Morning Market Briefing – Charmingly Uneventful

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Morning Market Briefing – Charmingly Uneventful

Morning Market Briefing

Morning Market Briefing – Charmingly Uneventful

November 18, 2020

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Wednesday, November 18 at 4:40pm EST  – Matt Hensley   “The Importance of Trading Psychology – Especially This Year”

Thursday, November 19 at 1:20pm EST – Eric Waddell “The Biggest Mistakes People Make When Trading Futures”

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The last two days of market action have given us little indication of where things are headed over the next couple of weeks. While some action in the ‘stay at home’ names has piqued trader’s interest, the majority of stocks have struggle to maintain any kind of momentum in either direction. In addition to lower volume across the board, options action has yielded little clue as to the next step.

Markets will be paying attention to COVID numbers going into, and coming out of, the holidays. The midwest continues to see curfews, quarantines and restrictions (oh, my), as it grapples with record high numbers. ZM, WORK, NFLX, and similar names could see renewed interest as a long, cold, isolated winter approaches.

Indecisive price action in the SPY has us watching weekly highs / lows for our next clue on direction.

Slow, steady grind up in the QQQ eased a bit yesterday on the lightest recent volume in the index.

TSLA with a big pop and partial retrace after news of it’s addition to the S&P 500.

Watch List

Symbol Why We’re Watching
PTON Long lockdown winter leads to more expensive bike purchases?
TGT Retail earnings surge headed into the holidays
TSLA Huge pop on news of joining the S&P 500
AAPL the $120 area shows pivot potential on both daily and hourly charts
NFLX “Stay at home” stock has failed to rise to the occasion thus far.

Upcoming Earnings

Symbol Date
NVDA Today
LOW Today
TGT Today
PAGS Today
TJX Today

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Sarah Potter
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