U.S. Equity Markets ultimately saw slight gains despite a choppy session yesterday, that witnessed plenty of two-way price action. Strength in the futures was seen pre-market after reports Google (GOOGL) is expanding its in-house chip efforts and a slew of cloud deals amid the start of the Google Cloud event. Nonetheless, a sharp-sell off in Nvidia (NVDA) hit sentiment after the open through to the European close before a late trade reversal in stocks was observed. The upside was supported by commentary from Fed’s Bostic who suggested it would be good news for the Fed if U.S. CPI is in line with expectations on Wednesday, noting if the disinflation progress continues, the Fed could bring forward rate cuts. Elsewhere, Treasuries were bid across the curve in a lack of catalysts ahead of CPI on Wednesday while the weak 3 year auction did little to prevent the upside. Crude prices slid on a lack of geopolitical escalation while Israel Defence Minister appeared to contradict PM Netanyahu noting there is still no date for the Rafah operation. FX was largely flat ahead of key risk events but the NZD outperformed ahead of the RBNZ rate decision overnight. All eyes on US CPI on this afternoon. The Fed’s Bostic (2024 voter, hawk) reiterated that he expects a slow pace of disinflation in 2024, but said that CPI coming in at consensus would be a welcome development. Although Bostic said you cannot eliminate the possibility that rate cuts move even further out, he added if the disinflation pace resumes, the Fed could pull cuts forward – a notable line from the Fed hawk. Bostic stated it is always possible Fed’s growth forecast could rise, noting demand for services is still quite high. The Atlanta Fed President also noted that right now, businesses do not expect much damage to the labour market as demand slows. However, if it seems like there is a looming cliff coming, he will then think about when it is appropriate to reduce rates. Meanwhile, U.S. headline CPI is seen rising +0.3% M/M in March (prev. 0.4%), and the annual rate is seen rising to 3.4% Y/Y (prev. 3.2%). Core CPI is expected to rise by +0.3% M/M in March (prev. +0.4%), though the annual rate of core CPI is seen easing to 3.7% Y/Y (prev. 3.8%). “Headline CPI inflation probably continued to rebound in March, but we expect the details to show that the downward trend in core inflation is getting back on track,” Capital Economics said. The upside in January and February CPI readings was underpinned by a rise in owners’ equivalent rent and core goods prices, but CapEco thinks they were one-offs, and adds that there is not much to suggest that recent disruptions in global shipping were having any significant macro impact, so CapEco expects core goods prices to continue falling. Analysts will also be watching the sub-components; in February, the Services less rent of shelter prices rose +0.6% M/M (matching the rate seen in January). Elsewhere, Oil fell 1.34% while after a volatile session, Gold closed at a new all-time high with a gain of 0.4%.

To mark my 2975th issue of TraderNoble Daily Commentary I am offering a special 2-Year Rate of Euro 2750 for my Platinum Service which includes 1 to 4 updated emails throughout the trading day to demonstrate this value, a monthly subscription over the same period would cost 4440 euro in total This offer represents a 38% discount and is open to both new and existing members. If anyone is interested in this offer can you please email me on bryan@tradernoble.com for details

For anyone following my Platinum Service it was made 260 points yesterday and is now ahead by 1273 points for April after ending March with a gain of 2113 points. February closed with a gain of 1606 points, after closing January with a gain of 3675 points. December saw a gain of 1890 points after finishing November with a gain of 1734 points. October ended with a gain of 3184 points, after closing September with a small gain of 228 points, after finishing August with a gain of 1485 points, following a small gain of 285 points gain in July, after closing June with a gain of 2683 points. May closed with a gain of 3205 points. April saw a gain of 3354 points while March closed with a gain of 6168 points. The Platinum Service made a record 9619 points last October.  Since I started this New Platinum Service in June 2015 it has averaged a monthly gain of over 1900 points. I have a YouTube Channel which contains recent interviews I have given This can be viewed by clicking HERE Please subscribe to this for new interview notification 


The S&P 500 closed 0.14% lower at a price of 5209.

The Dow Jones Industrial Average closed 9 points lower for a 0.02% loss at a price of 38,883.

The NASDAQ 100 closed 0.39% higher at a price of 18,169.

The Stoxx Europe 600 Index closed 0.61% lower.

Yesterday, the MSCI Asia Pacific closed 0.5% higher.

Yesterday, the Nikkei closed 1.08% higher at a price of 39,773.


The Bloomberg Dollar Spot Index closed 0.03% lower.

The Euro closed 0.1% higher at $1.0865.

The British Pound closed 0.1% higher at 1.2675.

The Japanese Yen rose 0.1% closing at $151.74.


Germany’s 10-year yield closed 7 basis points lower at 2.37%.

Britain’s 10-year yield closed 6 basis points lower at 4.03%.

U.S.10 Year Treasury closed 6 basis points lower at 4.37.


West Texas Intermediate crude closed 1.34% lower at $85.37 a barrel.

