Day-Trading Scenarios for Apr 8, 2026

Oil down, Dow up. Swing magnitude factor is 310.

That means if a trader did not get long last night when the cease fire was announced, you have a tough job today.

You dont want to chase but you dont want to miss the upwaves. Because of the larger risk, cut position size down 50%.

Look for pullbacks toward first support at 47835, with low stochastics and the first sign of resumption of trend. Our advice in the trading room is to make at least 100 points on the Dow and be done for the day.

Today's upside target is 48253. If that is not hit exit the trade at 3:45 PM.

Trading opened around 47,007, with an intraday range spanning approximately 46,828 to 47,817 (or higher in extensions). The sharp upside move was driven by positive developments in U.S.-Iran ceasefire negotiations. Reports of a two-week truce agreement—contingent on Iran reopening the Strait of Hormuz for safe passage, alongside mediated talks involving Pakistan and other regional players—eased geopolitical tensions significantly. This reduced fears of broader oil supply disruptions and potential escalation involving infrastructure strikes.

Overall bias: Shifting toward Strong Buy on many timeframes, with moving averages flipping bullish (particularly on hourly/daily charts) and momentum indicators (RSI, MACD, Stochastics) supporting further upside potential.

MBA Mortgage Applications

 7:00 AM ET

EIA Petroleum Status Report

 10:30 AM ET

Treasury Buyback Announcement (Preliminary)

 11:00 AM ET

4-Month Bill Auction

 11:30 AM ET

10-Yr Note Auction

 1:00 PM ET

FOMC Minutes

 2:00 PM ET

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DATE: 4/8/2026

TIME: 9:23 AM

HIGH: 47040

LOW: 46425

CLOSE: 46812

PIVOT: 46759

SUPPORT: 47612

RESISTANCE: 48253

SWING MAGNITUDE: 310

TIME OF COMMENT: 9:23 AM

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