Daily Profit Compass March 31

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

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 

Earnings are winding down for this cycle but still some noteworthy names.  CHWY, BB, MCK, MU, KMX.   We’ll start getting big banks in the next week or so to kick off the next cycle.

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

 

There’s never just one Cockroach 

Discussion Topics
  • Biden presents infrastructure proposal late this afternoon at 4.30.
  • Does it strike you as odd that a $30B Family Office implodes with the market near the highs?
    • Has there ever been a time when something bad happens that the response hasn’t been “Don’t worry, we’ve got it under control” ?
    • Bear Stearns, Covid in Jan 2020 and later, and now Archegos Capital
    • IMO there are more cockroaches in the shadows.  Rising rates may be the catalyst to expose them or it may be the Pension Fund rebalancing if big funds sell off names where others are highly leveraged.   OR it may really be that its a one-off anomaly.
  • Quarter end rebalancing today.
  • Weekly Opex tomorrow; markets closed Friday
  • March Jobs number reported Friday morning; Bond market open, equities closed.
  • Market remains choppy. Be careful leaning way out on directional trades. 
  • It will be important to watch risk appetite into the long 3-day weekend

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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