Morning Market Briefing – A Little Off The Top

Home/Blog/Morning Market Briefing/Morning Market Briefing – A Little Off The Top

Morning Market Briefing – A Little Off The Top

Morning Market Briefing

Morning Market Briefing – A Little Off The Top

April 21, 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.

As we head into the heart of earnings season with AAPL on deck today, we look to open flat to slightly red this Wednesday morning. NFLX was the first tech giant to report, and they’re shares went tumbling in the after hours. Keep in mind, earnings are rarely what we predict them to be. Coming out of the pandemic, most traders will be less worried about sub par numbers and more interested in projections across various industries as a whole. How badly did COVID affect them? How soon do they expect to be pulling in money at a pre-pandemic level? These are the questions we can expect analysts to ask over the coming weeks.

On the upside, we’ll watch for a retake of the 8 EMA. On the downside, the next support level is around $411, with the 21 EMA on deck below that.

We’ll use the 21 EMA as support if the next move is down. AAPL earnings will effect where this goes.

Watch List

Symbol Why We’re Watching
BA First break of 50 SMA since Feb.
DAL Possible base & bounce off $44.
WMT Needs to retake $141 for next leg up.
WDC Possible bounce off 50 SMA or next leg down if it can’t hold.
JPM Broke key level of $150 Tuesday.  Watch for next leg down.

YouCanTrade Scanner Ideas

Symbol Idea Direction
QCOM Short
PTON Short
NKE Short
JWN Short

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Sheep of Main Street

April 27, 2021

YouCanTrade futures coach, Eric Waddell, will take a deep dive into the common pitfalls most amateur traders fall victim to with the potential to destroy their accounts. Some of the pitfalls Eric will cover include:
• Not understanding the different types of stops and how to use them
• Not understanding how to determine proper position sizing
• How 52 week highs and lows may not be as important as you think
• and more

Register Now
See all Events
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