On 29/04/2021 TraderTalent.com is bringing you another guest post from Bryan Noble of TraderNoble.com.

U.S. Equity Markets bounced around before briefly spiking after the Federal Reserve’s policy announcement, finishing the day mixed as the S&P again closed flat while the Dow finished with a loss of 0.48%. Markets were choppy again before the Fed’s policy announcement, which was the big story of the day. The Federal Open Market Committee ended its two-day meeting, saying it planned to hold its benchmark Interest Rate near zero. The central bank also said it would continue its Monthly Asset Purchases. In his post-meeting press conference, Fed Chair Jerome Powell said the central bank was not discussing tapering its asset purchases. The lack of tapering is what sent markets higher, as Wall Street had built up expectations (and fears) that the Fed was going to pull out of the bond market. Another catalyst at work was Big Tech earnings. Alphabet (GOOGL) and Microsoft (MSFT) both put up good numbers yesterday, while Visa’s (V) report showed a rebound in consumer spending. Markets sold off into the close on little news. Earnings will continue to be a focus, with Amazon (AMZN) reporting tomorrow. European Markets closed higher. The European Commission President Ursula von der Leyen said the European Union’s $906 billion stimulus plan could play a major role in rebuilding the regional economy. S&P Global said the EU’s recovery plan could boost the region’s economy by as much as 4.1% over the next five years. The European Union’s “”vaccinations increased to 134.8 million yesterday, with a daily average of 2.8 million doses administered last week. Portuguese President Marcelo Rebelo de Sousa said the country’s COVID-19 state of emergency would end on Friday, with the government easing social-distancing measures as well. But it was not all good news… German Consumer Sentiment fell unexpectedly, as rising COVID-19 cases led to stricter lockdowns. In Asia, Japan’s Retail Sales data for March were greater than expected, indicating that the nation’s economy is recovering despite new COVID-19 restrictions. South Korean Consumer Sentiment increased for the fourth straight month in April to nearly pre-pandemic levels thanks to export strength and vaccine optimism. Australia’s First-Quarter Consumer Price Index data were weaker than anticipated, highlighting that inflation remains tame. Elsewhere, Oil rose 1.14% after the Energy Information Administration reported the U.S.’s inventory build wasn’t as large as initially estimated while both Gold and Bitcoin closed flat.

To mark my 2300th issue of TraderNoble Daily Commentary I am offering a special 2 year rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day To demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on [email protected] for details

For anyone following my Platinum Service it made 225 points yesterday and is now ahead by 659 points for April, having ended March with an impressive gain of 3769 points, having made 3286 points in February, 2077 points in January, 2273 points in December, 2025 points in November, 2779 points in October, 3042 points in September and 2383 points in August. Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1600 points

Equities

The S&P 500 closed 0.08% lower at a price of 4183.

The Dow Jones Industrial Average closed 164 points lower for a 0.48% loss at a price of 33,820.

The NASDAQ 100 closed 0.42% lower at a price of 13,901.

The Stoxx Europe 600 Index closed 0.4% higher.

Yesterday, the MSCI Asia Pacific Index rose 0.1%.

Yesterday, the Nikkei closed 0.21% higher at a price of 29,053.

Currencies

The Bloomberg Dollar Spot Index closed 0.2% lower

The Euro closed 0.3% higher at $1.2120.

The British Pound closed 0.3% higher at $1.3940.

The Japanese Yen closed 0.1% higher at 108.62 per dollar.

Bonds

Germany’s 10-year yield closed one basis points higher at -0.23%.

Britain’s 10-year yield closed two basis points higher at 0.80%.

US 10 Year Treasury closed two basis points lower at 1.61%.

Commodities

West Texas Intermediate crude closed 1.14% higher at $63.72 a barrel.

Gold closed 0.13% higher at $1,779.10 an ounce.

This morning on the Economic Front we have German Unemployment at 8.55 am. This is followed at 9.00 am by Euro-Zone Money Supply, Consumer Sentiment and the Economic Sentiment Indicator.

