Tickers: SPY QQQ IWM FB AAPL TSLA MSFT AMZN GOOGL NFLX SMH GLD GDX HD LOW NAMO
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 – Escape the Drama
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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
Stay Defensive
The market is in an unstable position and precarious technical posture. The Indexes and FATMAAN names are below their 40 week ema’s and 200 day ema’s. Those technical’s point toward bearish outcomes. That said, the potential for a sharp kick back rally is rising. Bearish sentiment is rising and put buying / hedging is elevated as well. That’s a ripe set up for a short squeeze. Stay on your toes here. Watch the trend lines on the charts and your levels. If price breaks above, don’t hesitate to stop out of your shorts. THe idea that we are facing a lowered liquidity pool and tougher market conditions, that in no way precludes the possibility of a sharp technical rally that could damage a trading book loaded with shorts. Remain cautious.
Oscillator Update
Bear Sentiment Reaches Extremes
Most Market Segments reaching toward Oversold
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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