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

Home/Blog/Morning Market Briefing/Morning Market Briefing – Run to the Top or Rounded Top?

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
CSCO Long
JWN  Short
EBAY Long
M Long
KO Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

One Quick Rules Based Setup You Can Start (Paper) Trading Tomorrow

June 8, 2021

Rules based trading setups are vital to helping a new trader get out of his or her head and simply follow the rules. Join trading coach Matt Hensley as he walks through a simple, three candlestick pattern he uses on multiple timeframes.

You will learn:

  • A simple rules-based pattern you can start paper trading right away
  • How to get out of your head and keep emotions out of your decision making
  • How to build your trading mindset
Matt Hensley
Register Now
See all Events
2021-06-10T08:54:24-04:00
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