Morning Market Briefing – Pop Goes the Spyder

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Morning Market Briefing – Pop Goes the Spyder

Morning Market Briefing

Morning Market Briefing – Pop Goes the Spyder

June 22, 2021

Good Morning! In yesterday’s Morning Market Briefing we discussed how important it was for the SPY to avoid consecutive closes below the 50 day SMA. After opening below that level, the SPY pushed above and ran away from the average like the Roadrunner leaving old Wile E. in the dust. Every candle of yesterday’s price action was green on the hourly. The retailers and travel had strong sessions, end their recent downward moves. The banks also pushed off the bottom, setting up for what could be a bullish week if we break Monday’s highs.

The SPY needs to retake the 8 EMA for next leg up.

$345.50 price area test could send QQQ back to new highs.

Watch List

Symbol Why We’re Watching
AAL Possible base & bounce in progress on test of 50 SMA.
F Retake of 8 EMA / $15 price level could push up to $16.
ROKU Needs $370 break for next leg up.
HD Potential breakout above 21 EMA.
INTC Long term watch as its caught between the 50 and 200 SMA.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AAL Short
NKE Short

For more information on the YouCanTrade scanner, click here. 

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