Technical analysis of the US stock market via QQQ (Nasdaq 100 tracking ETF) & SPY (SPY 500 ETF) providing both the near-term & intermediate-term outlook. The outlook for the market-leading FAAMG stocks is also covered. There are some significant technical developments, chart patterns & key levels to watch at this time as the market could be on the verge of another sharp correction. While this video runs longer than most market updates due to the additional coverage of the FAAMG stocks, including potential price targets, probably scenarios, etc., I believe it is worth watching due to the elevated potential for another [...]
Technical analysis on the Nasdaq 100, including the market leading FAAMG stocks, followed by analysis on the semiconductor sector via SOXX, INTC & NVDA.
Since the first 3 of the FAAMG stocks (AMZN, MSFT & GOOG) reported earnings after the market close last Thursday, those leading stocks (in green) have posted the following gains as of yesterday's close: FB: +5.40% (reports after the market close today & currently indicated to gap up another 1% at the open today) AAPL: +7.8% (reports after the market close tomorrow) AMZN: +12.8% MSFT: +4.9% GOOG: +4.5% Essentially, both FB & AAPL have rallied inline with the other FAAMGs as if they also already reported & handsomely beat expectations yet they are on deck to report this week. The question [...]
We have perfect backtest of the primary uptrend line on AMZN with today's rally althoug it would take a decent sell signal on the daily and/or this weekly time frame before shorting as backtests can continue for a while at times. Note the corrections following the previous trendline breaks on this 10-year weekly chart: AMZN weekly Oct 27th AAPL (Apple Inc) is still trading above its primary bull market trendline (gray) but has been dancing along another very significant minor uptrend line (white) for the last 5 weeks, a key level to watch. As with all of the market [...]
Today will most likely see the markets trade in somewhat of a holding pattern as investors & traders alike await a slew of earnings reports from several market moving stocks. Three of the five FAAMG stocks; AMZN (Amzon), MSFT (Microsoft) & GOOG/GOOGL (Alphabet) will report earnings & provide forward guidance after the close of trading today along with two other top 10, over-weighted components of the Nasdaq 100; INTC (Intel) & AMGN (AMGN), the 12th largest component & a major player in the biotech sector, AMGN (Amgen). There's not much to add that wasn't covered yesterday: Both SPY & QQQ fell [...]
This video highlights some significant technical developments & key levels to watch in the market leading FAAMG stocks; FB, AAPL, AMZN, MSFT & GOOG/GOOGL. Collectively, these companies account for a 42.43% weighting in the Nasdaq 100 Index, just 5 companies accounting for nearly half of the returns of a 100+ stock index. In summary, the near-term outlook for all 5 FAAMG stocks at this time, based on the 60-minute charts, is clearly bearish. However, with 3 of the 5 FAAMG stocks scheduled to report their quarterly earnings next Thursday after the market closes & the other two reporting just a few [...]
Technical analysis on QQQ & the market leading FAAMG stocks; FB, AAPL, AMZN, MSFT & GOOG. note: This video was recorded before the opening bell today so the charts are reflective as of Friday's close. The playback speed can be increased via the settings icon on the lower right corner of the video to reduce playback duration.