Tickers discussed: SPY QQQ IWM GBTC LNG EWZ 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 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
INDEX CHARTS
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
Get inspired, empowered and prepared.
Join us!
As the host of Trader’s Profit Compass, I work hard to inspire, empower, and prepare aspiring traders to face the markets with fortitude, quiet confidence and inner calm. It’s a protein-rich, sugar free environment without ego or judgement. While I can’t promise that joining our group will change your life, I’d like to think it will help your trading. Give it a spin! Nothing to lose and potentially much to gain.
Our group of aspiring traders are into active swing trading using technical analysis to find objective, high-probability, low-risk trades. Using these processes we’ve been fortunate to be winning; not perfect but winning. If that is appealing to you, join us! I’d like to think you’d benefit from the work. You’ll get premium content 6 times a week including a copy of my Daily Profit Compass, Weekend Profit Navigator, along with other actionable content delivered directly to your mailbox. You’ll even get an invite to our new trading room on SLACK.
Registration is simple and FREE Visit our homepage HERE
