Before the Bell Nov 2

Tickers:  SPY QQQ IWM FB AAPL TSLA MSFT AMZN GOOGL NFLX  SMH

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

Macro Data Releases Week of November 1

  • Monday – PMI MFG / ISM Index, Construction spending
  • Tuesday – Vehicle sales, Redbook, FOMC meeting kickoff
  • Wednesday – ADP, PMI Composite, Factory orders, ISM services, oil inventories, FED Announcement 2pm followed by presser at 2.30
  • Thursday –  Challenger Job cuts, Intl Trade, Jobless Claims, NatGas inv. 
  • Friday – October Jobs Report

Market Insights

Small Caps Breakout !!

After nearly a year of consolidation, IWM is making a move to breakout from a $23 wide trading range.  What we want to see is for price to close above $232 at 4pm Friday. Then the weekly charts will have closed and we can either confirm the breakout or need to wait another week.   What I really like on this chart is that RSI has never dipped below 50 since the covid lows and the emerging PPO bull cross just above the zero line. That is a very bullish look.

More on ESG ( Energy Stops Growing )

COP26 thumbnail.

  • World dignitaries coalesced around the idea that the recent fossil fuel price spike is horrible and the solution is to increase the urgency to speed toward the green transformation.
    • Not going to go off on the philosophy of these policies, so lets just say my believe that OIL / NatGas / Uranium / Lithium are going higher.  In the case of oil, I think we’re going north of $100.  EV / Battery stocks should also have a steady bid
    • Canada’s P.M. pledges to cap oil and gas production and “do his part” toward a greener future.
    • Oil and Gas production is a major industry in Canada.
    • Listen to the key part of his speech via Twitter HERE

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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