Morning Market Briefing – I SPY

Home/Blog/Morning Market Briefing/Morning Market Briefing – I SPY

Morning Market Briefing – I SPY

Morning Market Briefing

Morning Market Briefing – I SPY

March 26, 2021

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.

The SPY rallied from a small gap down in Thursday’s session and finished strong to put together one of its strongest looking candles in weeks. Follow through in today’s session is important, and traders will be watching if the QQQ can  get out of its own way and power up toward the 50 SMA. Banks, retail, and travel stocks lead the way in early morning trading. If tech stabilizes and begins to move up, some big names that are at or below their 200 SMAs could come into play.

SPY held the 50 SMA Thursday, and needs to reclaim 390 price level to head back to new highs.

If the 310 price level fails to hold, could begin a slow march to the 200 SMA.

Watch List

Symbol Why We’re Watching
AAPL Could base & bounce at 120 price level, needs QQQ to pick up.
AMD Not much support below $75 if tech breaks down.
AXP Possible fish hook pattern above 143.
ZM Could get to 300 price level quickly if it breaks 312.
GOOG Long term watch above 2100 or below 2000.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AMZN Short
BK Long
C Long
FDX Long
QCOM Short

For more information on the YouCanTrade scanner, click here. 

2021-03-26T08:26:40-04:00
YouCanTrade is an online media publication service which provides investment educational content, ideas and demonstrations, and does not provide investment or trading advice, research or recommendations. Click here to read important disclosure, disclaimer and assumption of risk information. Active trading generally, and options, futures and digital assets trading in particular, may not be suitable for all investors. Past performance, whether actual or simulated, does not guarantee or predict future results.
TradeStation Securities, Inc. provides support and training channels hosted on its affiliate YouCanTrade. Any other services offered/hosted by YouCanTrade are not sponsored, endorsed, sold, or promoted by TradeStation Securities and it makes no representation regarding any YouCanTrade goods or services.
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
CME GROUP or CME GROUP GLOBE are trademarks of Chicago Mercantile Exchange Inc. and have been licensed by YouCanTrade for use in connection with the FAST channel and the Spring Summit. Any services offered by YouCanTrade are not sponsored, endorsed, sold or promoted by Chicago Mercantile Exchange Inc. or its Affiliates and none of them makes any representation regarding any such goods or services.
Go to Top