March 15, 2024Delivered at 8:30 AM ET

Pre-Market Trading Report

Your comprehensive guide to today's pre-market activity and trading opportunities

Market Overview

Futures Activity

S&P 500 Futures+0.4% (+18.5 pts)

NASDAQ Futures+0.6% (+95.2 pts)

Dow Futures+0.3% (+125.8 pts)

Key Drivers

• Strong tech earnings from major companies
• Positive economic data from Asia overnight
• Fed officials' dovish comments yesterday
• Oil prices stabilizing after recent volatility

Today's Key Events

10:00 AM ETFed Chair Powell Speech

10:30 AM ETConsumer Confidence Index

2:00 PM ETFOMC Meeting Minutes

4:30 PM ETWeekly Oil Inventories

Market Sentiment

Bullish

Risk-on sentiment driven by strong earnings and dovish Fed expectations

Top Pre-Market Movers

Top Gainers

AAPLApple Inc.

+3.2%

$178.45

Catalyst: Q1 earnings beat expectations with strong iPhone 15 sales and services growth

NVDANVIDIA Corp.

+2.8%

$925.30

Catalyst: New AI partnership with major cloud provider announced

MSFTMicrosoft Corp.

+1.9%

$418.25

Catalyst: Azure cloud revenue growth exceeded analyst estimates

Top Losers

TSLATesla Inc.

-2.1%

$172.85

Catalyst: Analyst downgrade citing delivery concerns in China market

METAMeta Platforms

-1.7%

$485.20

Catalyst: Regulatory concerns over new AI initiatives in Europe

NFLXNetflix Inc.

-1.3%

$605.45

Catalyst: Subscriber growth concerns following competitor launches

Key Trading Opportunities

Bullish Setup: Technology Sector

Strong momentum following earnings beats. Watch for continuation patterns in cloud computing and semiconductor names.

Entry: Above yesterday's high | Target: +3-5% | Stop: -2%

Bearish Setup: Energy Sector

Facing pressure from inventory data. Potential reversal setup near key support levels around $75-76 for XLE.

Entry: Below support | Target: -2-4% | Stop: +1.5%

Range Play: Financial Sector

Banking stocks consolidating ahead of Fed decision. Look for breakout above $35.50 resistance in XLF.

Range: $34.20-$35.50 | Breakout target: $37.00

International Markets

Asian Markets

Nikkei 225+1.2%

Shanghai Composite+0.8%

Hang Seng+0.6%

Positive sentiment on China stimulus hopes

European Markets

FTSE 100+0.5%

DAX-0.3%

CAC 40+0.2%

Mixed performance on ECB policy uncertainty

Commodities & Crypto

Gold-0.4%

Crude Oil+0.7%

Bitcoin+2.1%

Risk-on flows supporting crypto and oil

Technical Indicators

S&P 500 Technical Analysis

RSI (14)62.5 - Bullish

MACD SignalBullish Crossover

50-day MA5,145 (Support)

200-day MA4,985 (Strong Support)

Key Levels

Immediate Support5,180

Key Support5,145

Immediate Resistance5,280

Key Resistance5,320

Market Breadth

Advance/Decline Ratio2.3:1 (Bullish)

New Highs/Lows245/18

Up Volume %68%

McClellan Oscillator+45 (Positive)

Volatility Metrics

VIX14.2 (Low)

VIX9D13.8

Term StructureContango

SKEW125 (Normal)

Options Market Analysis

Options Flow

Put/Call Ratio0.85 (Slightly Bullish)

Total Volume28.5M contracts

Call Volume15.8M (55%)

Put Volume12.7M (45%)

Unusual Activity

AAPL Mar 180 CallsHeavy buying

SPY Mar 520 CallsLarge block

QQQ Mar 440 PutsProtective buying

Implied Volatility

SPY 30-day IV16.2% (Low)

QQQ 30-day IV18.5% (Low)

IWM 30-day IV22.1% (Moderate)

IV Rank (SPY)25th percentile

Key Insights

• Low volatility environment favors premium selling
• Term structure in contango suggests calm ahead
• Unusual call activity in tech names
• Protective put buying in growth stocks

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