read this before you trade tomorrow
Happy Sunday team!
Before we jump into the Sunday brief, we wanted to remind everyone…
TODAY is the LAST day to secure our NinjaTrader Toolkit Launch Pricing.⏰
EXCLUSIVE NT TOOLS LAUNCH PRICING:
Monthly = $107: https://buy.stripe.com/3cs2bxc92g6v5m84hI
Yearly = $897: https://buy.stripe.com/eVa2bx4GAf2r7ug15y
Lifetime = $997 (this is ONLY lifetime to the NT tools) https://buy.stripe.com/4gw17t6OI4nN01ObKg
Alright, now let’s jump into today’s market report!
Impact Snapshot
CPI Inflation - Wednesday
FED FOMC Minutes - Wednesday
PPI Inflation - Thursday
Unemployment Claims - Thursday
Consumer Sentiment - Friday
Market Evaluation
This week, the S&P 500 experienced a decline, setting a pessimistic tone for the beginning of the second quarter, as Fed officials suggested they were not inclined to quickly lower interest rates.
Last month, the central bank's Federal Open Market Committee kept its benchmark lending rate unchanged, its fifth straight pause, and maintained expectations for three cuts this year.
The upcoming economic calendar will highlight crucial official reports CPI/PPI inflation for March, along with the initial assessment of consumer sentiment for the current month.
Additionally, the minutes from the Federal Open Market Committee's March meeting are set to be disclosed on Wednesday.
Markets Breakdown
Last week the market has experienced significant volatility with the reasons being among ongoing FOMC speculation and persistent international geopolitical events.
So many times, traders focus too much on price of an individual day rather than looking at the bigger picture of where the market is standing in all time frames.
Friday’s activity appeared to be adjusting an overly short session from Thursday that was shaped by FED comments of interest rate cuts.
April is an inside month which is a form of short term balance and well off last month’s low (counting the US sessions only).
Daily saw a break below the continuously trend-line we’ve been focusing on with Friday seeing an attempt to reclaim above.
Daily and Weekly time frames have shown a pullback but not Monthly. Such was an instance a few years back and the market gone to make dozens of new all time highs.
It is better to being a little late to a move and wait for clear confirmation than being too earl. As always, you’ll know the ATH far after the fact.
Heading into next week, we don’t have any real significant economical activity until Wednesday.
Our main focus is to see if this break from the trend line has any follow up, with the market building value below the trend line which increases the odds of a correction being underway.
Alternatively, we will look for a “look below and fail” to find acceptance scenario, leading into building value back above the trend line which maintain the status we’ve been for weeks and eye a new ATH.
ES
Our short-term references heading into the next week.
Upside Levels: 5264/5282/5303
Downside Levels: 5224/5211/5181
That’s all we got for you today.
Like, share, comment your thoughts!
Oh, and go secure the NinjaTrader here:
Monthly = $107: https://buy.stripe.com/3cs2bxc92g6v5m84hI
Yearly = $897: https://buy.stripe.com/eVa2bx4GAf2r7ug15y
Lifetime = $997 (this is ONLY lifetime to the NT tools) https://buy.stripe.com/4gw17t6OI4nN01ObKg
Disclaimer: Futures and options trading carries a significant level of risk and may lead to substantial financial losses. The content provided in this newsletter is solely for informational purposes and should not be construed as a trade recommendation or financial advice. It is essential for readers to independently assess and make their own investment decisions, taking into consideration their personal financial situation and risk tolerance.