Fed's Powell, Jobs Report in Focus This Week

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Our View

It’s the start of Q2 and April, so I am going to keep it light today. 

The ES and NQ are still riding a massive winning streak and have now rallied in 5 straight months. Amid that run, From the October low, they are up 28.8% and 30.6%, respectively. 

Can the ES continue going up? I think so, but don’t think it will just go straight up without some drops/pullbacks. 

This week there are 13 separate economic reports and 17 Fed governors — and Jerome Powell speaking. This is what I call a Fed overload. While there is a high level of Fed speak, the highlight of the first trading week of the new quarter will be fresh readings on job openings and wage data. The biggest headline of the week will be the March jobs report, which is due out Friday morning. 

In addition to the jobs report, there is also a high-level economic report from the services and manufacturing parts of the economy.