US30 Intra-Week Analysis, April 30th 2024

Last week we got the expected retest of 38600 before failing to break above then returning to the 38000 level. With anticipation for this weeks FED speech and market indecision, we continued the week just ranging between those key levels. Tomorrow the feds will be discussing their stance on inflation and how they choose to respond will impact the current market sentiment. If the FEDs have a more dovish stance, fueling rate cut bets we can expect us30 to be bullish, above 38600. If they have a more hawkish stance, indicating there is more work to be done we can expect continued corrections on us30, below 37800.