Market analysis for April 29th, 2024

Good Monday to you all! Welcome back to a new week of trading.
Markets are working a bullish retrace right now.

The next target for the indices is their respective 50DMA (yellow line)

This will be the next big test for this rebound attempt.
​We've got some decent I.V. to start the week.

We've had limited ability to get our daily Theta fairy trades on. We may get some more opportunities this week. Our 1DTE /NQ trade has continued to work well. We start the day off today already booking our profit there.

There's not too much on the new docket today:
Stocks rose on earnings optimism as traders anticipated a busy week for business reporting. The yen rallied after reaching its lowest level in 34 years.
With Apple and Amazon set to report in the coming days, investors will be looking for further proof that large technology earnings will keep equities rising. S&P 500 futures rose 0.1% on Monday. Tesla’s stock rose 8% in premarket trade after passing regulatory barriers to launch its driver-assistance technology in China.

Docket
11:30 ET
US sells $70 bln 3-Month Bills
US sells $70 bln 6-Month Bills

Speakers
11:00 ET
ECB’s Muller Speaks
15:20 ET
ECB’s Vice President de Guindos gives remarks at a dinner at the Royal Automobile Club organised by Euro50 Group in London, UK

If you'd like access to a spread sheet that lists all the actionable news items for this week, copy and past here: ​https://docs.google.com/spreadsheets/d/1ISkEMJc_4CjPyC_jYSDHBTrpxmE1oGErFR_qoaDN2Ek/edit#gid=938335859

My lean today is bullish:

Trade docket for today:
/MCL?, DIA, GOOG, SPY/NDX/Event contract NDX/Bitcoin 0DTE's, NVDA, ORCL, PFE, PLTR, FSLR, WYNN, IWM, CRM, PYPL, SHOP, SOFI?

Intra-day levels for me:
/ES; 5146/5161/5176/5194 (200 period MA on 4 hr. chart) to the upside. 5137/5130/5120/5114 to the downside.

/NQ; 18028/18176/18325/18449 to the upside. 17828/17762/17707/17631 to teh downside

Bitcoin: 65833 is consolidation area. 71612 is first resistance. 74382 is the big resistance level. 60776 is key support. If that breaks the next support is all the way down at 52107.

We have one potential earnings play for today: PARA.

Have a great week folks!