Morning Market Briefing – Last Full Week

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Morning Market Briefing – Last Full Week

Morning Market Briefing

Morning Market Briefing – Last Full Week

December 14, 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.

The markets held toward the later half of last week after a strong down day on Wednesday. With the last full week of trading in 2020 on deck, traders will begin to position themselves for 2021. Earnings are largely over, and only the potential stimulus package negotiations will have the power to push the markets on news, baring something unexpected (which would certainly be on brand for 2020).

The last half of December is an excellent time for self reflection in your trading. If you just started trading this year, what are five things you want to learn in the coming year? If you’re an experienced trader, what are you’re top areas for improvement in 2021?

From the entire team here at YouCanTrade, we hope you and you family have a wonderful Holiday Season and a Happy New Year!

The SPY held on Thursday and Friday after a rocky mid-week push down. 363.50 is short term support.

We’ll continue to use Thursday’s candle as short term support/resistance.

Watch List

Symbol Why We’re Watching
BA Caught between the 8EMA and multiple rejections of 240 price level
WYNN Forming a flag after a run up, bouncing between 110 and 115
CVS Watch for retake of the 8EMA trendline, been a wild ride since early November.
AAPL 120 short-term support, with 125 overhead resistance
TWTR Potential double top forming at 52

YouCanTrade Scanner Ideas

Symbol Idea Direction
COST Long
NFLX Long
SQ Long
STX Long
BABA Long

For more information on the YouCanTrade scanner, click here. 

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2020-12-14T07:55:18-05:00
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