We have a stacked week ahead of us, with the “Super Bowl of Earnings” leading us to great setup opportunities. In the videos below, we’ll discuss the top names on earnings we’re looking at, break down the structure on /ES and /NQ, and dive into our focused list setups, including NVDA and GOOGL.
Major Earnings & Economic Events
Market Overview (/ES, /NQ)
Focused List: (NVDA, SHOP, GOOGL)
Join me live in the Simpler Day Trading room this week to cover the market. To trade these setups with me live and look for more potential opportunities in the market, click here.
There are names on our watchlist that we’ll look to enter trades once the hourly structure cleans up and our bullish criteria is met. TSLA is one of the stronger names in the market, trading back above its daily 21 exponential moving average (EMA). We’re seeing a nice push with no lower time frame sell signals. In terms of structure, this is a huge step in the right direction for TSLA, as it started trading above the weekly 21 EMA on Friday.
AAPL is in a similar structure with bullish lower timeframes as it tries to repair its weekly chart.
In the video above, we’ll observe what to pay attention to in a bearish market attempting to “add more bullish gas in the tank and apply the Big 3 signals to our SPY and QQQ analysis.
The bulls made progress this week with a slight drop on Friday. The question now becomes whether or not the markets can get back above their weekly 21 exponential moving averages (EMA). We’ll look for progress to start on the lower time frames.
Market-wide, we see names back above the daily 21 EMA, canceled-out sell signals across every timeframe, and a transition from neutral to bullish signals.
For now, we’ll wait for the next round of Big 3 buy signals to take bullish action on this dip.
In the video above, we’ll review the Big 3 signals across multiple timeframes on the major indexes, DXY, and HYG. We’ll also walk through our trades on PEP, COIN, and CSCO in the Compounding Growth Mastery this week.
I’m excited to see those of you that purchased the Big 3 indicator in the live strategy class this Saturday, July 23rd at 12:00 p.m. Central. We’ll use our Big 3 Scan to find actionable setups and break down how to use the Big 3 indicator to find A+ setups.
We’re wrapping up earnings this week with a big impact from Snapchat (SNAP). SNAP released earnings on Thursday, and the price dropped over 20% after-hours, making a new low at $11.80.
The S&P 500 (/ES) traded above significant resistance at $3,930 and is breaking through a key zone at $3,978.
If /ES stays above $3,930 and continues higher, look for the next target at $4,056. Earnings season could pull back the market to $3,920, the 50 day simple moving average (SMA). If /ES hits the 50 SMA, our next target is Point of Control (POC) at $3,857.
Keep an eye out on the Nasdaq (/NQ) with technology earnings next week.
In the video above, we’ll look at the reactions earnings is causing on /ES and /NQ, and review setups on SHOP and GOOGL.
The beginning of the earnings season starts this week. There are a few major earnings reports we want to focus on.
On Tuesday, Netflix (NFLX) reports after the close. ASML Holding semiconductor company (ASML) reports Wednesday morning, and Tesla (TSLA) reports on Wednesday afternoon. We’ll end the week with Snapchat (SNAP) reporting earnings after the close on Thursday.
The S&P 500 (/ES) is still at the major structure on the 4-hour chart dating back to March.
/ES failed at $3,900 on Monday and headed toward Point of Control (POC) at $3,828.
If /ES continues to fail, focus on our structure to the downside. Once it breaks $3,828 (POC), our first target will be $3,807 and then $3,741.
With the market being range-bound, it’s setting up the bigger picture.
The Nasdaq (/NQ) ended the session on Monday at $11,911, the daily 21 exponential moving average (EMA). Similar to /ES, /NQ could pop to $12,040, the 50-day simple moving average (SMA), fail through $11,911, and head to its next target of $11,804 (POC).
Here is our focused list:
NVDA — With ASML earnings in mind, if it holds $159, the daily 21 EMA, we want to look for a potential dip buy opportunity toward $168. If it breaks $159, our first target is $152, following $149.
AMZN — Pay attention to its structure. If it holds $113, it could pop back toward the top of the zone at $118, or it could fail through $113 toward the downside structure at $109.
AAPL — If it continues to stay under $152 the first target will be $146. The second target is the daily 21 exponential moving average (EMA) at $143, and the third target at $140.
I’ll be live in the Simpler Day Trading room from Monday to Friday this week to cover the market. Tune in to trade these setups with me live and look for more potential opportunities in the market.
Last week the bulls made progress in comparison to where the market traded on Thursday morning. On Friday, the QQQ traded above the daily 21 exponential moving average (EMA), and the Big 3 Indicator printed green signals on the 15-minute and 5-minute time frames.
The focus next week will be on names with 15-minute squeezes and a bullish Big 3 buy signal. Keep in mind we are in a downtrend, so this depends if the QQQ can hold strong and these squeezes fire long.
In the watchlist video above, we’ll review the overall market and discuss trade ideas in AAPL, TSLA, PEP, and more.
