Market analysis for April 23rd, 2024

4/23/2024

We had a strong start to the week yesterday with my net liq ending up $12,965 dollars. Most everything clicked for us. NVDA, which hurt me last Friday came roaring back to help. All four of our 0DTE's make money. 6% on Bitcoin. 36% on Event contract NDX. 7.5% on SPX and 77% on NDX. All told I worked $8,800 of capital to a $6,000+ dollar gain. We also have another Theta Fairy that is close to a full profit as I type.
I was looking for a bullish day yesterday and that's what we got. Technicals are starting to swing back to slight buy mode:

After nearly three weeks of weakness, the indices are trying to flash some green.

My lean today is more neutral than bullish

Trading catalysts for today:
Sentiment
US market futures rose slightly as the busiest week of the earnings season began, with prospects for a prolonged surge hinged on whether big tech can justify expensive valuations fueled by the artificial intelligence boom.
The “Magnificent Seven” cohort of tech megacaps, led by Tesla, will report first after today’s market closure. Meta is next on Wednesday, then Microsoft and Alphabet on Thursday.

Docket
09:45 ET
US S&P April Flash PMIs for April
Manufacturing – Median Forecast: 52 | Prior: 51.9 | Range: 53 / 50
Services – Median Forecast: 52 | Prior: 51.7 | Range: 52.2 / 50.8
10:00 ET
US New Home Sales – Units for March
Median Forecast: 0.67M | Prior: 0.662M | Range: 0.7M / 0.625M
13:00 ET
US sells $69 bln 2-Year Notes

Speakers
08:30 ET
ECB’s Nagel Speaks in Berlin
Event details

Earnings
16:05 ET
Tesla Q1 2024 Earnings
Est EPS: 53c
Est Rev: $22.42B

Our Trade docket for today:
/ES (theta fairy), VTI, TSLA, GL, META, MSTR, SPX/NDX/Event contract NDX/Bitcoin 0DTE's, SBUX, TXN.

Intra-day levels for me:
/ES; 5059/5077/5092/5110 to the upside. 5049/5033/5021/5005 to the downside.