Daily Profit Compass Oct 29

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Tickers discussed: SPY QQQ IWM FATMAAN KMX LAD MUR LULU

The Daily Profit Compass provides stock market technical analysis for the indexes and other market moving names. 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 companion video covers  the indexes, FATMAAN names and offers several trade set ups that may be appealing to you. 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

Oscillators go Oversold

In just a few days we’ve gone from overbought to oversold on the $NYMO and NAMO oscillators.  A green day today would likely burn off the condition but just barely.  The oscillator has room to go further into oversold territory but the deeper it goes the risk / reward for staying short diminishes and the probability of bullish rip increase.

Advance – Decline Percent….on watch for the bull reversal

For this indicator, a break back above zero, gives the BUY trigger. We’ll use this as part of our read on if the market is turning.

Charts of Interest

$KMX – CarMax

$LAD – Lithia Motors

$LULU – Lululemon

$MUR – Murphy USA

INDEX CHARTS

For those interested, Last night’s Market on Close VIDEO recap provides a much more detailed analysis of the indexed down to the 30m timeframe and also includes analysis on the FAAMG  plus additional commentary on market conditions and trading posture. Here is a link if you prefer a deeper look.

Find the Market on Close Video HERE

SPY Daily

SPY 2 Hour

QQQ Daily

QQQ 2 hour

IWM Daily

IWM 2 hour

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