Morning Market Briefing – Gonna Be May

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Morning Market Briefing – Gonna Be May

Morning Market Briefing

Morning Market Briefing – Gonna Be May

April 30, 2021

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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

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2021-04-30T08:13:26-04:00
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