Tickers: SPY QQQ IWM META AAPL TSLA MSFT AMZN GOOGL NFLX SMH ARKF ARKG ARKK ARKW MU TGT WMT XOM
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: Guard your Emotional Capital
Value and guard your emotional capital as vigorously as you would your monetary capital. A psychologically damaged trader becomes a dangerous trader. If you feel like you’re becoming psychologically unstable, recognize it and take a healthy break. Come back to it when you feel refreshed and reinvigorated. For those who don’t know Ed Seykota is in the pantheon of Market Wizards.
Earnings
Earnings reports kick into full gear this week.
Today’s 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 July 18
- Monday – Housing Market Index
- Tuesday – Housing Starts and Permits
- Wednesday – Mortgage Applications; existing home sales; Oil inventory; 20 yr bond auction 1pm
- Thursday – Jobless Claims; Philly Fed; NatGas Inv. 10 Yr TIPS Auction 1pm
- Friday – Flash composite PMI
Macro Framework Spring / Summer 2022
Find the Blog Post HERE
Earnings Season & Bracket Trades
As earnings season kicks into gear, a reminder that this is prime time for Bracket Trades. Bracket Trades are those trades created when a stock gaps up or down from a news driven event. Bracket Trades are set up as “2nd day trades” where you alarm the high and low of the prior day’s trading range, then patiently wait for price to either break lower or higher from the range. You then follow price out of the range. I will do my best to help identify them for you, but you can easily find them yourself by doing a sort for “GAP ups” and “GAP Down” on your trading platform. I add additional filters for only stocks above $10 and at least 500,000 shares traded. You can add additional filters to cut down the sort further. Generally speaking, stocks favor continuing in the direction of the gap higher or lower.
You can find out more about Bracket Trades in the video Run the Player at 1.5x HERE.
Positioning & Sentiment remain Aggressively Bearish
All graphics from “Humble Student of the Markets”
Indexes
SPY Daily
SPY 1 hour
QQQ Daily
QQQ 1 hour
IWM Daily
IWM 1 hour
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