Morning Market Briefing – Where’s the Beef?

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Morning Market Briefing – Where’s the Beef?

Morning Market Briefing

Morning Market Briefing – Where’s the Beef?

January 15, 2020

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.

As we move into Friday, we’ve seen an unusual market so far this week. Typically, January volume is robust. This week has been anything but. Perhaps waiting out any COVID news, or to see if the new admin will be able to pass their stimulus, the larger volume we’ve come to expect this time of year as the big boys build out their positions for Q1 isn’t really there. Of course, we’ve come to expect the unusual over the past 12 months.

A reminder the markets are closed on Monday for MLK day, and YouCanTrade will be closed as well.

Very tight price action on the week. Rounded top in the making?

Back below short term support at 315.

Watch List

Symbol Why We’re Watching
AMD Coming into support at 90.
FB Closed below 200SMA for first time since April.
FDX Consecutive closes over 8EMA
ZM Strong week so far, if it holds the 21, could run to the 50SMA
NVDA Long Term Watch for breakout above 550 or breakdown below 510

YouCanTrade Scanner Ideas

Symbol Idea Direction
AXP Long
CRM Short
LUV Long
IBM Long
COST Short

For more information on the YouCanTrade scanner, click here. 

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2021-01-15T08:00:48-05:00
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