Morning Market Briefing – Highs Again

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Morning Market Briefing – Highs Again

Morning Market Briefing

Morning Market Briefing – Highs Again

December 18, 2020

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Another week, another all time SPY high. While not exaclty surging with volume, both the SPY and QQQ made new all time highs on Thursday despite making their intraday highs in the first hour.  Friday morning pre market suggests a small pullback at the open. We put the finishing touches on our last full week of trading in 2020 today, as the next two weeks have half day Thursdays and off Fridays.

This weekend is a great time to lay out your trading goals for 2021. New trader? Consider setting learning based goals instead of performance based. For example, a goal to read a certain number of book or learn a certain number of new strategies instead of trying to make a certain amount of money.

From the entire team here at YouCanTrade, we hope you and you family have a wonderful Holiday Season and a Happy New Year!

New highs but high of day came in the first five minutes. We’ll set 372.50 and 370 and short term support / resistance.

A little stronger that SPY, but same general price action on Thursday.

Watch List

Symbol Why We’re Watching
CRM Setting up for a move above 230 or below 220.
TSLA S&P addition. Possible move out of recent flag pattern.
AMZN Popped above 3,200. Meeting some resistance around 3240
PTON Early reviews of Apple’s competition coming soon.
MSFT Broke out of range. Watch for retrace to 217 before another possible run.

YouCanTrade Scanner Ideas

Symbol Idea Direction
ABBV Long
FDX Long
IWM Long
VZ Long
WBA Long

For more information on the YouCanTrade scanner, click here. 

2020-12-18T08:45:49-05:00
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