Morning Market Briefing – New Highs (Again)

Home/Blog/Morning Market Briefing/Morning Market Briefing – New Highs (Again)

Morning Market Briefing – New Highs (Again)

Morning Market Briefing

Morning Market Briefing – New Highs (Again)

February 8, 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.

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:

Tuesday: TWTR, CSCO, FISV, LYFT

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
DISH Long
HD Long
WMT Short

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Building A Trading System

One of the most important processes any trader goes through is building out their systems. Whether they start from scratch or are simply modified from other systems, how a trader builds, tests and deploys their systems and strategies is a vital part of a trading career.
Join Matt Hensley as he shows you the building blocks every system has in common: from idea, to testing, to paper trading, to evaluation, to eventual deployment. He’ll also give a sample timeline and share a system he developed over the course of the last six months.You will learn:

  • How to build a system from scratch
  • How to determine which systems are right for you
  • A sample timeline for build out
  • The rules for a system Matt developed last fall and trades daily in his trading room
Matt Hensley
Register Now
See all Events
2021-02-08T08:17:06-05:00
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