S&P500 ($ES_F) Seasonality:

• This week (week 19) is historically one of the weakest weeks for the S&P500 since 2004

• Over the last 19 years, the S&P500 has been green only 35% of the time during the 19th week of the year

• The average % gain/loss for $SPY over the last 19 years for this week is -0.10%

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 / $SPY): $ES_F failed to break out over 4190 - 4200 resistance zone last week, but held 4060 pivot level and and bounced on Friday. 4060 is a major weekly level and has acted as a significant pivot level for $ES_F since early February, keep an eye on this level over the next few weeks if the market fails to move higher over 4200 from here. Price action can continue to be choppy in the broadening formation (megaphone pattern shown by green trend lines), so would be cautious holding positions overnight for the time being.

• Friday’s rally failed at 4155 lower high level and volume node - this is a big level for bulls to to gain to make a higher high and confirm a short term uptrend. Over 4155 longs can target 4175, 4190, 4205+ breakout. If 4155 cannot be gained back early this week (it has failed so far), shorts can target 4135, 4115, 4095, 4060. Would watch for a bounce + potential longs in the 4095 - 4115 area if the market pulls back this week, potential shorts near 4175 - 4190 if it pushes higher.

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

• $NQ_F (Nasdaq 100 futures / $QQQ) overview: $NQ_F is on the verge of a breakout over 13300. April was a flat, choppy consolidation month for the Nasdaq, so will be watching closely for a range breakout this week. If it fails to break out, we will likely be in for more choppy price action until price breaks out of the range.

• Friday’s rally pushed over 13300 highs from FOMC, watching for a flip of resistance into potential support here near 13260 - 13330. Bulls must hold over 13225 and continue to make higher lows here to sustain the rally. 13550 is a major weekly level above if it does breakout over 13370. If it rejects 13370 and fails here, 13225 and 13110 are logical spots for a potential bounce.

• $NQ_F levels: 13010, 13110, 13175, 13225, 13260, 13300, 13370, 13550, 13700, 13800

• $TSLA: 176 key level this week, lots of confluence there 1) point of prior breakdown, 2) trend line resistance, and 3) AVWAP from swing low. Watching for a rejection near 176 for potential shorts. Will not short if it can hold over 176, can gain some serious momentum over 188.

• $TSLA levels: 146.50, 162, 167, 188

• $AMD: strong buying volume bought the dip after earnings last week, high volume possibly marking a bottom near 82. 91 is a major level above with confluence of AVWAP from local highs, may see some resistance near this level. Currently pinched in between AVWAP from swing high + low, watching for potential rejection near 91 for shorts, or a breakout and hold over 91 for longs. 91 will likely be the defining level this week.

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

• $GOOGL: consolidating in 102.50 - 108 range after rallying from the high 80’s. Looking ready for another leg up if it can gain 108, on watch for a breakout this week for potential longs. Would look for support between 100 - 102.50 if the market pulls back this week.

• $GOOGL levels: 100, 102.50, 108, 111, 113

• $UBER: gained back major levels last week after a strong earnings report beat expectations. Increased buying volume held the gap(s) up and price closed the week near the highs. Now consolidating over 36.75 after the rally early last week, holding well above previous resistance levels. On watch for a pullback to the 33-35 trend start area + AVWAP’s to build a potential long position.

• $UBER levels: 33, 35, 36.75, 38.35, 39, 40.50

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.