Month: February 2022

This has been a wild week of earnings. Earlier in the week, we saw GOOGL report and explode and FB miss and implode. 

On Thursday we had our last big technology name report for the week. Amazon reported its Q4 2021 earnings with a small loss of revenue, but announced it will boost the price of its prime membership. 

The question now is… 

Will AMZN save the market? Or will it fail to hold this move and roll over?

The S&P 500 (ES) has a new point of control (POC) for February at $4,505. On Thursday the ES chopped at this level before flushing into the close.

The Nonfarm Payroll report is Friday morning, which will be the focus for whether the news rallies the bulls or feeds the bears.

In this video, we’ll lay out the scenarios we can expect from the market and look at setups on NVDA, SHOP, and GOOOL.

Stay Focused!

We’re starting the first week of February off with earnings and job reports that could influence the overall market. 

We’re anticipating earnings announcements for AMD and GOOGL on Tuesday, META and QCOM on Wednesday, and AMZN on Thursday. These large technology and semiconductor companies play a big role in the market, so make sure to have these events on your radar. Personally, we love to trade these names after the earnings reports, so we’ll follow up with new key levels to watch later on this week.

We’ll get a glimpse into the economic status from January from the ADP Nonfarm Employment Change report on Wednesday morning and the Nonfarm Payrolls report on Friday morning.

In today’s video, we’ll review our thesis on the market heading into the new month, specifically analyzing the daily and weekly charts on the S&P 500 (ES).

Here is our focused list:

NVDA — Could explode or dump after AMD earnings. NVDA has a big key level at $248 and if it breaks this level, we could see a reversion to the mean at $254. If NVDA stays above $240, we can expect to be bullish in the short-term. If NVDA breaks $240, we’re back at the $230 range.

SHOP — Bouncing back to major key levels. If SHOP breaks $1,050, we could see an upside rally and a reversion to the mean at $1,050. SHOP could fail to break this level and fall to $900 to a downside target at point of control (POC) at $853. Upside target for the week could be near $1,030.

Stay Focused!