To The Moon

Here is the content of this article:- The last session of the week - The main events of the week - The current market atmosphere -The levels selected for the SPX - Agenda for the coming week

SUMMARY

• Stocks rose on Thursday, but two of the three major indexes still ended the week shortened by the Easter weekend in negative territory.

The $S&P 500(.SPX)$ rose 0.4% but fell 0.1% on the week to snap a three-week winning streak.

$NASDAQ(.IXIC)$ rose 0.8% but fell 1.1% on the week, ending its own three-week winning streak.

The $DJIA(.DJI)$ rose just 0.01% on Thursday, but gained 0.6% for the week. The Dow has risen for three consecutive weeks.

MAJOR EVENTS OF THE WEEK

• NFP-US EMPLOYMENT REPORT

Even with US stock markets closed due to Good Friday, investors continued to pay attention to the March jobs report.

The U.S. economy continued to add jobs at a healthy pace in March, pushing the unemployment rate down to 3.5%, signs of a continued tightening in the labor market that could see the Federal Reserve raise rates again of interest next month...

Financial markets are reportedly tilting towards a US central bank rate hike of another 25 basis points at the May 2-3 monetary policy meeting...

Non-farm payrolls increased by 236,000 jobs last month, the Labor Department said in its jobs report Friday. Data for February has been revised up to show 326,000 jobs were added instead of 311,000 as previously reported.

U.S. Nonfarm Payrolls

MARKET SCENARIO

• Investors would not seem to believe that the Fed will keep its key tariffs high for long…

Big tech led to a rebound in stocks, which prompted respite after St. Louis Federal Reserve Chairman James Bullard said he didn't think the tight credit conditions resulting from the recent banking turmoil would cause a recession.

The blue sky scenario at the moment…The bank fire would have been contained, inflation would continue to fall and key interest rates are on a medium-term descent…but OPEC+ could make the Fed's job more difficult...

The current context would therefore be favorable to the rise, but with obvious weaknesses. Any destabilizing event could plunge investors back into an abyss of doubt...

Important Notes:

• The overall rise in the market-cap-weighted index is driven by a handful of megacap companies $Apple(AAPL)$ $NVIDIA Corp(NVDA)$ and the influences of these megacap stocks on the index overshadow the impact of the biggest losers... $SVB Financial Group(SIVBQ)$

• Gold has approached an all-time high... And investors continue to pour cash into money market funds...

Money Funds

SPX LEVELS

• SPX continues to trade trapped inside the big 3850/4200 range. Short term resistance at 4200, support at 4000.

Please find below the levels retained for the SPX (here Last week)

• Key levels: 4000 -4100

• Upper levels: 4100 – 4125 -4150 with 4200 in higher resistance

• Lower levels: 3950 – 3900 with 3800 in major support.

SPX Levels

AGENDA

• Policymakers and investors head to Washington for the World Bank and International Monetary Fund spring meetings starting Monday.

• After a decade at the helm of the Bank of Japan, Haruhiko Kuroda hands over to Kazuo Ueda also on Monday.

• Data on inflation in the United States are published on April 12.

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@TigerStars @TigerPM