Welcome everybody to the Traders Market Intelligence Report brought to you by WealthBuildersHQ.com. This update is for Monday, the 1st of April. April Fools 2024. Hope you’re having a fantastic day. Hope it was a great trading day and trading week for you. As we get started, keep in mind everything we look at is for education. Nothing’s meant to be advice or recommendations. So we’re gonna start off with the economic reports.

I’ve got next week already pulled up. So here we got the first we’re looking at 10:00 AM That’s very important to note, take note of that is when the market is open, of course,. We have the ISM coming out, which is Purchasing Manager Index. Same time we’ve got ISM manufacturing prices. Same report on Tuesday also at 10:00 AM Jolts, which is the job opening. FOMC is at 12:05 PM. So we’ve got one of the members, Messer is speaking, you get 5:15 AM which I’m not really too concerned with the 5:15 AM right? OPEC going on at that time. Butthen we’ve got ADP. We’ve got, again, final on the PMI, which starts on Monday. Powell speaks on Wednesday at noon, 12:10. So be very cautious entering the trade on Wednesday, pre Powell speaking, just for what words slip out that could move the market one way or another. I’m not saying don’t trade it, I’m saying be aware of it. Then he’s back again. Actually there’s two members back again on Thursday along with unemployment. And then Friday is average hourly earnings month over month. And then non farm payroll unemployment rate. All again, part of the same report. And the 9:15 AM Barkin speaks outta the FOMC. So we got a lot happening in this upcoming week. Okay? So definitely something to keep note of.

Now we’re gonna go take a look at the S&P 500 and let’s see what the heck has happened with the S&P. I left the orange bar on from last week. This was last Friday and here we are. Thursday, market is closed. Monday now, not tomorrow. We’re closed now for Good Friday. So what happened? Well, we gapped right down on Monday, right? So right here, we got right down to this third line, which by the way is the -0.618. Very critical level, right? We got down to that on Monday. And, kind of fooled around with it all day long. Went a little higher and then closed right about that level. We gapped up, the next day, which was Tuesday. We ran up and then failed. So we had put in what looked like another high, which it was, but we’re gonna get a little bounce is what the expectation was. And we failed. Now we closed right at the eight moving average and the 5,200 fib line. So there’s a confluence there. Now, let me be clear. I would prefer to see the confluence at a FB line and a moving average, than I would at the a hundred point level with a moving average. But I’ll take the confluence because it’s a confluence, right? I have more than one thing happening there. So there are different cells, different groups of traders that are focused in that particular area. Alright? And then what happens the next day, yesterday Wednesday, we gap up, great gap up, we pull back und we bounce. (Great SPY trade, by the way, hopefully you got it to take advantage of that.) And we’re talking about near perfect storm, the way this sucker’s set up. It was a great setup. And then today we, we gapped up slightly, not much. We gapped up slightly. We pulled down a little bit, ran up a little bit. We did not have a pullback as the expectation on a normal Friday lately. And then we pushed up. This was 5261.10. That was our recent high, actually all time high. It just happens to be recent. Today we went to 5264.49. Woo. We broke it, right? So I’m gonna get rid of this line here and put it at 5264.49. All right? That is our high right now.

If we look at VIX today, so we’re up on VIX. We’re up 23 cents, which you would expect down since the S&P 500 was up today ’cause their inverse relationship. But with the VIX being as low as it is, there’s really that much to expect, right? I mean, okay, so we went up a little bit. No big deal. We are so low, it doesn’t matter. We’re sitting at 13 on the, on the VIX. Super low.
All right, let’s get some targets for next week of where we see it going. I would love, love if you’re not in already, you want a pullback, right? We’ve got the new all time high. We may get a day or two to the upside, but ultimately I’d like to pull back towards the eight, towards, towards the confluence. If we get this two or three days, it goes on. We’ll no longer have a confluence. My eight moving average will be somewhere up over here, right? So the confluence potential will be gone. But I love the opportunity that it gave us yesterday. So obviously we’re gonna keep our eye on that all time high, which is the 5264.49. And then we have our first target up above there, 5284, right? Which is our Fitbot. And then from there, 5351 is our next upside target above that, right, which is a -0.809, by the way. All right? You can see it on my, if I put my mouse on there, look at that yellow box, middle line all the way to the left, which says minus 0.809. It’s the -0.809 line. All right? So that’s what I’m looking at for the upside. What do I wanna see the downside? 5219, come back, bounce, take off. Gimme a new high. Because what is happening here? What’s the most important thing that I see on this screen? Is this low, high, high or low? Uwe kind of got about an even high there. We got a low, a higher or low, higher, high, higher or low, and now a higher high, right? So that’s the pattern we want, over and over again. We don’t want “WOO” because we wind up getting woo, right? I don’t wanna be on that rollercoaster. Going after rails on a crazy train, right? Not interested whatsoever from that fashion. Come on down to 5219, bounce, good opportunity for entry. Now, if we do break, I’m not concerned with it. Why? Why? Well, why would breaking not be a bad thing? I’m not saying it’s not bad. I’d like it to stay where it is. We’ve broken before we broke here. You can do the 21. We broke here and came back. We broke here and came back and here, here, here, here, right? We didn’t get a break on this one, right? Beautiful. Maybe just additional added strength today. Whatever it is. If we break, I’m okay. If we stay above the 21, I’m okay. More caution. Of course. In other words, if we move inside of the eight and 21 here, between these two lines, I’m going to be a little more cautious without a doubt. But I’m not going to stress that it’s there. ‘Cause we’ve been there so many flipping times. Break the 21. Houston, we have a problem. And I don’t mean on a wick, I’m okay with the wick. I’m talking about if it breaks through and closes below, we may potentially have a problem. So keep your eyes on that.

And there you have it. Ladies and Gentlemen, have a great rest of your day. Hey, Monday make sure to go ahead and register. Go over to TradingLikeABoss.com each and every Monday we do our free training called Power Hour. Go ahead and take advantage of that. I’ll see you there on Monday. All right. Take care everybody. Bye for now.

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