Tickers discussed: SPY QQQ IWM FB AAPL AMZN GOOGL MSFT NFLX TSLA PTON PINS GLD GDX RGLD KL CANE JO SWKS CRUS
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.
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. Trade ideas are also discussed. Run the video at 1.25x to reduce run time.
Find the Video HERE
Upgrades / Downgrades
Jobs Friday
Not a ton of commentary to offer here. The whisper number is for 1 million jobs to be added in April. Some say 750,000, other say 2million so there is some dispersion of estimates. It really doesn’t matter. We will watch for the price reaction. A real hot number may pop rates which might be bad for gold and possibly tech which has been sensitive to rates. Let’s pick the ball up after we see the print and potential market reaction.
Got Coffee?
After a 10 year bear market in Coffee, price spent 18months basing around 95 cents. Now Price is emerging and has taken out the massive downtrend line. Monthly charts are very powerful. They show you major inflection points. Even a 50% retracement puts price at $2.00. I like coffee’s chances that it goes significantly higher. A tradeable ETF that does a decent job of tracking coffee futures is $JO. THe option liquidity is not fantastic but manageable. Be patient and use limit orders to improve your chances of a good fill. If you’re a super active trader with a decent sized account you can investigate futures, otherwise I would not attempt to trade every wiggle in $JO. Trade off the weekly chart in order to capture the meat of the trend.
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 2 hour
SPY 30 min
QQQ 2 hour
QQQ 30 min
IWM 2 hour
$IWM 30 Min
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