Before the Bell Nov 29

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

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 earnings season is on the downhill, lots of interesting and important names this week including CRM, ZS, OKTA, SPLK, SNOW, CRWD, DG, DOCU, ULTA, OLLI, HIBB, BIG, FIVE, VEEV, PVH

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- 1.5x to reduce run time without loss of clarity.

Find the video HERE

Macro Data Releases Week of November 29

  • Monday – Pending home sales; Dallas Fed MFG survey
  • Tuesday – Redbook, Case-Shiller, House Price index, Chicago Fed, Consumer Confidence, JPOW speech 10am
  • Wednesday – ADP / PMI / ISM / Construction Spending, Oil inv.  Beige Book
  • Thursday – Auto Sales; Challenger Job cuts; Jobless Claims; NatGas inv
  • Friday – Jobs Report; Factory Orders; ISM Services

No TIME for PUTs


Lots of content in the video where I make the case not to panic here. 

THe oscillators are oversold along w/ the % avg 20ema  also reaching for oversold territory. Getting short here means you think Covid variant is going to go wild w/ more hospitalizations and deaths. 

Getting short here into the hole is  a great way to get your face ripped off. Dont fight NYMO.  We may go lower but the benefit to being short is quickly diminishing. 

What we need to do here is to watch for a fib rally that fails into resistance. That would likely relax the oscillators and give us a better entry point to potentially open longer term short positions.

Percent of Stocks above the 20ema

In each of these market segments, you’ll see that the percentage is quickly nose diving to oversold or close to it.  Much closer to a spot looking for a long entry than for wanting to load shorts.

Oscillators plunge toward Oversold

The oscillators for both the NYSE and NDX have both plunged to neg 60 or lower. THe % of stocks over their 50sma have also taken a nose dive toward oversold.  Can we go lower from here?  Sure they can, but as you can see on both NYMO and NAMO that once these hit minus 60 or lower, the down draft is on borrowed time.  To buy PUTs now ( in the hole ) is to be betting on a Covid rug pull follow-up . a recipe to get your face ripped off

Market Insights

We aren’t the only one’s focused on TSLA

 

 

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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