Seven Wins Made This One of Our Best Weeks By Larry Benedict, Editor, The S&P Trader Hey traders, Larry here with your weekly update… After a challenging period for The S&P Trader, it was great to get things back on track. Last week’s seven wins made this one of our best weeks ever. We put $30.02 (or $3,002 on a one-contract basis) back into our account. For the year, we’re now down just $1.04 (or -$104 on a one-contract basis). So we’re only one winning trade away from building up profits once more. This great result also came in an especially tricky period in the market. As I’ve written recently, there’s a battle playing out over interest rates. Despite persistent inflation and a healthy economy, the Federal Reserve surprised many on March 20. It reconfirmed that three rate cuts were still in the cards in 2024. (To be fair, the Fed’s call was a split decision.) But then we saw a series of strong economic data releases. This included nonfarm payroll beats, lower unemployment, and an expanding manufacturing sector. And as we discussed two weeks ago, that came on top of a strong oil price (already up 20% for the year). Copper and industrial metal prices also surged. That adds more pressure to already strong commodity inflation. This all forced the Fed to walk back its proposed rate cuts in less than a month. We’ve also had mixed reactions to earnings so far from some of the biggest-gaining stocks over the past year. For example, Alphabet (GOOGL) gapped higher off its big earnings and revenue beat. It also introduced its first cash dividend. But others like Meta Platforms (META) and Netflix (NFLX) have tanked. That’s despite beating both earnings and revenue forecasts. In META’s case, its big artificial intelligence spending and weaker Q2 sales guidance caused it to gap lower. And NFLX decided to no longer report quarterly subscription numbers. That made investors suspicious about its future growth. It shows how sensitive the market has become to potential weaknesses in stocks. Adding to the muddle, Tesla (TSLA) actually rallied despite a sea of bad news. It missed both revenue and earnings forecasts due to lower electric vehicle sales. All these factors are creating an elevated level of uncertainty. And they’ll continue to play out in the market in the weeks and months ahead. Now let’s look at our trades last week… 
As mentioned, this was one of our best weeks for The S&P Trader. Our seven winning trades brought us $30.02 in premium ($3,002 on a one-contract basis). We’re now down just $1.04 (or -$104 per contract) year-to-date. If all goes well, we should be solidly back in the green soon. This week, I’ll be watching the market closely and the Fed’s meeting. We’ll carefully maneuver in case of any surprises. In the meantime, if you have any questions, you can send them to feedback@opportunistictrader.com. I’m always glad to interact with readers. Regards, Larry Benedict
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