Thursday Wrap Up 4/28

     Thursday we had another break from the free fall of the major indices. It appeared like somewhat of a short squeeze. Possibly earnings from the night before gave a little confidence to the bulls in the market. Crude started off the day without much movement until later in the trading session it jumped above $105 per barrel. Gold silver and treasury bonds' charts had strong correlations today as they climbed together as well. Bitcoin touched above 40000 briefly. Most of todays focus was after hours for earnings from Apple and Amazon. Chinese equities took a pause from the especially green day yesterday.
     What GDP data? The market had a solid green day during its big move to the downside it has been in lately. This big bounce of a day corresponded with the release of GDP data that was worse than bad expectations.

     Technically speaking today was a beautiful breakout of resistance in the very recent price channel we are in. Green days like today make trading trend breaks well worth the wait. Long options made a killing today.

     After hours the market was dragged down by some big names having a negative earnings response. Amazon, Apple, and Roku led the downturn after their earnings release.

     Interesting to note that AMZN found some support in its after hours free fall near a support level created almost a year ago.

     Roku was in a similar situation. Bouncing off of a ling term support after hours after a big dip.

     Apples earnings were interesting. They seemed to have a great earnings report but hinted towards troubles in the next quarter. Price action looked good at first but eventually everything followed AMZN down.