Morning Market Briefing – Spring Has Sprung

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Morning Market Briefing – Spring Has Sprung

Morning Market Briefing

Morning Market Briefing – Spring Has Sprung

March 29, 2021

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Spring sprung the SPY on Friday, sending it through overhead resistance in a very strong final hour of price action. The QQQs followed suit, and now we’ll wait for price action today to confirm those levels. Ideally, we’d like to see price move over Friday’s highs and hold for today to resume our trek to new all-time highs.

396 is overhead resistance while the 393 area would be short term support. 398.12 break would be new highs.

Still needs to break 50SMA to the upside for breakout.

Watch List

Symbol Why We’re Watching
MA Needs to hold 366 for next leg up.
AMD Held $75 support, needs to reclaim 8 EMA for upside momentum to build.
DD Back above 50 SMA, could move back toward 200 SMA.
ZM Possible breakdown below $312
WMT Possible run to the 200 SMA if confirms break of $135

YouCanTrade Scanner Ideas

Symbol Idea Direction
AMZN Short
BMY Long
CVS Long
JWN Long
MSFT Long

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2021-03-29T08:31:06-04:00
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