Morning Market Briefing – Pivot Day

Home/Blog/Morning Market Briefing/Morning Market Briefing – Pivot Day

Morning Market Briefing – Pivot Day

Morning Market Briefing

Morning Market Briefing – Pivot Day

May 14, 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.

The Morning Market Briefing is now five days a week! Each weekday you’ll see the analysis and watch lists that you’ve been enjoying on Monday, Wednesday and Friday, with some gradual new content and format down the line. Thanks for reading!

If we’ve seen the short term lows of the markets, we’ll look at yesterday at the pivot day. The SPY and the QQQ both had inside days yesterday, which is when the entire day’s price action stays within the candle of the previous session. In this case, yesterday we didn’t break Wednesday’s range in either direction. Pre Market trading shows us possibly at or above Wednesday’s highs, which would set an optimistic tone heading into the weekend. Unless, of course, the markets pull a mid day reversal, which would certainly fit into the theme of this week. Tech seems to be where the best value will be if this is the short term bottom, but we’ll stay vigilant and watch our charts for any possible moves into the weekend.

Wednesday’s high of $322.62 is the first area to watch for a breakout to the upside.

In the QQQs, not much support until the 200SMA. 50 SMA can act as short term overhead resistance.

Watch List

Symbol Why We’re Watching
DIS Earnings loser. Looking for possible base and bounce next week.
AAPL Push up above 50SMA / 8 EMA.
MSFT Needs to reclaim 50 SMA on the upside.
NVDA Bounce off $550 could pop back over 50 SMA.
ZM Watch for retake of $300 for push to $350.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AAPL Short
CAT Long
BAC Long
LULU Short
SNAP Short

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

How to Use Technical Indicators in Your Trading and Investing Strategy

May 18, 2021

It doesn’t matter whether you’re a beginner or an expert, technical indicators have been a secret weapon in trading. From the early traders in the commodities markets to the recent technology geeks, they all have been using these tools for years to sharpen their trading skills and hit the bulls eye.
YouCanTrade Coaches, Shan Sarkar and Shaun Mahoney, team up to take you through a list of free and easily accessible technical indicators based on their years’ of experience in stock and options trading. Join them for an interactive session and take away easy to follow guidelines for using technical indicators.

Shaun Mahoney
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