Before the Bell May 6

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Tickers discussed: SPY QQQ IWM FB AAPL AMZN GOOGL MSFT NFLX TSLA  GT  PTON PINS TWTR XME SWKS CRUS

Before the Bell provides stock market technical analysis for the stock market today and is 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.

Earnings 

Although we are on the downside of earnings mountain, still plenty to keep us busy.

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. Run the video at 1.25x to reduce run time.

Find the Video  HERE

Upgrades / Downgrades

Value Re-Emerges

After a kick back rally in the Momentum trade ( $MTUM ) the Value Factor has re-energized itself ( $VLUE ).    You can see this in the MTUM / VLUE ratio chart below. When the chart is falling it shows that Value is outperforming. Watch this chart. Use it to inform you of emerging trends between value and momentum factors. Rarely do the momentum and value factors work at the same time. I think value will outperform as the economy re-opens and as interest rates inevitably rise over time.

Small Cap Value Index

The $IJS is a great ETF to monitor the pulse of the Value Factor.  You can either decide to trade it directly for a basket of small cap value names or simply as a barometer, then drill down to individual names to trade. Set an alarm at $107.50 for the breakout

Goodyear is breaking out

After a nice consolidation, Goodyear is breaking out. Given the $2.50 wide consolidation, the measured move targets $21.50 – $22.

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.

SPY 2 hour

SPY 30 min

QQQ Daily

QQQ 2 hour 

QQQ 30 min

IWM 2 hour

$IWM 30 Min 

 

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