Morning Market Briefing – Run to the Top or Rounded Top?

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Morning Market Briefing – Run to the Top or Rounded Top?

Morning Market Briefing

Morning Market Briefing – Run to the Top or Rounded Top?

June 10, 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 at the top of your member’s dashboard.

For the second consecutive day the SPY opened and pushed to new highs before moving down into the close. Several times in the past six months, we’ve seen similar action, usually followed by a small, 1-2 days pullback, or even something more significant, as we saw in mid May. The next two sessions will be important in determining our direction for the rest of the month.

SPY right up against short term resistance at all-time highs.

Watch List

Symbol Why We’re Watching
SPCE Social media chatter, possible breakout over $40
TWTR Potential breakout if it retakes the 50 SMA
UPS Could breakdown below 21 EMA.
LLY Possible breakout above $205 price level.
AMZN Potential breakout above $3.200.

YouCanTrade Scanner Ideas

Symbol Idea Direction
JWN  Short
M Long
KO Long

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