Day-Trading Scenarios for Apr 29, 2026

Fed Announcement and forecast at 2:00 PM Eastern today.

Our goal, as usual is 2 to 3 good trades until 10:30 AM then wait for Fed. So far we have two winners in the bag.

Short term support is 49205.

Short term resistance is 49380.

The Dow Jones Industrial Average shed 25.86 points (–0.05%) to settle at 49,141.93. It was a mixed, choppy session. Losses in the blue-chip index were cushioned by a nearly 4% gain in Coca-Cola shares after the company posted a strong earnings beat.

WTI crude jumped more than 3% to settle near $99.93/barrel; Brent gained 2.8% to $111.26, as traders weighed the latest proposals around Iran and the Strait of Hormuz.

• The January 2026 FOMC release price sits at 49,430, which is acting as a reference resistance level. Traders are watching 50,000 as the next major resistance above, with 49,000 as near-term support.

• YM has reclaimed both the 50-day and 200-day moving averages after the April recovery rally, but is lagging slightly compared to the S&P 500, which has already breached all-time highs.

 MEGA-CAP EARNINGS (After the Close — MASSIVE)

This is the defining event for today's session. Alphabet, Amazon, Meta, and Microsoft are all reporting Q1 earnings after the market close today. Morningstar

• Three months ago, these four companies collectively announced plans to spend $700 billion on AI infrastructure this year — a 60%+ increase in capex from 2025 — raising questions about returns and free cash flow. Today's reports will be the first real accountability moment on that spending pledge.

Conclusion: If 49,000 breaks today it will be very bearish for rest of week.

MBA Mortgage Applications

 7:00 AM ET

Durable Goods Orders

 8:30 AM ET

Housing Starts and Permits

 8:30 AM ET

Housing Starts and Permits

 8:30 AM ET

International Trade in Goods (Advance)

 8:30 AM ET

Retail Inventories (Advance)

 8:30 AM ET

Wholesale Inventories (Advance)

 8:30 AM ET

EIA Petroleum Status Report

 10:30 AM ET

Survey of Business Uncertainty

 11:00 AM ET

4-Month Bill Auction

 11:30 AM ET

FOMC Announcement

 2:00 PM ET

Fed Chair Press Conference

 2:30 PM ET

<<<<<<<<<<<<<<<<<<<<<<<<<<<

DATE: 4/29/2026

TIME: 9:08 AM

HIGH: 49549

LOW: 49231

CLOSE: 49297

PIVOT: 49359

SUPPORT: 49136

RESISTANCE: 49650

SWING MAGNITUDE: 204

TIME OF COMMENT: 9:08 AM

COMMENT: For today's real-time trading calls enjoy a One Week Trial at https://www.eminiace.com/services