Morning Market Briefing – 202What?

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Morning Market Briefing – 202What?

Morning Market Briefing

Morning Market Briefing – 202What?

January 11, 2020

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Last week was a heckuva year.

In possibly the craziest week of news we’ve seen in the past 13 months, markets yet again ended the week breaching all-time highs. We may have a pullback to start the week, however, as it is safe to say talk of a new stimulus package has been tabled for at least the next couple of weeks as congress deals with the fallout of the capitol riots. Tech in general, and social media in particular, will be much discussed over the coming months.

The good news is, coming off of those highs, we’ll have some value to the downside, and watching key areas of short term support on both the overall markets and the underlying stocks will likely be what takes up most of our Monday. Stay nimble this week, as it is likely to be a news driven market, possibly until well past the inauguration.

375-376 first area of support to watch on a red open.

Technicals will likely take a backseat to news, especially in social media, over the next couple of weeks.

Watch List

Symbol Why We’re Watching
BA Back in the news after crash.
TWTR Likely opens below 50SMA.
MSFT Needs push back over 219, could run over 8EMA.
ZM Will it make it all the way down to the 200SMA?
NVDA Long Term Watch for breakout above 550 or breakdown below 510

YouCanTrade Scanner Ideas

Symbol Idea Direction
CSCO Long
ZM Short
V Long
SBUX Long
ABBV Long

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2021-01-11T08:34:15-05:00
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