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
Companion Video
The video is a detailed technical review of the indexes and FATMAAN names along with a few chart set ups, open position review and cannabis 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
Stay Tactical
We are coming off of a turbulent week that was mostly driven by wild 10 year bond yields. That volatility caused skittishness on the equity side. In my opinion, now is a time to stay very tactical in your outlook and positioning.
- SPY – Price below the 8 and 20 emas and below the 385 daily pivot level
- QQQ price below the 50 ema keeps technology on the defensive and in a generally bearish posture
- IWM has been outperforming and price has remained above its daily pivot of 217.50
- Taken together the environment screams caution.
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 Daily
SPY 2 hour
SPY 30 min
QQQ Daily
QQQ 2 Hour
QQQ 30 min
IWM Daily
IWM 2 hour
$IWM 30 Min
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