Morning Market Briefing – Shake It Off

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Morning Market Briefing – Shake It Off

Morning Market Briefing

Morning Market Briefing – Shake It Off

December 16, 2020

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.

After a rough Monday session, the SPY shook off the downward price action and pushed higher on Tuesday. News of a possible stimulus and a small amount of possible rotation out of tech pushed the SPY within a couple of points of a new all-time high. The QQQs have had a slow but steady grind up the last two sessions, also closing close to new highs. Volume across the board is light, but steady, and we’ll watch for signs the ‘big’ money is lightening up as we head toward 2021.

From the entire team here at YouCanTrade, we hope you and you family have a wonderful Holiday Season and a Happy New Year!

Strong candle yesterday sets up for run to highs.

Possible flat open. We’ll watch the 60 min opening range.

Watch List

Symbol Why We’re Watching
CRM Holding the 220 level. For now.
DIS Big jump after content announcement. Next run possible above 175.
CVS Watch for retake of the 8EMA trendline, been a wild ride since early November.
PTON Early reviews of Apple’s competition coming soon.
MSFT Still coiled in a tight range between 210 & 215.

YouCanTrade Scanner Ideas

Symbol Idea Direction
NKE Long
NFLX Long
MU Long
SBUX Long
KSS Long

For more information on the YouCanTrade scanner, click here. 

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2020-12-16T09:15:41-05:00
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