Tickers: SPY QQQ IWM FB AAPL TSLA MSFT AMZN GOOGL NFLX SMH LAC MP
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 – Keep it Simple Stupid
Many aspiring traders, especially those just beginning their journey, often associate their lack of perceived success as being linked to them not having the correct information or somehow they need more indicators or monitors. Nothing could be further from the truth. Here’s a few thoughts.
- Indicators:
- If you’re trying to use more than 3 indicators, it is probably hurting more than its helping. The more indicators you have the more likely it is that you’ll have conflicting signals. It doesn’t really matter which ones you choose as long as you understand and trust them.
- I know a very good trader who doesn’t use any indicators. He operates solely on Support and Resistance and he has done quite well.
- I lean on RSI and PPO for indicators but again choose indicators you understand and trust.
- Process:
- The simpler your process, the more likely it will be that you’ll consistently execute it.
- Also with a simple process, it will be easier to identify execution errors.
- If your process looks like a 20 step flow diagram it is likely too complicated to make any sense of it under live trading conditions.
- Monitors:
- More monitors wont help you make more money. All they do is present more visual information which for some, might get them even more confused.
- Nice monitors do add convenience and reduce eye fatigue.
- I operated with a single monitor for my trading until just a month or so ago when I added one. . Its allowed me to keep my trading platform open on one monitor and my charts on another. It’s been nice not to have to toggle back and forth.
- I’m still waiting for cash to roll in. 🙂
Earnings
Some interesting ones this week including. XPEV, 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 – OPEC+ Meeting; 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.
Q1 WRAP
With oil down 6% in the premarket I am going to be watching to see if the institutions rush in for more exposure before the quarter ends. Watch for added vol today on potential rebalancing and window dressing moves. I think the real challenge comes as we look ahead into April. A lot of the buy back activity will go dark ahead of Q1 earnings and there is also the potential of a surprise rate hike before the May meeting. We’ll just have to wait n see.
Market Insights
Most of the buyback programs will go dark in April so that steady underlying bid wont be available to stabilize things should the market wobble.
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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As the host of Trader’s Profit Compass, I work hard to inspire, empower, and prepare aspiring traders to face the markets with fortitude, quiet confidence and inner calm. It’s a protein-rich, sugar free environment without ego or judgement. While I can’t promise that joining our group will change your life, I’d like to think it will help your trading. Give it a spin! Nothing to lose and potentially much to gain.
Our group of aspiring traders are into active swing trading using technical analysis to find objective, high-probability, low-risk trades. Using these processes we’ve been fortunate to be winning; not perfect but winning. If that is appealing to you, join us! I’d like to think you’d benefit from the work. You’ll get premium content 6 times a week including a copy of my Daily Profit Compass, Weekend Profit Navigator, along with other actionable content delivered directly to your mailbox. You’ll even get an invite to our new trading room on SLACK.
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