Tickers: SPY QQQ IWM FB AAPL TSLA MSFT AMZN GOOGL NFLX SMH SBLK
Before the Bell is premarket prep for active traders. The note provides detailed stock market technical analysis focused on the indexes and FAAMGs. Key levels and trading locations are provided, along with trading plans and timely commentary to keep you on the right side of the trade.
Inspiration –
Words and advice from 2000 years ago still ring true. Trader’s, like Prizefighters, can only be champions after having been beat senseless by markets and after seeing their own blood. Some traders discover they have glass jaws and can never get up after the first shot. For the ones who get up, they do so with more resilience and determination.
Earnings
Companion Video
The video is a detailed technical review of the indexes and FATMAAN names. All the key trading levels are identified along with commentary and trade plans for each ticker. Trade ideas are also discussed. Run the video at 1.5x to maximize efficiency without loss of clarity.
Find the Companion Video HERE
Macro Data Releases Week of April 4
- Monday – Factory Orders
- Tuesday – Intl Trade #’s; PMI Composite; ISM Services; Multiple FOMC Speakers Lael Brainerd speaks 11am.
- Wednesday – Harker; Oil Inv; FOMC Minutes 2pm
- Thursday – Bullard 9am; Jobless Claims; NatGas Inv; Evans 2pm and Williams 4pm FOMC
- Friday – Wholesale inv preliminary; Rig Count
Resilient Market keeps Runnin’
The market continues to figure out a way to move higher in the face of obstacles. I guess that’s why they call it the wall of worry. Still though, I think high-valuation / unprofitable tech remains in the cross-hairs as liquidity is drained from the system. I still am clinging to the idea of JPOW and friends sitting above the market with bazookas and that when the market comes in range, they’ll be there waiting to knock it down with aggressive rate hikes and QT. The only way to bring inflation down is to knock down demand….and that is the reverse wealth effect. Even if true, where and when this starts is the question. The Pain trade is probably still higher….. until all bears are dead.
Charts of Interest.
World Container Index
Marine Shippers got hammered yesterday partially on the idea that freight volume and pricing are rolling over.
Oil Rig Count
With all the talk about Oil and the need for production, the US added 2 whole rigs last week. Nothing can happen until you stand up a rig. ……literally nothing. Rig counts are published every Friday afternoon.
Central Banks set to reduce Bond Purchases
INDEX CHARTS
A detailed walk-through of the levels and trading strategy for the indexes is given in the video ( link above) . The static charts are provided for reference. The FATMAAN names are also reviewed in the video along with trade ideas and other charts of interest.
SPY Daily
SPY 2hr
SPY 30min
QQQ Daily
QQQ 2hr
QQQ 30 min
IWM Daily
IWM 2 hr
IWM 30 min
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