Morning Market Briefing – Hot Stock Summer

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Morning Market Briefing – Hot Stock Summer

Morning Market Briefing

Morning Market Briefing – Hot Stock Summer

June 28, 2021

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Good Morning! The SPY pit in a strong candle on Friday to continue to confirm its upward momentum. Banks led the way last week, bouncing strongly off short term lows. The travel industry, with names like AAL, LUV, DAL, UAL, LVS, MGM, MAR, etc, continues to be a laggard and gives a good chance for a short term bounce heading into the new week. Tech optimism remains high, but with the QQQ putting in an engulfing candle on Friday, and names like AAPL, AMD and NVDA putting in potential short term candles, we want to see some upward confirmation before moving into those names.

SPY hit new all-time highs on both Thursday and Friday. $425 short term support for now.

QQQ showed an engulfing candle on the daily, need to move below $349 to confirm short-term top.

Watch List

Symbol Why We’re Watching
AAL Breakout potential above 50 SMA.
CVS Possible breakout over 21 EMA or breakdown below 50 SMA.
DASH Needs break of $180 for next push up.
IBM Could push up with break of $147
INTC Long term watch as its caught between the 50 and 200 SMA.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AMD Long
DAL Short

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