Tickers: SPY QQQ IWM FB AAPL TSLA MSFT AMZN GOOGL NFLX SMH ARK Complex TTD ITB
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 –
Become a master of your process. If you can latch onto a process you can faithfully and flawlessly execute on a consistent basis, many many good things will come your way. One type of trade, one stock may be all it takes. Dont lose sight of the fact that there are many many traders who never wake up wonder ” what stock am I going to trade today? They know they will be trading ES, or NQ, or Oil, or AMZN. THere is great power in not jumping all over the map chasing shiny objects.
Earnings
Some interesting ones this week including. XPENG, ASO, LOVE, MU, LULU, RH, CHWY, FIVE, PAYX, PATH,
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 28
- Monday – Intl Trade, Retail & Wholesale inventories; Dallas FED MFG; 5yr note auction 1pm
- Tuesday – Case-Shiller Home Prices; FHFA Home prices; Cons. Confidence; JOLTS; 7yr Notes 1pm
- Wednesday – Mort Appls;ADP; GDP; oil inv
- Thursday – Challenger Job Cuts; Jobless Claims; Personal income & outlays; Chicago PMI, NatGas report.
- Friday – March Jobs Report; PMI MFG final; ISM Mfg; Construction spending
FOMC Speakers scheduled everyday except Monday the 28th.
Trade it or Fade it?
I believe this rally is a kick back rally within an emerging bear market. JPOW, Yellen and Biden are all united in their resolve to crush inflation. THe way they’ll do it is to aggressively hike rates. The FOMC wants to effect a “reverse wealth affect” by impacting markets and housing. Nothing sobers up euphoric market action is to open you IRA statement and see red numbers. I think JPOW has the high ground and will be waiting to knock down any rally. I am looking for a lower high and rollover after Q1 closes. THat said i am net long but with a few hedges in case the selling starts early. Additionally, the oscillators are stretched and are at the high end of their range where reversals often happen.
New Highs vs New Lows is lacking
Both major markets have not been able to print new highs greater than new lows. Seeing these breadth measures breaking above the zero line would be one of the things you’d like / expect to see on a sustainable rally.
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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