 1687 and 1714.2.

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.