Market Analysis and Trades for 4/14

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The weekly post and for SPY 0.00%↑ and QQQ 0.00%↑ should be reviewed prior to this. Link to Market Analysis for The Week Ahead

SPY 0.00%↑

While NQ tagged its 7% down limit on Thursday, it actually left potential for a rather bullish weekly profile which had me interested in the long side if it (and bonds) cooperated on Friday. From Thursday night:

I was looking for NQ to build additional volume above 18248.75-18303 and then look to buy dips that held that spot or a quick look below and fail (LBAF). If it could then sustain above 18601-18630 it was likely to retest Thursday’s high:

We can see that the overnight session during Asia traded below 18248 but was quickly snapped up for a LBAF. It built volume above 18303 all night, came down and tested the range at the IB low which made the setup even better (a LBAF of the IB low is yet another reason to get long). The LBAF was quick and ferocious. NQ ultimately cleared 18601-18630, bid it from above, and resolved precisely to Thursday’s high.

This indeed ended up leaving NQ with a rather bullish weekly profile. The news has now come later as over the weekend Trump provided some exemptions from reciprocal tariffs that specifically benefits . . . big tech.

Will there be a gap up, and will such a gap be sustained?

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