Scott Burrill - Market Notes

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An Information Deluge This Week

Apr 28, 2019

Good Evening:

This week is filled with many potential catalysts including the Employment Situation Report to an FOMC Meeting and Fed Chair Powell's Press Conference following last week's strong GDP Report.

Not to mention, this is the peak week for Earnings Releases, including FAANG stocks AAPL and GOOGL, and many more.

With this many potential catalysts, it's not surprising to see the Weekly Option Implied Move higher at + / - 37 points or 12.5% Implied Volatility in the SP500.

While Trends remain Up, and a strong Bullish Bias is in effect, given the potential catalysts, it's highly probable the SP500 stalls at 2949.25. If this fails to occur on a breakout, then 2968.75, 2988.25 and 3000 are in play. A downside break should stabilize at 2910.25, 2900.50 and 2890.75.

Updated 4-hour Levels.

Have a great week.

All the best,

Scott

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