On April 7, the US stock exchanges ended in a mixed pattern. The S&P 500 index rose 0.15% to 4,080 points, the Dow Jones rose a negligible 0.05%, and the NASDAQ fell 0.07%. Most sectors showed modest performance, with the exception of the raw materials industry, which sank by 1.75%, mainly due to the fall of chemical companies. Rosta shares continue to outperform value companies, with treasury rates remaining close to 1.6%. Investors ' attention is focused on the prospects for opening up economies, the details of the infrastructure plan and tax reform.
Company News
- Storage technology provider SMART Global Holdings (SGH: +12%) reported quarterly results above expectations and strong guidance.
- Vehicle electrification solutions provider XL Fleet (XL: +3%) said it received an order for 19 electric pickups from Apex Clean Energy.
- Lamb Weston Holdings (LW: -3.6%) reported quarterly results below expectations, but noted a positive impact on the business from the easing of quarantine restrictions.
I expect
Today, most of the world's stock markets are showing positive dynamics. The focus continues to be on the prospects for opening up economies, the details of the infrastructure plan, potential rate increases and capital flows.
The publication of the minutes of the FOMC meeting, held on March 16-17, did not present any surprises: The economic recovery will depend on the pace of vaccination. It was noted that too fast a pace can lead to excessive risk appetite in the stock market. The participants of the meeting expect that the medium-term growth of inflation will be temporary, and therefore the regulator intends to continue to adhere to the previously chosen soft course of monetary policy.
The discussion of infrastructure reform leads to a closer attention of investors to the potential increase in taxes. On the eve of Janet Yellen noted that the tax reform will shift the balance in the direction of companies that provide a contribution to the American economy. Commerce Secretary Gina Raimondo, in turn, said that the increase in the corporate income tax to 28% is still subject to discussion in the White House.
- Asian stock markets showed mixed dynamics. China's CSI 300 rose 0.17%, Japan's Nikkei 225 fell 0.07%, and Hong Kong's Hang Seng rose 1.15%. European EuroStoxx 50 adds 0.34%.
- Risk appetite is weak. The rate on 10-year treasuries is near 1.65%. Brent crude futures are hovering around $63, while Gold is rising to $1,746. The Russel2000 index of small-cap companies loses 1.6%.
We expect that the S&P 500 will hold the upcoming session in the range of 4070-4110 points.
Economic news and macro statistics
On April 8, weekly data on the number of initial applications for unemployment benefits in the United States will be presented. Expectation: 680 thousand against 719 thousand for the previous period.
Reports
Today, the report for the 2021 fiscal year will be presented by the alcohol giant Constellation Brands (STZ). Its latest quarterly figures reflected surprisingly strong sales growth, as steady home beer consumption offset falling demand in bars and restaurants. Along with Boston Beer, Constellation Brands ' sales accounted for most of the industry-wide growth in 2020. The report released this week should contain more evidence of strong growth in imported beer brands such as Modelo and Pacifico, along with the modest success of the launch of sales of the Corona hard seltzer, which directly competes with Boston Beer's Truly franchise. Sales growth will slow compared to the previous quarter due to shifts in shipping and inventory. Constellation Brands ' revenue is expected to fall 2% to $1.865 billion. The stock's movement will depend on the forecast for the 2022 fiscal year.
Technical picture
Technically, the S&P 500 is still in an uptrend. On the eve of the broad market index continued to consolidate in a narrow range. The absence of a more pronounced correction is a positive factor. The MACD indicator indicates the continuation of the advantage of the "bulls", while the RSI indicator is approaching the overbought zone. We believe that there is still a little room for growth, but the S&P 500 index will meet serious resistance at the level of 4110 points, in the area of which the uptrend line runs.
Litecoin LTC/USD is trading at 126.99. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Litecoin. At the moment, cryptocurrency quotes are moving near the average border of the bands of the Bollinger Bands indicator.As part of the Litecoin exchange rate forecast, a test of the level of 148.20 is expected. From where we should expect an attempt to continue the fall of LTC/USD and further development of the downward trend. The target of such a movement is the area near the level of 41.20. The conservative area for Litecoin sales is located near the upper border of the bands of the Bollinger Bands indicator at the level of 149.20.Litecoin signal for the week of July 19-25, 2021The cancellation of the option of continuing the decline of the Litecoin exchange rate will be a breakdown of the upper border of the bands of the Bollinger Bands indicator. As well as a moving average with a period of 55 and the closing of the pair's quotes above the area of 210.20. This will indicate a change in the current trend in favor of a bullish one for LTC/USD. In the event of a breakdown of the lower border of the bands of the Bollinger Bands indicator, we should expect an acceleration of the fall of the cryptocurrency.Litecoin forecast for the week of July 19 - 25, 2021 assumes a test of the level of 148.20. Then it is expected to continue falling to the area below the level of 41.20. The conservative selling zone is located near the area of 149.20. The breakdown of the level of 210.20 will act as a cancellation of the fall of the cryptocurrency. In this case, we should expect continued growth. 
