Morning Market Briefing – New Highs (Again)

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Morning Market Briefing – New Highs (Again)

Morning Market Briefing

Morning Market Briefing – New Highs (Again)

February 8, 2020

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After a strong day that put both the SPY and QQQ at new all-time highs, Monday’s open is poised to be even higher. We’ve seen this pattern several times over the past few months: multiple days of new highs followed by a 2-3 day pullback. Perhaps this is the time the highs keep going for a couple more days, perhaps not. Regardless, we’ll continue to look for value as earnings and a stimulus package drive the market.

Notable Earnings:


Wednesday: GM, UBER, CME, MGM, UAA

Thursday: PEP, DIS, KHZ, DDOG

With all-times highs yet again, we’ll watch 386 as short term support.

330 continues to be short term support with no overhead resistance.

Watch List

Symbol Why We’re Watching
AAPL Making a move back above the 8EMA
TSLA Tightening range on the daily.
UBER Possible run into earnings on Wed.
LLY Possible fish hook pattern over 8 EMA
NVDA Setting up to finally break out above 550?

YouCanTrade Scanner Ideas

Symbol Idea Direction
AMZN Short
CAT Long
HD Long
WMT Short

For more information on the YouCanTrade scanner, click here. 

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