Morning Market Briefing – Bulls on Parade

Home/Blog/Morning Market Briefing/Morning Market Briefing – Bulls on Parade

Morning Market Briefing – Bulls on Parade

Morning Market Briefing

Morning Market Briefing – Bulls On Parade

August 25, 2021

Good Morning!

Markets made new all-time highs yet again yesterday, albeit with smaller candles and lighter volume. Important to note the SPY has seen its volume move down nearly 20 million shares per day since the push off the $360 level. That strong three day move likely points to another rest day today. We may even (gasp!) pull back just a little. But it appears we’re fully back into bull mode as we reach the end of summer and move into Labor Day, which is the traditional end of the “sell in May and go away” axiom. Market internals have been giving good insights the last couple of weeks, so we’ll continue to keep an eye on the ADD, TICKS, and VIX.

$447 first support level for SPY

QQQs have $370 as initial support.

YouCanTrade Coach Shaun’s Play Of The Day

All is good in the world today. I’m thinking, BUY BUY !  The markets appetite for risk was in full force today .
Todays trade is in FCEL . I am looking to put on a broken wing butterfly.I am going to Sell to Open the 7 strike and Buy to Open the 4 put and I am going to Sell to Open the 7 call and Buy to Open the 8 call expiring Oct 15 .  i should get around $1.50 credit when trade is filled . Max loss is $3 width of my put spread less premium received. Max profit is premium received if stock closed right at $7.00.

YouCanTrade Coach Shan’s Play Of The Day

$CPRT (Copart Inc. LTP $141.40) is a global leader in online vehicle auctions. The stock returned more than 40% during last 52 weeks and was up by $1.80 on Tuesday. It recently went below 50EMA and now it is rising back breaking through 20EMA and 50EMA in the charts. With RSI, Stochastics and MACD back from oversold and now pointing higher, the stock is poised to achieve new heights. The stock is due for earnings report on Sep1 and in the meantime it could reach to the previous high of $149.07 for the time being.

On the downside, since technically it’s still below 50 EMA, the same could become an immediate resistance and the stock could fall below $136 as well with no immediate support available. Even after the earnings, a less than impressive show could cause it hammer down once again.

Watch List

Symbol Why We’re Watching
PYPL Could make quick move to 50 SMA on break of $280.
FB Needs to reclaim and hold $367 for run to highs.
SFIX Potential Snapback trade.
ROKU Could pop if it gets above both $360 and 200 SMA.
FB $367 needs to break for push to new highs.

Upcoming Event

The Biggest Mistake I Made in My First Year of Trading (And How I Corrected It)

September 7th, 2021

Almost every new trader has to pay their tuition. Sometimes in money, sometimes in time, but usually plenty of both. Join Options Coach Matt Hensley as he goes over his biggest screw up as a rookie trader and how he overcame it. This will be a fun, light conversation about the attitude we bring into our trading career and how it often works against us. All interested parties who attend will receive Matt’s Mental Trading Checklist.
Matt Hensley
Register Now
See all Events
YouCanTrade is an online media publication service which provides investment educational content, ideas and demonstrations, and does not provide investment or trading advice, research or recommendations. Click here to read important disclosure, disclaimer and assumption of risk information. Active trading generally, and options, futures and digital assets trading in particular, may not be suitable for all investors. Past performance, whether actual or simulated, does not guarantee or predict future results.
TradeStation Securities, Inc. provides support and training channels hosted on its affiliate YouCanTrade. Any other services offered/hosted by YouCanTrade are not sponsored, endorsed, sold, or promoted by TradeStation Securities and it makes no representation regarding any YouCanTrade goods or services.
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
CME GROUP or CME GROUP GLOBE are trademarks of Chicago Mercantile Exchange Inc. and have been licensed by YouCanTrade for use in connection with the FAST channel and the Spring Summit. Any services offered by YouCanTrade are not sponsored, endorsed, sold or promoted by Chicago Mercantile Exchange Inc. or its Affiliates and none of them makes any representation regarding any such goods or services.
Go to Top