Hello Everyone,
Quick Notes: Unlike the past few days, today we saw some larger ranges and increased volatility. The session started with a gap to the upside that was quickly faded with the SPX falling over 40 points (4218-4177) back near support (Tuesday's low) where buyers once again appeared. The SPX then rallied back up 40 points (V-recovery) to 4116 and then traded in a narrow range the past hour closing at 4211. A nice two-way trade today. While the DOW/SPX/QQQ closed higher
(IWM lower) breadth today was certainly not great. Stay true to your plans.
AMZN reported blowout results after hours tonight and is trading up well over 100 points. With that said the futures (ES and NQ) are currently quoted down slightly at this time. I have noticed many large gaps up and down depending upon guidance during this reporting season. Most charts are loose now and there are simply not many objective setups as a result.
Lastly, have some hedges handy if needed.
Please take a moment to look at the trade ideas.
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4/26: SPX DVT = 4089, 2 day candlestick chart 4025