Tickers: SPY QQQ IWM FB AAPL TSLA MSFT AMZN GOOGL NFLX SMH ARK Complex
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 – Embrace Change
THe quote is from Dr. Brett Steenbarger, author on many books on trading psychology. Markets change over time, so the idea that we as traders can lock in on a specific process is flawed. What worked last summer may not be working today. Therefore we need to change and adapt as well. On a larger scale, be thinking of things how you can grow by making changes to the things you do on a daily basis that can hugely impact your trading, or your “real life”, or both. Maybe it’s getting up an hour earlier each day to do a better job on premarket prep or maybe its being more useful around the house by doing some laundry during the day or cooking dinner a few times a week. That will be a tangible way you can support your partner’s effort that allows you the luxury of trading.
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 Feb 22
- Monday – Holiday
- Tuesday – Case Shiller; Housing prices; Flash PMI; Consumer Confidence; Richmond Fed MFG; 2 yr Bond Auction
- Wednesday – Mortgage Applications; Redbook; 5yr bond auction
- Thursday – GDP; Jobless Claims; Chicago Fed; New Home sales; NatGas & Oil inv; 7yr bond auction
- Friday – /Durable Goods; Personal Income; Consumer Sentiment
Futures U-Turn
After a big rug pull on futures over the weekend, there has been a big premarket rally to erase much of those losses as headlines change from hour to hour. Despite the rally, it does not change the weekly charts that were reviewed yesterday and remain with a bearish tilt. For today the first order of business is to mark the premarket lows across the indexes, FATMAAN and whatever stocks you may be trading. The market has a funny way of re-validating premarket lows and highs that occur in the overnight session. Then, expect elevated vol this week not only due to headlines but also because Feb OPEX has rolled off.
Pre-Market Lows
- SPY $425.90
- QQQ $332.25
- IWM $195.50
Mark these on your charts as key levels that will most likely be validated during an upcoming regular session.
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 30min
IWM Daily
IWM 2 hr
IWM 30min
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