Ethereum ETH/USD is trading at the level of 1946. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Ethereum. At the moment, cryptocurrency quotes are moving near the average border of the bands of the Bollinger Bands indicator.As part of the forecast of the Ethereum exchange rate, a test of the 2140 level is expected. From where we should expect an attempt to continue the fall of ETH/USD and further development of the downward trend. The target of such a movement is the area near the 1270 level. The conservative area for Ethereum sales is located near the upper border of the bands of the Bollinger Bands indicator at the level of 2420.Ethereum signal for the week of July 19-25, 2021The cancellation of the option of continuing the decline in the Ethereum exchange rate will be a breakdown of the upper border of the bands of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of the pair's quotes above the area of 2620. This will indicate a change in the current trend in favor of a bullish one for ETH/USD. In the event of a breakdown of the lower border of the bands of the Bollinger Bands indicator, we should expect an acceleration of the fall of the cryptocurrency.The Ethereum forecast for the week of July 19 - 25, 2021 assumes a test of the 2140 level. Further, the fall is expected to continue to the area below the level of 1270. The conservative sales zone is located near the 2420 area. The breakdown of the level of 2620 will be the cancellation of the option of the fall of the cryptocurrency. In this case, we should expect continued growth. 
Bitcoin BTC/USD is trading at the level of 31934. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the lower border of the bands of the Bollinger Bands indicator.As part of the Bitcoin exchange rate forecast, a test of the 34040 level is expected. From where we should expect an attempt to continue the fall of BTC/USD and further development of the downward trend. The goal of such a movement is the area near the level of 22070. The conservative area for Bitcoin sales is located near the upper border of the bands of the Bollinger Bands indicator at the level of 35980.Bitcoin signal for the week of July 19-25, 2021The cancellation of the option of continuing the decline in the Bitcoin exchange rate will be a breakdown of the upper border of the bands of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of the pair's quotes above the area of 38200. This will indicate a change in the current trend in favor of a bullish one for BTC/USD. In the event of a breakdown of the lower border of the bands of the Bollinger Bands indicator, we should expect an acceleration of the fall of the cryptocurrency.The bitcoin forecast for the week of July 19 - 25, 2021 assumes a test of the 34040 level. Further, the fall is expected to continue to the area below the level of 22070. The conservative sales zone is located near the area of 35980. The cancellation of the fall of the cryptocurrency will be the breakdown of the 38200 level. In this case, we should expect continued growth. 
Ripple XRP/USD is trading at 0.6369. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Ripple. At the moment, cryptocurrency quotes are moving near the average border of the bands of the Bollinger Bands indicator.As part of the Ripple exchange rate forecast, a test of the 0.6780 level is expected. From where we should expect an attempt to continue the fall of XRP/USD and further development of the downward trend. The target of such a movement is the area near the level of 0.4890. The conservative area for Ripple sales is located near the upper border of the bands of the Bollinger Bands indicator at the level of 0.6790. Ripple XRP/USD forecast for June 29, 2021 The cancellation of the option of continuing the decline of the Ripple exchange rate will be a breakdown of the upper border of the bands of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of the pair's quotes above the 0.7420 area. This will indicate a change in the current trend in favor of a bullish one for XRP/USD. In the event of a breakdown of the lower border of the bands of the Bollinger Bands indicator, we should expect an acceleration of the fall of the cryptocurrency.Ripple XRP/USD forecast for today, June 29, 2021 suggests a test of the 0.6780 level. Further, the fall is expected to continue to the area below the level of 0.4890. The conservative sales zone is located near the 0.6790 area. The cancellation of the fall of the cryptocurrency will be the breakdown of the 0.7420 level. In this case, we should expect continued growth. 
