Morning Market Briefing – R&R

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Morning Market Briefing – R&R

Morning Market Briefing

Morning Market Briefing – Rest Day

April 7, 2021

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After two strong sessions in a row, the SPY and QQQ took a good old fashioned rest day. Without much movement or range, both indexes seem to be quietly gearing up for their next move. Optimism seems to abound in the markets in general, but we have a recent history of pulling back for a day or two after multiple hits of new all-time highs, as we’ve seen in the SPY. Long biased swing traders would welcome this, as it gives them the chance to reload positions at a better price.

The breach of 400 means we keep that price area on watch for short term support.

Using 330 as short term support for now.

Watch List

Symbol Why We’re Watching
QCOM Possible new breakout above 50 SMA
WDC If breaks and holds $73, could see new recent highs.
CRM Could run to 200 SMA if it holds $220
EXPE Possible breakout above $178
MS Possible breakout above 21 EMA

YouCanTrade Scanner Ideas

Symbol Idea Direction
BABA Short
AXP Long
DAL Long
F Long

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