April 30th, 2024

Good morning @everyone End of the month. This is typically my favorite day of the month to trade, and it’s especially a day I favor when the market is in an environment like it is right now. I have been openly bullish on the market over the past several sessions, and I’ve shared my reasons. (Here’s a link to watch a video I did on why I’m bullish: https://anthonycrudele.com/show/10-minute-technical-10/)

Now that it’s the last day of the month, today could be a day where the market has a chance to ramp up this rally into the close. Since we had a negative month in April in a bull market, I favor the long side in those situations. That coincides with my technical strategy being bullish, so today is all about once again trading the long side and with a chance for the last 10 minutes of the day for the bulls to step in for a ripper into the close.

This end-of-the-month strategy isn’t a quantified plan; it’s an observation I’ve made many times over the years. I am committed to managing my risk diligently and acknowledge the possibility of being wrong. Today, I plan to buy ES on dips leading up to the market’s close.

Key targets and support levels I am looking for in the indexes:

ES 5090-86 is key support. This week’s target is 5186.

NQ 17,550 is key support. This week’s target is 18,055.

RTY 1977 is key support. This week’s target is 2050.

ZN 107’26 is pivotal support. Weekly target is 109’06.

Be smart, manage your risk, but don’t be afraid to take from the market if it’s giving you what you want to see.

Cheers, DELI