Morning Market Briefing – Beneath the Surface

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Morning Market Briefing – Beneath the Surface

Morning Market Briefing

Morning Market Briefing – Beneath the Surface

December 4, 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.

The SPY and QQQ both made new all-time highs for the second time in the last three sessions on Thursday, yet both showed candles of indecision. One of the things traders will be looking at going into the weekend will be the divergence between the SPY/QQQ and the VIX. Volatility hasn’t shown much strength this week, but it hasn’t shown weakness either. If the markets gain strength into the weekend, and make new all time highs yet again, we’d like to see a corresponding move down in the VIX.

This year, we’ve already seen a couple of instances where the VIX either stays flat or even moves up as the markets make new highs, and acts as a leading indicator  for a subsequent down move in the SPY.

Another run at all time highs and a sharp sell off into the close gave us a doji on the daily.

Very similar action to the SPY, with today’s candle maybe signaling the next move.

Watch List

Symbol Why We’re Watching
AMD Bearish engulfing candle, watch for possible move to 8EMA
CAT Possible long trigger at 175
MSFT Range bound between 210 and 218.
NVDA Multiple rejection of 540 level
ROKU Will they get a deal done for HBO Max?

Upcoming Earnings

Symbol Date
BIG Today
GCO Today
HTHT Today
Watch this space on Monday for trade ideas directly from our scanners!

Upcoming Event

My Goals for 2021 and How to Set Yours

December 8, 7:00 PM EST

To state the obvious, 2020 was a wild and crazy year, and it’s not quite over. As we wait to see if the murder hornets make another appearance on the 2020 stage, it’s the perfect time to begin to think about your trading goals for 2021.
In this webinar, Two Roads Trading Head Coach Matt Hensley will look back on his 2020 trading goals and set a few for the upcoming year. He’ll look back at some of his goals over the years and the process he goes through when setting new ones.

You will learn:

  • The difference between performance based and learning based goals, and how to determine which is right for you
  • Matt’s goals for 2021 and how you can follow his progress
  • How first year traders can set achievable goals to avoid frustration
Matt Hensley
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