Morning Market Briefing – Short Week

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Morning Market Briefing – Short Week

Morning Market Briefing

Morning Market Briefing – Short Week

June 1, 2021

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Short week and a new month both come into play this first day of June, with the early market action pointing to a green open. We’ll watch the SPY and see if it can hit new highs this morning, and if the QQQs can push over that area of resistance at around $335. Blue chip tech will continue to be the value plays this week, as many of those stocks remain well off their highs. First hour confirmation will be key this week for any swing entries, and we’ll be in a ‘see profit, take profit’ mode.

New highs on deck in the SPY.

QQQ needs to clear $335 for next leg up.

Watch List

Symbol Why We’re Watching
AMZN Trapped in a $3,300 to $3,200 range.
ZM Possible breakout above $330.
AMD Needs to hold 50 SMA for next leg up.
HD If it holds 50 SMA, could make move to $320+
DAL Watch for push above $48.

YouCanTrade Scanner Ideas

Symbol Idea Direction
EA Long
V Long

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