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Tackle Today: Fascinating Technical Battle Occurring

April 30, 2024

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The Market Has Yet to Telegraph its Next Move

Coach Mark here.

We really have a fascinating technical battle occurring in the markets right now. While I love discussing the macro side of the equation (inflation, economy, the Fed, geopolitics, etc.) the technical story of the market is the interesting one as we end the month of April.

We have highlighted this technical battle in the Trading Justice podcast, Halftime Report, and other programming at Tackle Trading over the last couple of weeks. We have advocated a “volatility playbook/let’s wait to see how this one develops” approach to markets in the short-term until the market telegraphs its next move. My brother Matt has done a masterful job in our rankings in the Tackle Trading Newsletter…downgrading the market ahead of the volatility and not downgrading it after its big move down two weeks ago. Why did he do this? Because he understands technicals as well as just about anyone on the planet.

We have an upcoming Options Success Training next Monday and Tuesday where we will be teaching the foundation of technical analysis. It is a skill set that you will use the rest of your life. It is free to all pro members and you can sign up for a 15-day free trial and attend the class for free. You can sign up for that trial here.

The technical battle continues and you want to be there when the market tips its hand for its next move. We will be breaking it down in our programming every day this week so come join the analysis in the Halftime Report today!

Have a fantastic Tuesday!


Chart of the Day: S&P 500 Futures (/ES)

We have moving averages acting as support and resistance just about on every time frame right now. For bulls, price has hesitated at the falling 20-day moving average which is very normal and bulls could use a jolt out of Amazon and AMD tonight to help clear this barrier heading into the Fed meeting tomorrow.



Today’s lineup

Traders Lounge 11 AM EST

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Halftime Report 12:30 PM EST

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