Morning Market Briefing – Flush

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Morning Market Briefing – Flush

Morning Market Briefing

Morning Market Briefing – Flush

May 13, 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.

The Morning Market Briefing is now five days a week! Each weekday you’ll see the analysis and watch lists that you’ve been enjoying on Monday, Wednesday and Friday, with some gradual new content and format down the line. Thanks for reading!

The markets resumed their downward push yesterday, with the SPY approaching it’s 50 day moving average for the first time since November. Early action has the markets opening green, but we’ll watch yesterday’s lows (404.79 in the SPY and 316.00 in the Qs) for further confirmation to the downside. If today’s green price action holds throughout the day, we can begin to cautiously plan out a “base & bounce” watchlist heading into next week.

Watching SPY at the 50 SMA level for short term support.

In the QQQs, not much support until the 200SMA. 50 SMA can act as short term overhead resistance.

Watch List

Symbol Why We’re Watching
DIS Retake of $180 could push back to $190 resistance.
ROKU Watch for hold of 200 SMA and push back to $350.
PTON Reclaiming the 8 EMA could push to $100
NVDA Bounce off $550 could pop back over 50 SMA.
ZM Watch for retake of $300 for push to $350.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AAPL Short
CAT Long
BAC Long
LULU Short
SNAP Short

For more information on the YouCanTrade scanner, click here. 

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