Morning Market Briefing – Gonna Be May

Home/Blog/Morning Market Briefing/Morning Market Briefing – Gonna Be May

Morning Market Briefing – Gonna Be May

Morning Market Briefing

Morning Market Briefing – Gonna Be May

April 30, 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 markets played an interesting game in Thursday’s session. Small gap up, strong push down in the morning to go green-to-red on the day, strong push up in the afternoon to finish green. Intraday reversals are certainly nothing new, but in the middle of an important earnings season, it can throw many traders off. AMZN capped off a couple of big tech earnings days, and although it impressed, and is up 2%+ this morning, not much else is green. Earnings will continue into the next few weeks, but most of the ‘big’ names are off the board. Today, and Monday, may tell us where the new month will take us.

Felt heavy at times yesterday despite new highs. Needs to hold $420 for next leg up.

Will use 21 EMA as first point of support.

Watch List

Symbol Why We’re Watching
BA Big recent support level at $230.
CRM Possible breakdown below $180.
WBA Possible next leg down on break of 50 SMA.
SQ Tightening price action, could break down below $240 or breakout above $250.
ZM Long term watch. Stuck in a range between $300 and $350.

YouCanTrade Scanner Ideas

Symbol Idea Direction
BUD Long
TSLA Short
CVS Long
LLY Short
MS Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Sheep of Main Street

May 4, 2021

YouCanTrade futures coach, Eric Waddell, will take a deep dive into the common pitfalls most amateur traders fall victim to with the potential to destroy their accounts. Some of the pitfalls Eric will cover include:
• Not understanding the different types of stops and how to use them
• Not understanding how to determine proper position sizing
• How 52 week highs and lows may not be as important as you think
• and more

Register Now
See all Events
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