Morning Market Briefing – See Ya, 2020!

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Morning Market Briefing – See Ya, 2020!

Morning Market Briefing

Morning Market Briefing – See ya, 2020!

December 30, 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.

Markets pulled back Tuesday after making new highs on Monday. We’ve seen this pattern play out several times over the last couple of months. New highs, followed by a small, but sharp pullback. Many swing traders will look only to manage positions today and into the half day tomorrow. This gives us plenty of dry powder for the new trading year starting on Monday.

From the entire team here at YouCanTrade, we hope you and your family have a Happy New Year!

Engulfing candle on the daily with initial support around the 370 level.

Showing a little more strength relative to the SPY.

Watch List

Symbol Why We’re Watching
CRM Possible base-and-bounce around the 220 level.
FDX Coming into support around the 260 level.
MSFT Rejected 225, watch for another try or possible move to 220.
TWTR Flag pattern, watch for breakout above 56 or below 54
NFLX Possible breakout above 538.

YouCanTrade Scanner Ideas

Symbol Idea Direction
EA Long
LLY Long
KSS Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Mastering Your Trading Mindset: My Awful First Year

Have you found yourself making emotional decisions in your trading? Have you learned several backtested strategies only to fail to deploy them profitably for yourself? Do you stare at the ceiling at night and wonder if you’ll ever figure this trading thing out?
I did all this my first year trading. At live events, webinars and even casual conversation with friends, I’m always asked what turned it around. During this webinar, I’ll walk through what steps I took to make myself a profitable trader after a nightmare first six months.
This special event will be light on slides, heavy on stories, with plenty of time for Q&A. And if you’re a new or struggling trader, I hope you’ll leave with a few ideas of how to get yourself on the right track.

Matt Hensley
Register Now
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