Morning Market Briefing – Eye On The Skies

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Morning Market Briefing – Eye On The Skies

Morning Market Briefing

Morning Market Briefing – Eye On The Skies

July 1, 2021

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Good Morning! The markets largely held serve on Wednesday, as both the SPY and the QQQs breifly reached to new highs before settling into Tuesday’s ranges. For the first time in quite awhile the travel sector showed signs of upward life. The airlines, such as AAL, ALK, DAL, LUV, etc, showed at least a temporary slowdown in selling, which could (finally) set up a buying pattern as we move into the long weekend. Additionally, the destination names, like, LVS, MGM, MAR, etc, showed even more strength across the board. We still need to be careful, as some major fundamental pressures still weigh on these industries, and keeping an eye on international travel announcements is a must if you’re trading these names.

SPY holding for now, we’ve got one eye on new highs and another on the possible beginnings of a rounded top.

A (mostly) inside day in the QQQs, so we’ll wait and see what Thursday has in store for us.

Watch List

Symbol Why We’re Watching
KHC Watch for push above $41.
AMAT Potential breakout play if it confirms above $142
CSCO Possible run if it can reclaim $53.30.
STX Watch for push above 8 EMA for next leg up.
LOW Needs confirmed break of 50 SMA for next leg up.

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Symbol Idea Direction
BA Short
INTC Short
HD Long

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