Tickers discussed: SPY QQQ IWM FB AAPL AMZN GOOGL MSFT NFLX TSLA TLT SMH, DKNG, JKS, EBAY
The 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
Slow week on the earnings front but still some noteworthy names. PAYX, LW, LEVI, JKS
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
Downgrades / Upgrades
Premarket GAPS
Panic Buying grips SPY & QQQ
- The FATMAAN names wake up.
- These mega cap names dominate the the indexes with their sheer market cap weighting. After months of consolidation if these emerging breakouts hold and are built upon it could portend a massive move on the indexes and individual names.
- Bullish Tailwinds
- New Highs are bullish ; not Bearish
- The run up into the next earnings cycle is usually bullish
- Seasonality: 15 of the last 16 Aprils saw price on SPY go higher
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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