Morning Market Briefing – First Hour Power

Home/Blog/Morning Market Briefing/Morning Market Briefing – First Hour Power

Morning Market Briefing – First Hour Power

Morning Market Briefing

Morning Market Briefing – First Hour Power

July 20, 2021

Do you watch our shows? Start your trading day with “The Trend” at 9am EST and “Beyond The Bell” at 4. Available on the front page of your member’s dashboard!

Good Morning! After very bearish moves yesterday the markets are poised to open green this morning. This is where our 60 min ranges will go into effect to help us see if we’ve hit a short-term bottom. For the uninitiated, an opening range is just that, the range a stock or index has over a period of time. A 60 min opening range is the range in the first hour. A break to one side or the other would be seen as a potential indicator of short term direction. These breaks can be various levels of importance depending on market conditions. On a day like today, they can be very important to see if we’re continuing down or reloading for a move back to highs.

The SPY and it’s test of the 50 SMA will be the story today. We bounced off that level yesterday, but on a second retest this week we may break below. A single close below doesn’t really concern us, but a second would set off some warning bells. The SPY has not had consecutive closes below the 50 SMA since November 2nd and 3rd of last year.

In the SPY, it’s all about the 50 SMA.

$355 continues to be a key level for the QQQs. Need a retest to head back up.

Upcoming Event

Swing Trading in Options

July 20, 2021

Do you mostly invest in stocks? Are you good at identifying swing trading opportunities in stocks? Would you like to learn about how you could use stock options as a strategy to try to maximize your gains?
In this webinar, Options Coach Shan Sarkar will take you in a journey of blending stock investing ideas with options trading strategies to help teach you how you might attain new heights in your investment gains. This exclusive webinar will give you a totally different perspective with investment ideas geared towards increasing your returns while reducing risk and investment duration.

Register Now
See all Events
2021-07-20T08:48:22-04:00
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