Daily Profit Compass April 30

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

Daily Profit Compass 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 

Mega Earnings week for MegaCap Tech.   TSLA / MSFT / FB / AAPL / AMZN all report this week plus notables UPS / GE / MMM / V / BA / SPOT / CAT / MCD / XOM / CVX    Plenty to keep us busy this week.

April Earnings Preview

While not comprehensive, the calendar highlights most of the big names scheduled to report this month beginning next week with the money center banks.

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

OMG Amazon

Amazon put up an absolutely gaudy earnings report last night and joined many of its other megacap tech peers that blew away earnings.  THe stock popped, but not crazy.  Many folks are wondering if it gets better than this with re-opening on the horizon.  MSFT / NFLX / TSLA / AAPL all had bearish earnings reactions and those are holding QQQ back. As you’ll see below, the Q’s need to take out $342 where its been pinned below for a few weeks.  For today, watch for a potential fade on Amazon. Pundits familiar with Amazon say Jeff Bezos and his ex-wife always sell shares after earnings. Could put pressure shares in the days ahead.  Many were disappointed that Amazon has not followed AAPL and TSLA to split the stock.

Tons of Bracket Trade Set ups

Tons of gaps out there to watch / trade.  In addition to several of the FATMAAN names with gaps to fill, I review TWTR, PINS, SWKS, WDC and PTON that have well-defined set ups.

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 2 hour 

QQQ 30 min

IWM 2 hour

$IWM 30 Min 

 

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