Daily Profit Compass Nov 16

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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.



Companion Video

The video covers a detailed technical review of the indexes, FAAMG names, plus a few trade set ups.  Run the video at 1.25x to reduce run time.

Find the Video HERE

Charts of Interest

$GBTC – Bitcoin

I hope you got long last week if you were interested. We had a nice back test of $16. The OH path has really opened up as lateral resistance is quickly diminishing


$EWZ – Brazil Weekly

Still like Brazil long if we can find an objective spot for an entry. THe 34 week ema at $30.61 might work as a line to shoot against.

$LNG – Cheniere

An energy name for your radar. A pop above $54 moves price into a void and likely a fast move to $60.  A potential T2 is $64



SPY 2 hour

Price set to gap open higher by about 0.7%.  If all holds, price should open between $354 – $357.  Be aware of the gap below and the potential for a quick gap backfill. If price is able to take out yesterday’s high at $357 traders can follow price long w/ a stop just below and look for $359 as a first target.

SPY 30 min


QQQ 2 hour

Like SPY, price set to open higher, just above $290. To my eye, $290 is still the pivot. If price can hold that level traders can be long against it.  Below $290 favors another trip to $287

QQQ 30 min

IWM 2 hr

Price recovered the $170 level into the close and is set to open near the top of the box at $172.  Therefore, no changes to the game plan. Short below $170 for a potential gap fill, and long above $173 for a potential run to the prior high at $177.   Traders are welcome to trade the $3 range between $170-$173 as see see fit.

IWM 30 min

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