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Good Wednesday Morning, MPTraders! April 29, 2026-- Pre-Market Update: --- Today is Fed Day (2 PM and 2:30 PM ET)...--- Mag7 Earnings Day (MSFT, META, AMZN, GOOG after the close)...--- But the elephant in the room this morning is the continued sharp climb in the nearby June Crude Oil price to a 3-week high at 103.82, which represents a 31.5% upmove since the April 17th pullback low at 78.97 (from the 4/07/26 high at 114.
Announcing the VIX and Index/Sector Trading Elliott Wave Option Workup Tool!Those in the VIX and Index/Sector Trading Service have seen Mark and me use an Excel-based option workup tool for many years to help identify the best option strike and expiration for a given Elliott Wave setup. I originally developed this tool because I could not find one that provided multiple targets while displaying various option strikes and expiration dates in a clean, easy-to-read format, allowing for quick selection of the optimal strike and expiration that was based specifically for Elliott Wave Setups.
Carolyn Boroden and Tammy Marshall, co-hosts of the Fibonacci Markets Stocks service, shared some of their highlights this week.Carolyn highlighted a good example of what she likes to call a "Royal Setup" in the DIA."The price cluster of support came in at the 486.72-487.07 area, which included a .236 and 50% retracement along with a 1.618 extension of a prior minor swing. We ended up putting in a low directly within this zone at the 487.00 level. So when we hit the zone we always go down to a lower time frame chart for a buy trigger....
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