Morning Market Briefing – Afternoon Avalanche

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Morning Market Briefing – Afternoon Avalanche

Morning Market Briefing

Morning Market Briefing – Afternoon Avalanche

March 19, 2020

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Yesterday seemed to start off as any other day, until all the people whose only job is to hit the ‘buy’ button decided to take the afternoon off. Both the QQQ and SPY rolled nearly five full points in the last three hours, and with the markets flat-to-slightly-green this morning, it could set up for a tense Friday heading into the weekend. Experienced traders will be waiting for first hour confirmation on the markets, and possibly full day confirmation on any trade on their watchlist.

Closed below the 8EMA, with the 21 and 390 price level as next areas of support.

Won’t confirm a bullish move until back over the 50 SMA, not much support before 300.

Watch List

Symbol Why We’re Watching
CVS Possible breakout above 75.30 price level.
ORCL 67 price level resistance on the hourly, could breakout above.
VZ Back above 50 SMA, could move back toward 200 SMA.
JNJ Price action caught between 8 EMA and 50 SMA.
DIS 192 price level / 21 EMA acting as short term support.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AMZN Short
CVS Long
DAL Long
NFLX Short
UPS Short

For more information on the YouCanTrade scanner, click here. 

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