Morning Market Briefing – Rebound?

Home/Blog/Morning Market Briefing/Morning Market Briefing – Rebound?

Morning Market Briefing – Rebound?

Morning Market Briefing

Morning Market Briefing – Rebound?

May 12, 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 on the “Insights” tab.

The Morning Market Briefing is now five days a week! Each weekday you’ll see the analysis and watch lists that you’ve been enjoying on Monday, Wednesday and Friday, with some gradual new content and format down the line. Thanks for reading!

What began yesterday as a good ole fashioned stock market “blood bath” quickly rebounded to recover the large gap down, with the QQQ actually flirting with a red-to-green move. A lot of uncertainty this morning as things look to open flat-to-red. Moves like yesterday are why we wait for intraday confirmation before moving into multiple swings. This isn’t a time for ‘hero trading’.

Watching SPY at the $410 level for short term support.

In the QQQs, using 50 SMA as resistance and short term support at $320

Watch List

Symbol Why We’re Watching
DIS Hold of $180 could push back to $190 resistance.
ROKU Watch for hold of 200 SMA and push back to $350.
INTC Watch for test of the 200 SMA.
WDC Hold of $66 could bounce back to $74 resistance.
ZM Long term watch. Stuck in a range between $300 and $350.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AAPL Short
CAT Long
BAC Long
LULU Short
SNAP Short

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

How to Use Technical Indicators in Your Trading and Investing Strategy

May 18, 2021

It doesn’t matter whether you’re a beginner or an expert, technical indicators have been a secret weapon in trading. From the early traders in the commodities markets to the recent technology geeks, they all have been using these tools for years to sharpen their trading skills and hit the bulls eye.
YouCanTrade Coaches, Shan Sarkar and Shaun Mahoney, team up to take you through a list of free and easily accessible technical indicators based on their years’ of experience in stock and options trading. Join them for an interactive session and take away easy to follow guidelines for using technical indicators.

Shaun Mahoney
Register Now
See all Events
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