Morning Market Briefing – Pogo Stick

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Morning Market Briefing – Pogo Stick

Morning Market Briefing

Morning Market Briefing – Pogo Stick

May 20, 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 at the top of your member’s dashboard.

The SPY and the QQQ both gapped down yesterday. Then the markets opened and the buying commenced, with the SPY making a red-to-green move in the afternoon and the QQQ getting close to making that same move. This morning looks set for a flat-to-red open, and we’ll watch for breaks of yesterday’s highs for a confirmation of that move up. Wednesday was the first day this week without a strong, intraday reversal, so we still need to be on our toes. Many swing traders are waiting until the afternoon to establish new positions, taking that extra risk off the table.

Strong push of 50 SMA, will watch for upside break of the $411 area for next leg up.

Watching $323 in the QQQs for next leg up.

Watch List

Symbol Why We’re Watching
PTON Possible breakout above $97.50.
ZM Possible breakout above 50 SMA
NFLX Watch potential break either $480 or $500 for next move.
AMD Push above 21 EMA could push to $80+.
FB Watch move above $317 for possible push back to highs.

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Symbol Idea Direction
AAPL Short
BMY Long
LULU Short
LVS Short
QCOM Short

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