Morning Market Briefing – 50 SMA Shuffle

Home/Blog/Morning Market Briefing/Morning Market Briefing – 50 SMA Shuffle

Morning Market Briefing – 50 SMA Shuffle

Morning Market Briefing

Morning Market Briefing – 50 SMA Shuffle

August 20, 2021

Good Morning!

Over the past four sessions, trader’s have apparently been eating well. Because the after lunch portion of each of those days has been fun. We’ve seen intraday reversals that completely wipe out a morning flush, or yesterday, a push to the top of the daily range before a quick sell off into the close. Worth noting the volume has been much higher during these sessions, which means the ‘big money’ is still feeling out where it want to take the markets. The 50 day SMA is now in play for both the SPY and QQQs, and neither has spent much time below that level lately, so it will be a key area for the bulls to take back control.

50 SMA on deck for the SPY.

QQQs approaching key level of $360 / 50 SMA.

YouCanTrade Coach Shaun’s Play Of The Day

Mixed bag of the QQQs and ES up and the DIA and IWM down.I am  cautiously looking at Roku over the next day or  two. It appears extended on my stochastics and the MACD  so i will be looking to do a credit put spread expiring Sept 17 if the stock is $45 or higher tomorrow around 10. I want to wait thru the market craziness of open to decide if the market is poised to rally again. The $290/285 put spread will be worth approx. 50- .60 cents in credit.

The max loss is the $5 wide spread less premium received. Max gain is the premium received it both strikes expire worthless .

YouCanTrade Coach Shan’s Play Of The Day

$ROST (Ross Stores Inc. LTP $126.58) is the off-price apparel and home fashion chain in the United States. They reported earnings growth of 21% even in comparison to 2019 for the 2nd quarter on Thursday. The stock jumped more than 2% to close the day and there is more potential for it to reach previous high of $134 or more, based on breaking through the 50EMA and 20EMA.

On the flip side, the trading volumes were not absolutely great even after those good earnings numbers and the traders might discount some Q3 forecasting numbers to Delta variant. That would lead the stock to drop up to $114 in the short run.

Watch List

Symbol Why We’re Watching
IWM Long term range being tested to the downside at $210.
ALK Selloff could accelerate below $53
AMZN Big support level of $3,200 being tested.
AMD $100 on deck after break of $105.
FL Testing 200 SMA.

YouCanTrade Scanner Ideas

Symbol Idea Direction
VZ Short
WDC Short
IBM Short
INTC Short
JWN Short

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Build your Global Portfolio with ETFs and Options

Aug 24, 2021

An exchange traded fund (ETF) is a basket of securities that can be traded on a normal stock exchange like any other stock. An ETF is a cost-effective way to make your foray into investing with lower management costs and smaller investing capital. ETFs provide you an opportunity to diversify your gamut of stocks based on different themes and investment horizon.
In this webinar, Options Coach Shan Sarkar introduces you to a new dimension of investing by selecting specific ETFs opening doors to companies across the globe to help you create a global portfolio. There are more than 300 ETFs traded on the US stock exchanges, which you could potentially tap into to build a global investment basket utilizing the expert knowledge of fund managers around the world.
Join Shan live in this exciting interactive session to learn more about global ETFs options based on ETFs and building a growing retirement portfolio.
Register Now
See all Events
YouCanTrade is an online media publication service which provides investment educational content, ideas and demonstrations, and does not provide investment or trading advice, research or recommendations. Click here to read important disclosure, disclaimer and assumption of risk information. Active trading generally, and options, futures and digital assets trading in particular, may not be suitable for all investors. Past performance, whether actual or simulated, does not guarantee or predict future results.
TradeStation Securities, Inc. provides support and training channels hosted on its affiliate YouCanTrade. Any other services offered/hosted by YouCanTrade are not sponsored, endorsed, sold, or promoted by TradeStation Securities and it makes no representation regarding any YouCanTrade goods or services.
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
CME GROUP or CME GROUP GLOBE are trademarks of Chicago Mercantile Exchange Inc. and have been licensed by YouCanTrade for use in connection with the FAST channel and the Spring Summit. Any services offered by YouCanTrade are not sponsored, endorsed, sold or promoted by Chicago Mercantile Exchange Inc. or its Affiliates and none of them makes any representation regarding any such goods or services.
Go to Top