Tickers: SPY QQQ IWM FB AAPL TSLA MSFT AMZN GOOGL NFLX SMH DOCU COUP ARK Complex GBTC DE EWC BROS
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 – Trading Cornerstone Content
“Abandoned Knowledge and your troubles are over” Lau Tzu
Replace the word “Universe” with “Markets”. Logic rarely manifests itself in markets because markets are largely psychological beasts. Psychological entities make irrational / illogical decisions all the time. That’s why highly educated, book-smart people find trading different. If you tried to apply logic to trading last week, you either lost a lot of money or you did not make any. If that is the case, re-listen to Thursday and Friday’s video. Figure out what you were thinking so appropriate action can be taken. I’ve spoken at length on a number of topics lately that came into play last week. I suspect difficulties will gravitate to these areas.
- Abandoned Knowledge; Accept the you know nothing.
- Approach Market’s with a Beginner’s Mind. Open to any and all inputs without bias
- Project yourself as “A leaf on a stream” happy to follow the river of price where ever it cares to take you
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 Mar 21
- Monday – Bostic speaks
- Tuesday – Redbook; Richmond Fed MFG; Williams speaks
- Wednesday – Mort. Applications; New Home Sales; Oil inv; Mary Daly speaks; 20yr Bond auction 1pm
- Thursday – Durable Goods; Jobless Claims; Current Accts; PMI Composite Flash; NatGas Inv Evans / Bostic speak; KC Fed MFG; 10yr TIPs bond auction 1pm
- Friday – Consumer Sentiment; Pending home sales
Notes:
- Thomas Bravo buys $PLAN for $10.7B $66/sh 31% premium
- Buffett/ Berkshire buys Alleghany Insurance $Y
- Australia announces Alumina / Aluminum Ore export ban on Russia. Australia supplies 20-25% of Russian needs.
Can the Bulls keep Runnin?
Sentiment is still bearish but we’re up sharply in the past 3 days. THe oscillators have gone overbought ( see below ) plus price is moving into key resistance and Fib retracement levels. At this point you should be reducing longs and tightening stops. It does not mean this run is over, but i do favor a technical pull pack to relax the oscillators. Add Fibs to last week’s late week move to look for potential pull back levels. Dont get over-extended on the long side into the teeth of over bought NYMO / NAMO. THe “dont fight NYMO” axion remains undefeated.
Oscillator Update – Yellow Flags
Cautionary Posture / Borrowed time. Don’t be caught “all in ” long. Be rolling positions higher and booking profits. Ok the still be long some names, but now is the time to be scaling lower, not piling in long.
Trades about to Happen
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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