Morning Market Briefing – Announcement!

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Morning Market Briefing – Announcement!

Morning Market Briefing

Morning Market Briefing – Announcement!

May 10, 2021

Have you seen our live shows? Join us for “The Trend” each market morning at 9:00AM EST, and “Beyond the Bell” at the close. See what’s trending in the markets and find out what our traders are watching each day! Check them out on the “Insights” tab.

Happy Monday! First of all, a small but important announcement: The Morning Market Briefing is now five days a week! Each weekday you’ll see the analysis and watch lists that you’ve been enjoying on Monday, Wednesday and Friday, with some gradual new content and format down the line. Thanks for reading!

The SPY continues to make new highs, and show more day to day strength relative to the QQQ. Some bigger tech names continue to have trouble gaining multi-day upward momentum post earnings. Early trading points to a flat-to-red open in the tech sector, and we’ll see if we can get a push up moving into the afternoon.

SPY at new all-time highs yet again on Friday. We’ll use $420 price level as short term support.

QQQs gap up doji on Friday. Sitting right at the 8 and 21 EMAs. Need to retake and hold those levels to push back to all time highs.

Watch List

Symbol Why We’re Watching
AMD Nice base last week, needs 8 EMA to push up above 50 SMA.
C Strong $75 resistance break could make run at 2021 highs.
INTC Push above $58 could see $60+ on deck.
WBA Making another run at $54.50 resistance.
ZM Long term watch. Stuck in a range between $300 and $350.

YouCanTrade Scanner Ideas

Symbol Idea Direction
UBER Short
BBBY Short
USO Long
PYPL Short
M Long

For more information on the YouCanTrade scanner, click here. 

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