Morning Market Briefing – Holiday Blues

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Morning Market Briefing – Holiday Blues

Morning Market Briefing

Morning Market Briefing – Holiday Blues

December 21, 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.

Market’s overnight reaction to the stimulus deal was to pull back into the open. Of course that could all be recovered in the regular session, but right now it’s a “sell the news” event. This was the last ‘known news’ event of the year, but 2020 still has 2 more weeks to surprise us. With a couple of short weeks on tap, many retail swing traders will use this time to wind down their portfolios and go into the new year with as much buying power as possible.

This week 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!

Friday’s session rallied late, but still a decent sized red candle. Early Monday action indicates a lower open, with a test of 363 support.

A little stronger that SPY on Friday. 300 is the next level of support on a further move down.

Watch List

Symbol Why We’re Watching
CRM Setting up for a move above 230 or below 220.
DIS Caught between 170 and 175 flag after a big move on Star Wars news.
JPM Holding the 8 EMA could set up for move back to recent highs.
ROKU Needs to get above, and hold 340 for upward momentum to return.
NVDA Long Term Watch for move above 550 or below 510

YouCanTrade Scanner Ideas

Symbol Idea Direction
CAT Long
CDW Long
DKS Short
IBM Long
KO Long

For more information on the YouCanTrade scanner, click here. 

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