How Things Stand in the Market as of Sunday, April 28th. Here’s My Take…

Good Morning, Traders!

With the Nasdaq and S&P 500 above their 21-day moving averages, but still a little below their 50-days, market conditions have improved greatly, so some carefully considered trades are now possible. One would have preferred to see a little more volume punch to the Nasdaq’s big up day Friday, but so far, so good. Other than being below their 50-days. the only thing missing last week was Friday’s underwhelming volume. This week will see a continuation of earnings season with the likes of Advanced Micro (AMD), Super Micro Computer (SMCI), Amazon (AMZN), and Apple (AAPL) reporting—to name a few. The Fed has its two-day meeting this week, too, culminating in a policy statement Wednesday that hopefully will show at least two interest rate cuts before year-end. Hopefully, the Fed will be a little more forthcoming about the status of interest rates, lest the market be left to ponder the unthinkable— namely, no interest rate cuts for the rest of the year.