U.S. stocks rallied on Monday with the Dow and S&P 500 closing at record levels, as a round of strong economic data buoyed investor optimism for the economic reopening and a muted climb in the 10-year U.S. Treasury yield kept inflation worries in check.

The S&P 500 and Dow are kicking off the week in record territory. The S&P 500 gained 1.4% to close at 4,077.91, while the Dow jumped 373.98 points to 33,527.19, both all-time highs. 

An ISM survey for March showed a measure of U.S. services industry activity jumped to a record high. The data followed Friday's report showing U.S. non-farm payrolls surged by 916,000 jobs in March, trouncing forecasts.

Investors have bet on cyclical sectors poised to lead an economic reopening, with energy, financials and materials among the best performing on the year. A climbing yield on the 10-year U.S. Treasury note has dented appetite for technology stocks.

Plan A : Long if market supported firm above 4056. Targets are 4072, 4087 and 4105.

Plan B : Short if market failed to support above 4056. Targets are 4030, 4012 and 3979.

Stock futures held steady in overnight trading Monday after the Dow Jones Industrial Average and the S&P 500 both closed at record highs with strong economic data boosting hope for a smooth recovery.

The benchmark tech-heavy Nasdaq also raced higher, up 1.7% to 13,705.59.

Bond yields had another quiet session with the 10-year Treasury yield held steady at 1.71%, easing fears of rising inflation.

Investors continue to assess President Joe Biden’s $2 trillion infrastructure proposal and its chance to become reality. While politicians on both sides of the aisle support funding to rebuild American roads and bridges, disagreements over other priorities and the ultimate size of the bill remain. There’s also debate over Biden’s plan to raise the corporate tax to 28% in part to fund the plan.

Plan A : Long if market supported firm above 13518. Targets are 13547, 13579 and 13611.

Plan B : Short if market failed to support above 13518. Targets are 13480, 13439 and 13396.

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for April subscription.

Plan A : Remain buy as long as gold price trades firmly above 1714.2. Targets are 1729 and 1752.4.