Pristine Market Analysis & Watchlist 4/27

Megacap Tech Overbot?

Team,

Tomorrow is the last trading session in April! Let’s finish strong!

-Andrew

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Economic Data

Today’s session kicked off with Q1 GDP data that came in below estimates, and initial jobless claims that came in below estimates:

Treasury Selloff

Immediately after the economic data was released at 8:30 AM ET, treasuries across the curve were sold off in rather violent fashion

ZN_F 10yr treasury futures

Equity Dashboard

But equities were more than resilient, and mounted a rally of epic proportions. The Nasdaq QQQ appeared to have a mind of it’s own! Volatility was crushed.

This rally was led by megacap tech stocks META AMZN TSLA MSFT AAPL:

AMZN Earnings

After sprinting higher all day, AMZN reported the following earnings after the bell:

AMZN: EPS beat by 6c Rev Beat -- Rev $127.4B .. Exp $124.5B

The stock zipped up to $123.00 after hours, but is now trading down ever so slightly.

ES_F S&P 500 Price Action Analysis

The S&P 500 erased all of the prior two day’s price action, and finished above all of the key moving averages!

In the following sections of tonight’s update, I’ll cover my research in preparation for tomorrow’s trading session

✅ Trend Model Update - Our proprietary indicator that informs us on how aggressive/defensive to position in the market

✅Market Strategy - My trading plan

✅ Today’s Trade Blotter and Position Update

✅Daily Watchlist - We scan thousands of stocks and hand-pick the best reward/risk opportunities