Morning Market Briefing – Quick Break

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Morning Market Briefing – Quick Break

Morning Market Briefing

Morning Market Briefing – Quick Break

June 16, 2021

Good Morning! Markets took a breath yesterday after Monday’s slate of new highs across the board. Wednesday’s early morning action points to a flat-to-green open. Overhead resistance at highs will be the areas we watch for the breakout to continue. Banks offered mixed action yesterday, with some like BAC putting in possible reversal candles, while others, like C, continued to make new monthly lows. Travel stocks remain interesting for those looking for upside value, though we likely need another day to confirm which ones may be in play.

As the SPY continues up, we’ll keep an eye on the 8 EMA for short term support.

We’ll use $340 as short term support in the QQQs.

Watch List

Symbol Why We’re Watching
AAPL Watch for base & bounce at $129.50 on the hourly
TWTR Potential long if it holds the 50 SMA.
INTC Possible breakout over $58.
BAC Possible base & bounce off the 50 SMA.
TSLA Caught between 50 and 200 SMAs.

YouCanTrade Scanner Ideas

Symbol Idea Direction
IWM Long
KSS Short
LUV Short

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