Before the Bell Nov 17

Tickers:  SPY QQQ IWM

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 

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

Due to technical issues; No Video Today

Macro Data Releases Week of November 15

  • Monday – Biden-Xi Virtual Summit; Empire MFG; Biden expected to sign Infrastructure Bill
  • Tuesday – Retail Sales; Import/Export Prices; Industrial Production; Business Inventories; Housing Index; 3 FOMC speakers; RIVN options set to open
  • Wednesday – Housing Starts; Oil inventories; 20 yr Bond Auction; 5 FOMC speakers
  • Thursday – Jobless Claims; Philly Fed; NatGas Inventory; Leading Economic Indicators; KC Fed; 4 FOMC speakers
  • Friday – Rig Count

Index Pivots

Due to technical issues, today’s premarket look is on the skinny side.  As we remain in OPEX week and looking at the price action, I think we lean bullish and look for a push into OPEX on Friday. Looking at the order flow, Call buying has remained robust in SPY / QQQ.   IWM has lagged and diminished call buying has followed. I still think the set up is bullish but definitely more to the soggy side compared to SPY / QQQ.

FATMAAN remains perky. MSFT / SMH with a nice breakouts yesterday with TSLA stabilizing as well.   Remain bullishly oriented unless the key levels break.

Market Insights

The graphics are self explanatory and come via Market Ear

More on ESG ( Energy Stops Growing )

Oil Futures Plumbing

Euro NatGas Crisis Part 2

NatGas is spiking again in Europe.  This will likely revive the transition to coal narrative. The surety of power for the winter is paramount.  THe Coal trade has been dwarfed the last month. Not sure is this is a big enough catalyst to move the coal needle but a good enough reason to keep the sector on the radar.   BTU / ARCH / ARLP    plus Met Coal  HCC

 

 

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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