Sign up for my free webinar on Wednesday, July 20th for a full breakdown of my Big 3 indicator, how I scan for setups, and a special bonus announcement.
The bulls made progress on Friday after a big flush early into the Thursday session. This could set the tone for more upside next week. Should the market be able to grind higher, it will need AAPL and AMZN to continue leading the way.
QQQ
QQQ Daily Chart
The above chart of QQQ shows the Friday close above the 21 exponential moving average (EMA) with neutral Big 3 signals from top to bottom. While this isn’t the green light to get long, it’s a step in the right direction for the bulls. The next step is green Big 3 (buy signals) on the lower time frames. If the QQQ trades under the daily 21 EMA, the bulls could quickly lose their progress as they have many times over the last few weeks.
At the moment, AAPL and AMZN are the clear leaders in big technology, like Shaquille O’Neal and Kobe Bryant in basketball. This will have to continue for the overall market to trade higher. Both names have better structure than their peers, trading above their daily 21 EMA’s with Big 3 buy signals on the lower time frames.
AAPL
AAPL 15-Minute Chart
For AAPL, we had a 15-minute squeeze printing our buy signals late Friday afternoon. We used that as our opportunity to buy calls for next week’s expiration. The weekly 21 EMA for AAPL (and previous weekly support) is around $152. We’re looking for this to grind into that level out of this 15-minute squeeze next week.
AMZN
AMZN 5-Minute Chart
Similar to AAPL, AMZN offered a 5-minute squeeze with our buy signals Friday afternoon. This led to a great rally shortly after. So long as AMZN is going to act as leadership here, we’ll be looking for more of these “moments in time” where our favorite combo, squeezes and Big 3 signals, come together to offer great trades.
The main event this week is Options Expiration (OPEX) happening on Friday at the close.
Into the events of this week’s liquidity, the S&P 500 (/ES) got back to structure and created a double top. The /ES then dropped to the top of the zone at $3,720 and popped back to the low of the year at $3,807.
On the S&P 500 (/ES), we’re focusing on two potential outcomes. The first option is it fails at $3,807 and drops to last month’s Point of Control (POC) at $3,774. The other option is /ES could break through $3,807 to the current POC at $3,828 and hit the daily 21 exponential moving average (EMA) at $3,853.
We are observing the structure on the Nasdaq (/NQ) to see if it breaks through it at $11,804. The next target is the daily 21 EMA at $11,860. If the /NQ breaks through, it could reach theConsumer Price Index (CPI) levels at $11,978.
In the video above, we’ll break down how the major events this week impacted the market, define key zones, and observe the structure of the /ES. We’ll also review our focused list setups on NVDA, SHOP, and AMD.
There are a few catalysts heading into the short week.
The Consumer Price Index (CPI) comes out on Wednesday at 8:30 a.m. Eastern, followed by the Options Expiration (OPEX) on Friday at the close.
Pay attention to TSMC earnings on Thursday morning to watch the semiconductor sector for potential setups. On Friday, GOOGL will have its 20 to 1 stock split that will take effect on Monday.
The S&P 500 (/ES) dipped through its support structure last week and rallied to where it previously failed at $3,900. This is where we want to look for a potential double top.
With OPEX this week, we want to focus on the /ES Point of Control (POC) below $3,828 and the daily 21 exponential moving average (EMA) at $3,875. If /ES heads toward $3,828 (POC) and pops, we want to see a rip out of the structure to $3,966. If /ES breaks $3,828 (POC), our next target is $3,741.
Similar to /ES, the Nasdaq (/NQ) could have a double top and reach $11,804 (POC). Look for /NQ to drop to its structure at $11,604. If /NQ pops, it needs to get through $12,207 to hit our next target, the zone at $12,609.
Here is our focused list:
NVDA — We want to continue to look to short its structure at $152 to our next target of $146. Then look for NVDA to fill the previous gap at $149. If NVDA holds $152 and breaks through, look for a push toward $168.
SHOP — If SHOP drops this week and nears $29, be mindful of a pop toward our key zone at $34, the daily 21 EMA. If SHOP doesn’t move lower, look for a pop toward $34 at the daily mean and short at $30.
I’ll be live in the Simpler Day Trading room from Monday to Friday this week to cover the market. Tune in to trade these setups with me live and look for more potential opportunities in the market.
Last week, the bulls battled it out with the bears and made progress.
The bulls pushed the S&P 500 (SPY) and Nasdaq (QQQ) above their daily means, the daily 21 exponential moving average (EMA).
While we’re still in a down-trending market, the question becomes if the bulls continue this progress.
This week, we’re looking for bullish opportunities that can be kept short-lived. Our focus will be looking for setups with lower time frame squeezes and Big 3 buy signals while trading above their daily 21 EMA.
In the video above, we’ll review how to apply the Big 3 buy signal to our trading this week and discuss setups that “fit the bill” of our checklist, like ZM and TSLA.
