Futures Power Hour - April 29, 2024 - A Supersaturated Earnings and Macro Calendar

The tastylive network

Chris Vecchio and Anton Kulikov highlighted a mild upward trend in markets, comparing it to positive performances seen in late December, with the S&P up 13 points and Russell Indexes reflecting a 0.75% increase. Bonds also saw gains, indicating a mid-December rally vibe. Volatility decreased, with the VIX futures at around 15, suggesting a calmer market environment. The duo touched on the anticipation of Amazon and Apple earnings, alongside a packed macroeconomic calendar, hinting at potential volatility ahead.

In-depth analysis covered market positioning, particularly noting the S&P 500's shift to a net long position for the first time since October, highlighting large speculators and hedge funds buying the dip. The conversation also delved into the volatility market, bonding positioning, and implications of ongoing economic reports and meetings on market sentiment. Vecchio and Kulikov ventured into the precious metals market, specifically gold and oil, noting recent price movements and trader behaviors.

Overall, they provided a technical outlook on key financial instruments and shared personal trading strategies and perspectives, emphasizing the importance of being prepared and flexible in response to market conditions and volatility.