The Moneymaker

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Trade Plan for 4/1-4/5
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Trade Plan for 4/1-4/5

Spring forward or Fall back

Julia Cordova✨'s avatar
Julia Cordova✨
Mar 30, 2024
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Trade Plan for 4/1-4/5
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Last week I went to more neutral stance but kept a 1 (of 5) 🍸 bear bias because of $NQ/Nasdaq futures showing possible bear divergence on the weekly and it’s positioning relative to my resistance levels.

However, I was open to taking longs and caught a great $RTY/small caps long on Wednesday morning into Thursday:

I took some off at daily/weekly resistance of 2125.3 and let the rest rise into Thursday where I took profit on the remainder near the highs @ 2157. 💰🏆

I put precious metals into a ‘prove it’ stance, but $GC/gold futures never fell under my weekly key of 2147.8 (yay!) and the high of week was 2256.9 vs my resistance of 2253.9.🎯  I also put oil in the same category, as I thought we could see a dip.  I took a nice short scalp off of an initial touch of 82.39, but was looking to either buy a dip or back above resistance:

Summary of Market Action Last Week:

  • The indices saw dips at the beginning of the week.  The dip buying proved to be a clear rotation from $NQ/Nasdaq futures to $RTY/small caps as $RTY led gains for the week, while $NQ settled for a slight loss.  $ES/SPX futures was essentially flat for the week and closed just a hair under all time highs.

  • $GDX/gold miners was the relative outperformer for the week.  $GC/gold futures rose impressively, but $SI/Silver futures closed just a touch over the previous week and continues to coil.

  • $XOP/oil equities continued to rise with $CL/Crude Oil futures. 

Here’s how last week closed out:

For the week ahead (04/01-04/05/24)

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