FIRST Bell BELL
Pre-Market Intelligence for Futures Traders
ISSUE #001  ·  APRIL 20, 2026
/NQ
+0.20%
/ES
+0.23%
/GC
$4,791
/SI
$79.85
VIX
17.28
Overnight Look

The S&P hit all-time highs last week and NQ is grinding higher this morning — quiet, controlled, almost boring. That's not a bad thing. The Iran ceasefire is holding, oil cratered 11% on Hormuz reopening, and the VIX is sitting at a comfortable 17. The war premium is leaving the tape and the bulls are stepping back in. Enjoy the calm — weeks like this don't happen often.

Data Slate
TODAY — MON APR 20
Market Open
Light calendar — let price lead
WEEK AHEAD
Tue — ADP Employment
Thu — Jobless Claims + PMI
Fri — UMich Sentiment
Today's Play for First Bell

Mild bull day is the read. Overnight is green, the tape is calm, and there's nothing on the calendar screaming volatility. I'm setting up a tight straddle at the 9:30 CT open — let the first few minutes give me a direction and then I'm riding whichever side breaks clean. Expecting a controlled grind higher through the session, nothing explosive. Days like this are about simplicity — take the clean entry and don't overstay your welcome. One good trade beats three mediocre ones every time.

RANK TRADER YESTERDAY'S CALL P&L
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Prop Tip
💡

Low volatility days are where funded accounts are rare this year. When there's no obvious catalyst, newer traders force trades out of boredom and end up chopping themselves to death. On a day like today — mild bull, tight range — your job is simple: wait for the setup, take it once, and walk away. If it doesn't come in the first hour, it's okay to do nothing. Doing nothing is a position too.

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This is not financial advice. Futures trading carries a high risk of loss. Do your own research.  ·  firstbelldaily.com

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