Morning Market Briefing – Happy New Year

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Morning Market Briefing – Happy New Year

Morning Market Briefing

Morning Market Briefing – Happy New Year

January 4, 2020

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.

New Year, same old all-time highs! Early morning market action points to an open at or above 2020 highs to kick off 2021. Expect a high volume opening hour as the large volume traders begin to stake out their positions to open the new year. Many retail swing traders will be slow to enter new positions in the opening hours, instead letting the big market participants tip their hand as to which way they want to start to carry the markets, with some paying special attention to options order flow over the course of the entire week.

From the entire team here at YouCanTrade, we hope you and your family have a wonderful 2021!

If SPY opens above 375, look for that to be the initial level of short term support.

Held the 312 level last week. Look for a move above 315, with a possible retest of that level as short term support.

Watch List

Symbol Why We’re Watching
AMD Held support at 90. Watch for retest of 90 or move above 8 EMA.
FDX Coming into support around the 260 level.
NKE Held 8EMA, watch for run back to 145.
NFLX Retesting 353 support in the pre market.
NVDA Long Term Watch for breakout above 550 or breakdown below 510

YouCanTrade Scanner Ideas

Symbol Idea Direction
CAT Long
IBM Long
LLY Long
WFC Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Mastering Your Trading Mindset: My Awful First Year

Have you found yourself making emotional decisions in your trading? Have you learned several backtested strategies only to fail to deploy them profitably for yourself? Do you stare at the ceiling at night and wonder if you’ll ever figure this trading thing out?
I did all this my first year trading. At live events, webinars and even casual conversation with friends, I’m always asked what turned it around. During this webinar, I’ll walk through what steps I took to make myself a profitable trader after a nightmare first six months.
This special event will be light on slides, heavy on stories, with plenty of time for Q&A. And if you’re a new or struggling trader, I hope you’ll leave with a few ideas of how to get yourself on the right track.

Matt Hensley
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