Before the Bell Dec 31

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Tickers:  SPY QQQ IWM FB AAPL TSLA  AAPL AMZN NFLX GOOGL SMH

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 – Work on Yourself

As we head into the new year its a time where most take some time for reflection and make plans for the year ahead. As you do that, keep in mind the universal truth that everything begins with you. Change first begins in the mind, then to action on a daily basis. Then as you implement those changes each day, those actions become habits.  As I look at my trading, almost all of the wounds are self inflicted.  Lack of patience, greed, the need to want to be right, stubbornness etc.  I think we all know what to do, but forces within us over-ride that knowledge and we revert to base instincts that in most cases are detrimental to our trading results.  So as you look forward to 2022, I encourage you to identify the issues and work on them vs hunting for a new system.  That is where you’ll make real progress. And if you get stuck, ask for help.

 

Earnings 

No Earnings this week.

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 1.25x- 1.5x to reduce run time without loss of clarity.

 Find the Video HERE     

Macro Data Releases Week of Dec 27

  • Monday –
  • Tuesday – Case Shiller; House Price Index; Richmond Fed
  • Wednesday – International Trade figures; Retail & Wholesale inventories; Pending home sales; oil inventory
  • Thursday – Jobless Claims; Chicago FED; NatGas inventory
  • Friday – Nothing

Happy New Year !! 

Today is the big quarterly option expiration where a lot of gamma will be rolling off for next week. Although we have a full session today, there are many traders off the desk for the holiday. THis is  recipe for added volatility with a low liquidity situation. If you’re committed to trading till the bitter end, there may be a chance for a good lottery play for an outsized move in either direction. Only play with what you are happy losing.

THe Santa rally technically ends on Tuesday of next week. After the gamma rolls off, the market will have an easier time finding new levels.  Let’s see how today plays out and the year wraps up.

Re-Visiting the Oscillators and Breadth

THe NYSE has been stronger than the NASDAQ.  You can see it clearly on the % of stocks over the 50ema. On the NYSE it is hovering near 50% while on the NASDAQ it is only around 30%.

NASDAQ Oscillator and % over 50ema

NYSE Oscillator and % over 50ema

 

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 2 hour

SPY 30 min

QQQ 2 hour

QQQ 30 min

IWM 2 hour

IWM 30 min

 

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As the host of Trader’s Profit Compass, I work hard to inspire, empower, and prepare aspiring traders to face the markets with fortitude, quiet confidence and inner calm. It’s a protein-rich, sugar free environment without ego or judgement. While I can’t promise that joining our group will change your life, I’d like to think it will help your trading. Give it a spin!  Nothing to lose and potentially much to gain.

Our group of aspiring traders are into active swing trading using technical analysis to find objective, high-probability,  low-risk trades.  Using these processes we’ve been fortunate to be winning; not perfect but winning. If that is appealing to you, join us!  I’d like to think you’d benefit from the work.  You’ll get premium  content 6 times a week including a copy of my Daily Profit Compass, Weekend Profit Navigator, along with other actionable content delivered directly to your mailbox. You’ll even get an invite to our new trading room on SLACK.

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