Morning Market Briefing – Broken Record

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Morning Market Briefing – Broken Record

Morning Market Briefing

Morning Market Briefing – Broken Record

July 13, 2021

Good Morning! Lately the market recap has seemed like a broken record, skipping back again and again to the same few notes. Markets went up, made new all-time highs, again and again. For example, the SPY has made new highs ten out of the last twelve days without the banking and travel sectors pulling their weight. Speaking of the banks, they kick off this quarter’s earnings season today with JPM & GS, and BAC following suit tomorrow. Big tech takes up most of the last two weeks of July, and we’ll see if this wave of numbers is the catalyst to continued highs or the first sign of a short term top. Stay Tuned!

SPY hit new highs again on Monday. $430 short term support.

QQQ briefly made new highs on Monday. $360 short term support.

Watch List

Symbol Why We’re Watching
AAL Potential breakout above 8 EMA.
MAR Options buying and a break of $143 could signal breakout.
ROKU Lots of options buying last week.
PPG Watch for potential pop above $173.
CAT Possible breakout above $221.

YouCanTrade Scanner Ideas

Symbol Idea Direction
MNST Short
BABA Short
MCD Long
BAC Long

For more information on the YouCanTrade scanner, click here. 

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July 13, 2021

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