Bitcoin BTC/USD is trading at the level of 34671. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Bitcoin. At the moment, cryptocurrency quotes are moving near the average border of the bands of the Bollinger Bands indicator.As part of the Bitcoin exchange rate forecast, a test of the 40540 level is expected. From where we should expect an attempt to continue the fall of BTC/USD and further development of the downward trend. The target of such a movement is the area near the level of 23500. The conservative area for Bitcoin sales is located near the upper border of the bands of the Bollinger Bands indicator at the level of 40580. Bitcoin exchange rate forecast for the week of June 28 - July 4, 2021 The cancellation of the option of continuing the decline in the Bitcoin exchange rate will be a breakdown of the upper border of the bands of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of the pair's quotes above the area of 45580. This will indicate a change in the current trend in favor of a bullish one for BTC/USD. In the event of a breakdown of the lower border of the bands of the Bollinger Bands indicator, we should expect an acceleration of the fall of the cryptocurrency.The bitcoin exchange rate forecast for the week of June 28 - July 4, 2021 assumes a test of the 40540 level. Further, it is expected to continue falling to the area below the level of 23500. The conservative sales zone is located near the 40580 area. The cancellation of the fall of the cryptocurrency will be the breakdown of the level of 45580. In this case, we should expect continued growth. 
Litecoin LTC/USD is trading at the level of 170.97. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Litecoin. At the moment, the cryptocurrency quotes are moving near the average border of the bands of the Bollinger Bands indicator.As part of the Litecoin exchange rate forecast, a test of the 180.30 level is expected. Where to expect an attempt to continue the fall of LTC/USD and further development of the downward trend. The target of this movement is the area near the level of 130.20. The conservative area for Litecoin sales is located near the upper border of the Bollinger Bands indicator at the level of 181.00. Litecoin LTC/USD forecast for Today June 15, 2021 The cancellation of the option to continue the decline of the Litecoin rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of the pair's quotes above the area of 196.20. This will indicate a change in the current trend in favor of the bullish LTC/USD. In the event of a breakdown of the lower limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.Litecoin LTC/USD forecast for today, June 15, 2021 suggests a test of the level of 180.30. Further, it is expected to continue falling to the area below the level of 130.20. The conservative sales zone is located near the area of 181.00. The cancellation of the fall of the cryptocurrency will be a breakdown of the level of 196.20.In this case, we should expect continued growth. 
Ripple XRP/USD is trading at 0.8675. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Ripple. At the moment, the cryptocurrency quotes are moving near the average border of the bands of the Bollinger Bands indicator.As part of the Ripple exchange rate forecast, a test of the 0.9170 level is expected. Where to expect an attempt to continue the fall of XRP/USD and further development of the downward trend. The target of this movement is the area near the level of 0.6960. The conservative area for Ripple sales is located near the upper border of the Bollinger Bands indicator bands at 0.9180. Ripple XRP USD forecast for today June 15, 2021 The cancellation of the option to continue the decline of the Ripple rate will be a breakdown of the upper border of the bands of the Bollinger Bands indicator. As well as the moving average with a period of 55 and the closing of the pair's quotes above the 1.0420 area. This will indicate a change in the current trend in favor of a bullish one for XRP/USD. In the event of a breakdown of the lower limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.Ripple XRP/USD forecast for today, June 15, 2021 suggests a test of the level of 0.9170. Further, it is expected to continue falling to the area below the level of 0.6960. The conservative selling zone is located near the 0.9180 area. The cancellation of the fall of the cryptocurrency will be the breakdown of the level of 1.0420. In this case, we should expect continued growth. 
Ethereum ETH/USD is trading at 2468. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Ethereum. At the moment, the cryptocurrency quotes are moving near the lower border of the bands of the Bollinger Bands indicator.As part of the Ethereum exchange rate forecast, a test of the 2610 level is expected. Where to expect an attempt to continue the fall of ETH/USD and further development of the downward trend. The target of this movement is the area near the 2090 level. The conservative area for selling Ethereum is located near the upper border of the Bollinger Bands indicator at the level of 2620. Ethereum ETH/USD forecast for today June 15, 2021 The cancellation of the option to continue the decline in the Ethereum rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of the pair's quotes above the 2800 area. This will indicate a change in the current trend in favor of a bullish one for ETH/USD. In the event of a breakdown of the lower limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.Ethereum ETH/USD forecast for today, June 15, 2021 suggests a test of the level of 2610. Further, it is expected to continue falling to the area below the 2090 level. The conservative sales area is located near the 2620 area. The cancellation of the fall of the cryptocurrency will be the breakdown of the level of 2800. In this case, we should expect continued growth.