Scott Redler’s Dog Bytes: Big Week for FAANG


SPX futures are flattish. A little digestive action above 4400-4420 would be impressive and constructive. If it gets and stays above 4465, there's really no resistance up to 4600 so take care if you're extra hedged.

TSLA had an awesome week. I bought some Tuesday below $800 and traders added above the $842 downtrend line. I sold mine Friday as it hit $907. I was hoping for a pullback to buy. It's up again this morning. I'd think $935-$940 will be resistance if it sees it today. I’d be careful buying now.

AMZN gave us a really big week. I had a nice call spread, sold puts, and held the stock. I sold stock Friday when it hit $3231. I'd like a dip to buy, might not get it. I sold a little premium higher for this Friday. $3350 should be a big resistance level above.

AAPL reclaimed $152 and the 200 day fast and participated in the action last week. I got caught a little short Friday for the imbalance which didn't work. I'll adjust today for that. $164.48 is pivot resistance.

MSFT didn't lead last week but it participated. Now see if it plays some catch-up. It has room to the $304 area if it wants it.

Positions Disclosure as of 3/21/2022 at 8:43 a.m. ET