S&P500 ($ES_F) Seasonality:

• This week (week 20) is historically the weakest week of the year for the S&P500 since 2004 (tied with weeks 3, 26, and 39)

• Over the last 19 years, the S&P500 has been green only 32% of the time during the 20th week of the year

• The average % change for $SPY over the last 19 years for this week is -0.63%

Upcoming News and Economic Reports:

Upcoming Earnings Reports:

S&P 100 Mega Cap Earnings this week:

Analysis and Trade Ideas:

• $ES_F (S&P500 futures): $ES_F failed to break out over 4190 - 4200 resistance zone last week, and is still stuck in the broadening formation. Price action has been consolidating in the range between 4060 (a major daily/weekly pivot level) and 4190 (resistance from earlier this year in February).

• Last week’s economic reports led to some intraday choppiness, and price stayed mostly in a range between 4115 to 4175. Theres a big volume shelf near 4135, right near Friday’s close level. Price action will likely continue to be somewhat choppy in the range, and would watch for a loss of 4115 for swing shorts, or a gain of 4175 for swing longs. Will be looking for more scalps off key levels this week, as we are starting to see a bit more intraday volatility and movement again.

• $ES_F levels: 4060, 4095, 4115, 4135, 4155, 4175, 4190, 4205, 4255, 4290

• $NQ_F (Nasdaq 100 futures): $NQ_F is trying to hold a breakout over 13300. April was a flat, choppy consolidation month for the Nasdaq, so will be watching for the range breakout to hold this week.

• Last week $NQ_F saw some intraday choppiness due to economic reports, but still held over ~13300 breakout level. Price dipped into the end of the week, so will be watching for 13325 level to hold for potential longs to start this week. Under 13260 falls back into the range and invalidates the daily range breakout, this level needs to hold for bulls this week.

• $NQ_F levels: 13110, 13175, 13225, 13260, 13300, 13325, 13370, 13400, 13430, 13490, 13550, 13700, 13800

• $V: Visa is consolidating near resistance and holding over AVWAP’s from swing high and low. On breakout watch for range expansion and a gain of 234 this week for potential longs. Price action is still consolidating / choppy in the range, and needs to gain and hold over 234 first for another leg up.

• $V levels: 223.80, 227.25, 234, 237, 242

• $AMD: AMD broke out over 91 resistance and AVWAP from swing high last week, and pulled back a bit toward the end of the week. Will watch for AVWAP from swing high to hold on a retest this week - if AMD holds over 91 and AVWAP from swing high, it could see a push over 102.50 this week.

• $AMD levels: 76.50, 81.75, 86, 91, 94.50, 98.75, 102.50, 104.50

• $MRVL: MRVL is getting tight against resistance and is currently pinched in between AVWAPs from swing high and low. On watch for a breakout over trendline resistance this week. 41.80 and 43.50 targets for a breakout.

• $MRVL levels: 37, 39.25, 41.80, 43.50

Good luck this week, traders!

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Disclaimer: this article is intended for educational purposes only, and is not intended to be, nor should it be construed as, financial, investment, or professional advice