Daily Profit Compass Jan 26

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

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 

Some big guns set to report this week.

Tuesday – JNJ, GE, MMM, DHI, LMT, AMD, MSFT, TXN, SBUX

Wednesday – BA, T, AAPL, TSLA, LRCX, FB

Thursday – AAL, MCD, LUV, TSCO, MA, V, SWKS, X, TEAM,

Friday – CAT, LLY, CVX, HON, CP

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

Economic Calendar

Busy calendar this week, headlined by the FOMC meeting and rate decision Wednesday at 2pm.

  • Tuesday: Case Shiller / Home price index / Consumer Confidence / FOMC meeting begins
  • Wednesday: Mortgage Applications / Durable Goods orders / Oil inventories 10.30 / FOMC Rate decision 2pm / Powell presser 2.30pm
  • Thursday: Q4 GDP / International Trade #’s / Retail & Wholesale inventories / New Home sales / Leading economic indicators / Jobless Claims / NatGas inventories / KC fed
  • Friday: Employment cost index / Personal income / Consumer sentiment / Chicago PMI / Pending home sales

Order flow Insights

The FlowAlgo algorithm flashed a buy signals on $NOK, $CWH, and $SIRI.   We are already long $CWH and it has been performing well.  Option traders are looking for more in the name.   I view SIRI and NOK as more or less speculative names.  I took a small position in NOK Feb 4.5 calls

Pressure to Perform as Mega-cap Tech is Set to report

Not a ton of commentary here but with market averages at the highs and bull sentiment off the charts, it will be important for mega-cap tech to knock it out of the park.  I think that these companies will do well, but as is always the case, its the reaction to earnings that matter.  If there is any wobbling or wavering in these reports you’ll probably see some sizable sell offs.  Let’s see how they do and reassess once we get more info.

FATMAAN Names

In the companion video, I cover off the FATMAAN names using the daily timeframe. Some very interesting trade locations are on the horizon that will set up well for swing traders on the daily time frame.

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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