Tickers: SPY QQQ IWM FB AAPL TSLA MSFT AMZN GOOGL NFLX SMH AMD GLOP
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 –
The Quote is from George Soros. More hints at how aspiring traders should approach both the market and their process. Contrast that with Fintwit that largely is winning all the time. If you’re one who browses TWTR, pay attention to traders who regularly post losses. Posting losers doesnt make that person a good trader, but it does demonstrate they’re being honest with you.
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.
Animal Spirits vs. JPOW
Yesterday we saw a big resurgence in the meme stocks like AMC, GME, BBBY, NEGG and many others. THat type of market speculation is just the type of thing that JPOW wants to stamp out. I think the FOMC wants to knock down financial assets to engineer a “Reverse wealth effect” to effectuate a drop in demand. THis is turn would be expected to slow inflation. Reducing market liquidity will be integral to the process.
All that said, we’ve got a rally on our hands. THe charts will tell us when the stalls or begins to roll over. Until then, work your favorite stocks as they move higher. Take care to quickly scrape off profits when they’re available. THis is a very tactical market with rips and dips in different sectors so you’ve got to be quick. Don’t believe those proclaiming that this is an easy market to trade. It’s not. That fact puts a fine point on following the technical levels.
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.
Oscillator Update
Stretched with both oscillators at the top of the range. Keep a close eye here. NYMO / NAMO remain undefeated.
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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