Market analysis for April 18th, 2024

Welcome back traders! We are already half way through the week.  It's been good so far. Yesterday was "adequate" for me. My net liq barely budged but it did finish in the green, by a whopping $249 dollars. Some of our trades worked and some did not. 

​The markets continue to show weakness.

Using the VTI as reference, we are now 13 trading days into the current downtrend which started April 1st with the IWM the most beat up and quickly approaching its 200DMA. It's also the most interest rate sensitive.

We do have some news catalysts today that could be market moving. We have jobless claims out as well as Nat gas inventory and several Fed members talking throughout the day.

My lean today in neutral, once again.
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Our trade docket for today: /ES (Theta fairy), /MCL, AA, DIA, GLD, GOOG, MSTR, NFLX, ISRG, AXP, TSM, Overnight Vampire trade, SPX/NDX/Event contract NDX/Bitcoin 0DTE setups.

Intra-day levels for me:
​/ES; 5084/5090/5106/5118 to the upside. 5070/5061/5055/5046 to the downside.

/NQ; 17830/17892/17968/18022 to the upside. 17615/17557/17404/17262 to the downside.

Bitcoin; 60640 continues to be key support. Dowside is 52212 and upside is 65836.

Have a good day folks. Lets see if we can make some money.