Gold closed 0.4% higher at $2345.10 an ounce.

This morning on the Economic Front we have no data of note from either the U.K. or the Euro-Zone. At 12.00m pm we have U.S. MBA Mortgage Applications, followed by CPI at 1.30 pm. Next, we have a speech from Fed Member Bowman at 1.45 pm followed by the Bank of Canada Rate Announcement at 3.00 pm and press conference at 3.30 pm. Finally, we have the FOMC Minutes from last month’s Fed Metting at 7.00 pm.

Cash S&P 500

My S&P plan worked well as the market sold off to my 5172-buy level with a 5161 low print. Benign comments from Fed Member Bostic saw the S&P reverse losses in the last 30 minutes of trading, to close higher on the day. Given the aggressiveness of the sell-off from the 5225-afternoon high, I incorrectly expected the S&P to close lower on the day as I did not expect a hawk like Bostic to turn dovish. This goes with my original theme that markets are not allowed to fall no matter what the news is. As a result, I covered my long S&P position at my revised 5182 T/P level, and I am now flat. With Financial Conditions as loose as they are it is extremely difficult to have a short position for any length of time. What has not changed is the absurdity of fiscal dominance. At the beginning of the year the CBO projected a $1.5 trillion deficit for 2024. With only four months into the fiscal year, the deficit is already at $1.1 trillion. And no end in sight. On Monday we saw the news that President Biden wants to forgive college debts for millions of Americans to buy votes for the November Election. War spending continues, as does interest on debt and everything else which is no surprise as the GOP gave the green light for an unlimited ceiling into 2025. I have no doubt that if CPI prints higher than expected this afternoon there will be an excuse why it is just a blip, yet Oil and Commodity prices are already out of control this year. The S&P has resistance from 5260/5276 where I will be a small seller with a higher 5291 ‘’Closing Stop’’. With the VIX falling 2% yesterday despite the increased two-way volatility, I have to raise my sell range. The S&P has strong support as last week’s low. Therefore, I will be an aggressive buyer from 5132/5148 with a lower 5119 tight ‘’Closing Stop’’.


No Change. I am still long the Euro from last week at 1.0828 with a now lower 1.0880 T/P level. I will continue to look to add to this position at 1.0768 with the same 1.0712 ‘’Closing Stop’’. If any of the above levels are hit, I will be back with a new update for my Platinum Members.

Dollar Index

The Dollar traded in a narrow range, and I am still flat. Today, I will again lower my sell level to 104.50/105.20 with a lower 105.95 ‘’Closing Stop’’.

Cash DAX

The DAX finally saw some profit taking yesterday leading the other Indexes lower. I am still flat. I will now lower my sell level to 18280/18380 with a lower 18505 wider ‘’Closing Stop’’. If I am taken short, I will have a T/P level at 18190. I still have no interest in being long the Market.


The FTSE traded in narrow range over the past 48 hours, and I am still flat. I will continue to be a buyer on any dip lower to 7810/7890 with the same 7755 ‘’Closing Stop’’. I still do not want to be short the FTSE at this time.

Dow Rolling Contract

Incredible volatility in the Dow yesterday. After the market hit my 38640 buy level I got scared that this sell-off was going to turn into a rout which it clearly did not as the market was rescued by Bostic’s change of direction, leading to a 250-point rally into the close. Earlier, I exited this long position at 38685 and I am now flat. Ahead of tomorrow’s CPI data, I still do not want to be short the market. Today, I will continue to be a buyer on any dip lower 38400/38650 with the same tight 38295 ‘’Closing Stop’’. If I am taken long, I will have a T/P level at 38820.

Cash NASDAQ 100

My NDX plan worked well as the market traded lower to my 18000-buy level before rallying 200 points. Unfortunately, I covered this position too early at my revised 18060 T/P level and I am now flat. Tuesday’s late rally came despite NVIDIA closing lower by 2% last night. The NDX has support from 17900/18050 where I will again be a buyer with the same wider 17765 ‘’Closing Stop’’ I still do not want to be short the NDX at this time.

March BUND

My latest 131.70 long Bund position worked well as the market rallied to my 132.25 T/P level and I am now flat. Ahead of today’s key CPI data, I will continue to be a buyer of dips. The Bund has support from 130.80/131.60 where I will be a buyer with a lower 130.15 ‘’Closing Stop’’. I still do not want to be short the Bund at this time.

Gold Rolling Contract

No Change. I am still short Gold at an average rate of 2334 with the same 2359’’ Closing Stop’’. I will now raise my T/P level on this position to 2328 as trying to short Gold is a challenge despite the Daily Sentiment Index positing another 93 print last night. If any of the above levels are hit, I will be back with a new update for my Platinum Members.

Silver Rolling Contract

No Change. I am still flat. I will leave my buy level unchanged at 26.80/27.50 with the same 25.95 ‘’Closing Stop’’.