Morning Market Briefing – Hold the Line

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Morning Market Briefing – Hold the Line

Morning Market Briefing

Morning Market Briefing – Hold The Line

February 19, 2020

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After a back and forth shortened week, the markets tested but held their first support levels moving into Friday’s session. Early action points to a green open, and it’s anyone’s guess after the that. The wild intraday action has made it tough for swing traders to stake out new possible positions heading into the weekend. Cash is a position, but if the markets show strength moving into hour 2, we could see some sidelined money looking for both the leaders and laggards in various sectors.

Notable earnings this week:

Friday, DE, DTE, ERF, MGI

The 390 level and the 8EMA are first levels of support as we try for new highs into the weekend.

Holding the 21 EMA to set up for another move to highs.

Watch List

Symbol Why We’re Watching
CLX SnapBack pattern in play above the 8EMA.
CSCO Twice held the 46 price level, in play above the 21 EMA.
V Needs to reclaim 210.
AMD 90 is a key level, could set up for base-and-bounce.
IBM Above 121 could retake the 200 SMA

YouCanTrade Scanner Ideas

Symbol Idea Direction
BABA Short
DAL Long
EA Long
LOW Long
LVS Long

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2021-02-19T08:36:57-05:00
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