In this week’s analysis, we will touch briefly on 4 markets that we believe will have considerable short-term moves and therefore, present the best trading opportunities.
- – Futures, CFD, ETFs;
- Jones – Futures, CFD, ETFs;
- – Forex
- – Forex
ES/SPX 60 Minute Chart – Apr 26th
Despite historic and the uncertainty caused by the pandemic, the broader markets seem to maintain their short-term strength and recovery mode. The FED is there to keep the Titanic from sinking, hence the unreal strength in every bear attack. Nonetheless, we couldn’t care much since we trade what we see in the market and not what we want. The following are our two hypotheses for the last week of the month:
- Hypo #1 (bullish): Never tests 2750 on any pullbacks and rallies towards 2930.
- Hypo #2 (bearish): Never rallies over 2850, sells-off below 2750, holds below this level, and retests 2700/650.
We always trade according to hypothesis #1 unless we get invalidated.