Morning Market Briefing – Pop & Drop

Home/Blog/Morning Market Briefing/Morning Market Briefing – Pop & Drop

Morning Market Briefing – Pop & Drop

Morning Market Briefing

Morning Market Briefing – Pop & Drop

February 17, 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.

Markets came out of the long weekend by quickly gapping to new highs. Second hour pullbacks brought us back below Friday’s close, where we stayed for the rest of the session. As congress continues to write the stimulus bill and The Street waits to see exactly what’s in it, we continue to be lifted by earnings, which begin to wind down a bit this week. We’ll also continue to watch energy names as some parts of the southern US experience power issues in wake of the winter weather.

Notable earnings this week:

Wednesday: SHOP, CAKE, BIDU, H, TLRY, TWLO, WING

Thursday: AMAT, APRN, CS, FVRR, PLNT, TRIP, WM

Friday, DE, DTE, ERF, MGI

Gap and retrace Tuesday sets us up for a possible rest day today with 390 as first level of support.

Similar action to SPY, with 330 first level of support.

Watch List

Symbol Why We’re Watching
BA Breakout over 217.
AAPL May want to go down and test the 50 SMA
AAL That sweet stimulus money could push it back over 18.
AMD 90 is a key level, could set up for base-and-bounce.
TSLA 800 key level of support, could break down below.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AIG Short
AMZN Long
LUV Long
NFLX Long
SBUX Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Futures 101

Can you see the future in the futures markets? Futures trader and YouCanTrade Coach, Eric Waddell, will go over some basics on the futures markets and dispel some commonly held misconceptions about how the markets work. He’ll also discuss how the futures markets can help stock/options traders with their probability.

Register Now
See all Events
2021-02-17T08:30:27-05:00
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