$AMZN and $AAPL Earnings Dictate Bull Stock Market Rally Continuance | Midday Market Minute | 4.28.22

Posted: April 28, 2022, 2:16 p.m.

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S&P and Nasdaq are in rally mode, but closing above 4295 (Monday's settlement) will give confidence to the bulls to continue ($AAPL & $AMZN after the bell). Look for old resistance to become new support.


Crude Oil is also moving through resistance, trading above $105 as of writing. Germany hopped on board with EU's ban on Russian Crude Oil, combined with a bullish EIA report yesterday lit the fire for the bids. Is $108 next?

Gold and Silver are lacking. We do like Gold over $1880. May Silver is coming off the board, with July becoming the new front month. The rumor is longs will not roll, and take their losses, but we think other wise for the July contract. Don't forget that we have the Fed meeting next week!

Cotton settled limit up, Coffee, Cocoa and Sugar all closed near their highs.

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