Morning Market Briefing – Drifting Up

Home/Blog/Morning Market Briefing/Morning Market Briefing – Drifting Up

Morning Market Briefing – Drifting Up

Morning Market Briefing

Morning Market Briefing – Drifting Up

December 9, 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 the QQQ both made new all-time highs on Tuesday with their lowest volume (full) day in the last two months. The VIX seemed to confirm the move, at it drifted down toward its four month lows. If there’s a move down in the rest of 2020, it appears we’ll need some volume selling to get there. Traders might do well to find some recent laggard names rather than chasing new all-time highs in individual names.

Pushing toward the end of the year, it’s a good time for reflection. How much did you grow as a trader this year? What did you learn? What did you struggle with? In addition, what goals are you setting for 2021? With three weeks left to go this year, start reflecting on these questions and forming your game plan for the next 12 months.

All-time highs on very low volume. Bulls continue to be rewarded and those seeking a pullback for entries continue to be frustrated.

Similar price action to the SPY.

Watch List

Symbol Why We’re Watching
WMT Strong day Tuesday after a recent selloff
SQ Double top forming or push to new highs?
AMD Continues to see solid options action. Price hasn’t caught up. Yet.
AAPL 125 key area for next push up.
ZM Tightening price action, watch for move above 8 EMA or below 400

YouCanTrade Scanner Ideas

Symbol Idea Direction
TWLO Long
COST Long
PTON Long
JPM Long
V Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Options Trading – Strategies for a Sideways Market

Many investors understand what to do in bullish and bearish market situations, but what about when stocks or ETFs are fluctuating within a trading range? That’s when options may be the difference. After all, they offer an array of opportunities for these situations. Join Ed Modla of the Options Industry Council for a session that reveals in detail three limited-risk options strategies for sideways markets. Strategies discussed will include: Long Call Calendar Spread, Short Straddle and Long Strangle, and Iron Butterfly.

Register Now
See all Events
2020-12-09T08:19:44-05:00
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