Markets enter the week of April 21 at or near all-time highs following one of the fastest recoveries on record. The S&P 500 surged back to record levels last week — its third consecutive weekly gain — driven by the reopening of the Strait of Hormuz, a sharp drop in Oil prices, and strong Q1 earnings from the major banks. The question heading into this week: can the rally continue, or does the combination of mega-cap earnings, Fed Chair testimony and macro data trigger a pullback?
For our full technical breakdown of the Nasdaq 100 structureand key Fibonacci levels, read my
NAS100 Futures Analysis.
This is a high-volatility week. Markets are at elevated levels after a near-vertical rally, and several catalysts could move all five major futures markets simultaneously. Our outlook is mixed — directionally dependent on this week’s earnings results and the tone of Kevin Warsh’s testimony before the Senate Banking Committee.
For live futures prices, visit S&P 500 Futures — Investing.com.
Economic calendar data sourced from Trading Economics.
Kevin Warsh Confirmation Hearing — Trump’s Fed Chair nominee testifies before the Senate Banking Committee. His stance on rates and Fed independence will be the single biggest market mover of the week. Dovish → risk on. Hawkish → risk off.
Retail Sales (March) — Forecast +1.4% MoM. A strong print supports consumer spending and risk assets. A miss could raise recession fears.
Tesla $TSLA Earnings (AMC) — Consensus EPS $0.40, revenue $23.06B. Cybercab timeline, Optimus updates and automotive margins will drive reaction. High expectations, elevated risk.
Boeing $BA, IBM $IBM, ServiceNow $NOW, Texas Instruments $TXN — Broad cross-section of industrials and tech. Boeing results will test cyclical demand recovery narrative.
S&P Global PMIs (Manufacturing & Services) — First major read on April economic activity. Combined with Initial Jobless Claims.
University of Michigan Consumer Sentiment — Final — Inflation expectations component closely watched by the Fed.
Full technical analysis, key levels and trade setups for the week ahead:
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🇩🇪 DAX
🛢️ WTI Oil
🥇 Gold XAU/USD
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