Daily Profit Compass Oct 19

Tickers discussed: SPY QQQ IWM  FATMAAN names,

The Daily Profit Compass provides a technical review of the stock market today. Key levels and trading locations for the indexes are provided, along with trading plans and timely commentary to keep you on the right side of the trade.

Earnings 

Earnings Season really starts accelerate this week.  NFLX / SNAP Tuesday AH;   TSLA/CMG / LRCX Wed AH; Airlines / Homebulders and INTC Thursday.  AXP Friday

 

Companion Video

The 20 min companion video covers the indexes and FATMAAN names. Key Trading levels and trading plans  along with timely commentary to keep you on the right side of the trade.

Find the Video HERE

 

Market Snapshots

Gamma Guru Charlie McElligott from Nomura is focused on SPX 3389 and QQQ 284 as places where a “gamma flip” is likely to occur.  In this case, a flip would force dealers to SELL in order to maintain a neutral position whereas now, they are forced to BUY to maintain neutrality on their books.  This gamma -flipping phenomenon has been exacerbated and thrust into the spotlight due to the rampant call buying by both institutions ( think Softbank whale )  and retail ( generic Robinhooders ) who are using weekly options to target the fast money names.

 

INDEX CHARTS

SPY 2 hour

SPY 30 min

QQQ 2 hour

QQQ 30min

IWM 2 hour

IWM 30 min

 

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