Morning Market Briefing – June Swoon

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Morning Market Briefing – June Swoon

Morning Market Briefing

Morning Market Briefing – June Swoon

June 14, 2021

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Good Morning and Happy Monday! The heat has returned to most of the US and the markets followed suit last week with multiple new highs in the SPY and the QQQs making a run in that direction. Still a few major tech names such as AAPL, INTC, & AMD are still well off their highs. Two things to keep in mind about the upcoming week. 1. Over the past several months, nearly every time the markets have made as many new highs in a week as we saw last week, they pulled back after that. Sometimes the pull back was minor, but as early May in the QQQs showed us, a 5% correction can happen at any time. 2. Monday will be an important day for establishing, and confirming our direction for the week. Watching 30 and 60 min opening range breaks can be a clue as to where the day will head. Have a great day and happy trading!

Monday’s price action will set the SPY’s opening range for the week.

QQQs appears headed toward a reunion with all-time highs.

Watch List

Symbol Why We’re Watching
PTON Strong session Friday, could breakout above 200 SMA.
TWTR Potential long trigger above 50 SMA.
INTC Possible breakout over $58.
FB Move over $333 could see a test of highs.
AAPL Caught between 50 and 200 SMAs.

YouCanTrade Scanner Ideas

Symbol Idea Direction
NFLX Short
JWN Short
LVS Short

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