Morning Market Briefing – The 400 Club

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Morning Market Briefing – The 400 Club

Morning Market Briefing

Morning Market Briefing – The 400 Club

April 5, 2021

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With the markets breaking out to the upside going into the three day weekend, we stay vigilant for a pullback going into the new week. The SPY broke the $400 level for the very first time, and the QQQs broke out above the recent resistance along the 50 SMA. We need confirmation in today’s session, however. Regardless of where we open, keeping an eye on the 60 min opening range and any breakout or breakdowns from there could set the tone for the week.

The breach of 400 means we keep that price area on watch for short term support.

Could see a quick 325-330 move to the upside. Using the 50 SMA as support

Watch List

Symbol Why We’re Watching
TGT Possible new breakout above $202
DIS Above $190 for next leg up.
EA Watch for breakout or breakdown at 50 SMA
JPM Could make a quick run to $160 above $156
LVS Watch for breakout above $62

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Symbol Idea Direction
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AXP Long
CAT Long
JPM Long
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2021-04-04T21:57:17-04:00
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