Morning Market Briefing – You Want To Do What?

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Morning Market Briefing – You Want To Do What?

Morning Market Briefing

Morning Market Briefing – You Want To Do What?

April 23, 2021

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.

Yesterday was a very “ho-hum”, boring kind of day in the markets. At least until news broke that President Biden was proposing a large increase on capital gains taxes. We’ll let the talking heads debate the merits of such a move, as traders we’re only concerned about the market reaction. In this case it was, predictably, not good. The markets basically threw a temper tantrum, with the NQ losing almost 200 handles over the course of the afternoon. The final hour saw some stabilization, and this morning’s early price action is slightly green, so we’re see if we can make up part of that lost ground moving into the weekend.

The $411 area / Thursday’s low is first area of support.

Nice multiday support at $334.

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Symbol Idea Direction
SBUX Long
QCOM Short
PTON Short
NKE Short
JWN Short

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2021-04-23T08:40:54-04:00
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