June S&P 500

My S&P plan worked well with the market trading higher to my 4191 buy level before selling off to my 4181 revised T/P level and I am now flat. Despite a supportive Fed, the S&P struggled yesterday as so much news is priced in as alluded by me on numerous occasions over the past six weeks. I will not chase the S&P higher and I will continue to be a buyer on any dip lower to 4160/4175 with a higher 4148 ‘’Closing Stop’’. As I go to press the S&P is rallying on the back of better results from Apple. The S&P has resistance from 4205/4221 where I will again be a seller with a 4235 ‘’Closing Stop’’. If I am taken long I will have a T/P level at 4187 If I am taken short I will have a T/P level at 4195.

EUR/USD

No Change. I am still flat and I will continue to be a seller from 1.2155/1.2195 with the same 1.2235 stop. I will now raise my buy level to 1.1995/1.2045 with a higher 1.1955 stop. If I am taken short I will have a T/P level at 1.2120. If I am taken long I will have a T/P level at 1.2075.

June Dollar Index

Late in the New York session the Dollar traded lower to my 90.50 buy level. I am still long and I will now lower my T/P level to 90.80. I will now raise my stop on this position to 90.15.

June DAX

I am still flat and I will now raise my buy level to 15100/15170 with a higher 15045 tight stop. If I am taken long I will have a T/P level at 15215.

June FTSE

I am still flat and I will now raise my buy level to 6840/6890 with a higher 6795 stop. I still do not want to be short the FTSE at this time. If I am taken long I will have a T/P level at 6920.

Dow Rolling Contract

After the Dow traded lower to my 33810 buy level we rallied 120 points after the FOMS Statement, allowing me to cover this position at my 33875 revised T/P level and I am still flat. Although the Dow traded heavy all-day yesterday, we have strong support from 33600/33750 where I will be a buyer with a 33455 ‘’Closing Stop’’. I still do not want to be short the Dow at this time. If I am taken long I will have a T/P level at 33880.

June NASDAQ

My NASDAQ plan worked well with the market trading lower to my 13880 buy level before rallying to my 13915 revised T/P level and I am now flat. I will continue to be a seller from 14055/14140 with the same 14225 ‘’Closing Stop’’. The NASDAQ has support from 13820/13910 where I will again be a buyer with a 13735 ‘’Closing Stop’’. If I am taken short I will have a T/P level at 13995. If I am taken long I will have a T/P level at 13970.

June BUND

The Bund traded lower to my 170.20 buy level before rallying to my 170.45 revised T/P level and I am still flat. Today, I will again be a buyer from 169.80/170.20 while leaving my 169.55 tight stop unchanged. If I am taken long I will have a T/P level at 170.50.

Gold Rolling Contract

I am still flat and I will now raise my buy level to 1748/1760 with a higher 1739 tight stop. If I am taken long I will have a T/P level at 1767.

Silver Rolling Contract

I will now raise my buy level to 25.30/25.90 with a higher 24.85 stop. If I am taken long I will have a T/P level at 26.30.

Your Platinum Subscription intraday updates will appear here once they are published.

UPDATE

Hi Everyone

A volatile trading session so far with a number of my calls getting hit
The NASDAQ traded higher to my 14055 sell level before selling off to my 13995 T/P level and I am now flat
The S&P is no trading at three standard deviations above its mean which is not  sustainable. This move higher saw my 4206 sell level executed. We have sold off and I have now exited this position here  at 4196. I will look to sell the S&P again from 4207/4223 with the same 4235 ”Closing  Stop”. If I am taken short I will have a T/P level at  4199
Gold traded lower to my 1758 buy level and I have now exited this position here at 1761 as I still do not trust this market.
The Bund has traded the whole of my buy range for a now 170.00 average long position. I will now lower my T/P level to 170.10
The  DAX is now trading in my buy range and I am longer 15160. I no longer want to be long the DAX and I have now exited here at 15165.
Finally, Silver is trading in my buy range and I am now long at 25.75 with a now lower 25.95 T/P level.
Kind Regards
Bryan
Update 2

Hi Everyone

Since my last update the Dow traded lower to my 33750 buy level before rallying  and I have now exited this long position here at 33860
I bought the S&P at 4172 and I have now exited this trade here  at 4180
The NASDAQ traded the whole of my buy range for a 13865 average long position. I will now lower my T/P level on this position to 13880 as I want to hold on to the gains made already today after a difficult month
Earlier Silver hit my 25.95 T/P level and I am now flat
Kind Regards
Bryan
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