Market analysis for April 25th, 2024

Good morning traders! Yesterday was a mixed bag for me. My net liq got dragged down because of our MSTR an NVDA positions but our 0DTE's continue to rake in the cash. Our NDX brought in a whopping $3,900 profit on 8k of capital. Our SPX hit for $870 profit on $4,300 of capital. Our event contract NDX hit for a 5% ROI or $50 dollars profit and our BTC trade narrowly hit the profit zone of 5% or $48 dollars. Just shy of a $5,000 profit day with all four combined. 
Our NDX today looks poised for more profits. We could easily be over $110,000 of documented profits YTD today on NDX. 

Our SPX has added over $35,000 of documented profits and could be over $40,000 by the end of the month. 

Add in our daily Event contract NDX and Bitcoin 0DTE's, which we put about $1,000 of capital into each and we are close to $155,000 dollars of profit YTD on our 0DTE setups. We use, on average, about $15,000-$20,000 a day to generate this.
Add to this our scalping twice a week, which is tracking for over $50,000 of documented profits using $5,000 of capital. Next year I'll be going to $10,000 of capital scalping and shooting for $100,000 of profits.

With just these two strategies we are annualizing out to close to a half million dollars of profit this year. Its always foolish to extrapolate out into the future that far as we never know what it holds but our results speak for themselves.

Are we just amazing traders? Do we have better research then everyone else? I doubt it. I truly believe its all about the setups you use. 

What's happening in the market today?
​Sentiment
Technology companies led falls in US market futures this morning, as Meta’s poor forecast highlighted the danger of volatility during a high-stakes earnings week.
The stakes for tech titan profits are high following Wall Street’s record-breaking run fueled by the mania surrounding artificial intelligence. The market’s reaction demonstrates how expectations of the boost from AI to profitability at firms developing the technology may have run ahead of expectations.

Docket
08:30 ET
US GDP QoQ Q1 Advance
Median Forecast: 2.5% | Prior: 3.4% | Range: 3.1% / 1.7%
US Initial Jobless Claims
Median Forecast: 215K | Prior: 212K | Range: 220K / 205K
11:30 ET
US sells $70 Bln 4-Week Bills
13:00 ET
US sells $44 bln 7-Year Notes

Speakers
11:15 ET
ECB’s Nagel Speaks About Climate Change
Event details here

13:00 ET
ECB’s Panetta Speaks in Frankfurt

Earnings
16:00 ET
Alphabet Q1 2024 Earnings
Est EPS: $1.52
Est Rev: $66.06B
Intel Q1 2024 Earnings
Est EPS: $0.13
Est Rev: $12.70B
16:05 ET
Microsoft Q3 2024 Earnings
Est EPS: $2.83
Est. Rev: $60.87B

Our trade docket for today:
/MCL, /NG, BA, F, GLD, GOOG, IBM, IWM, MSTR, SPX/NDX/Event contract NDX/Bitcoin 0DTE's, ORCL, SBUX, SHOP, WYNN, XBI, MSFT, INTC, SNAP.

My intra-day levels for 0DTE setups:
/ES; 5090/5098 (PoC)/5115/5128 to the upside. 5067/5051/5032/5016 to the downside.

/NQ: 17550/17644/17707/17764 to the upside. 17411/17348/17292/17182 to the downside. 

Bitcoin; Bitcoin got hammered yesterday. Our 0DTE just squeeked by for a full profit. 71751 is resistance and 60597 is support. If 60597 doesn't hold as support today, there is plenty of downside potential. 

My lean today is bearish. META's poor showing is dragging all the futures lower. 

I'll see you all in the scalping room today. Let's see what we can get done there.