Morning Market Briefing – SPY in the Sky

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Morning Market Briefing – SPY in the Sky

Morning Market Briefing

Morning Market Briefing – Gap and Go

March 10, 2020

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Thursday’s action showed strength across the board, but continued the trend of the S&P and Dow showing more than the QQQ. Some of the blue chip tech names have really struggled to recover recent losses. However, these names likely provide the most upside volume should we see the bull charging yet again.

With the stimulus signed, we can now begin to focus on economic reopening and start to sort out the long term effects of the pandemic in both sectors and individual companies.

SPY hit new highs yesterday, with 390 as short term support.

The 50SMA / 320 price level area will be the next area to watch for resistance in the QQQ.

Watch List

Symbol Why We’re Watching
M Needs 17.25 to confirm breakout.
JPM Possible breakout above 155.
NVDA Completed the ‘V’ pattern by touching 520, could have 50SMA on deck
MU Back and forth action could setup breakout at 90.
ROKU Could make a quick move to 400 if it reclaims the 8EMA with volume

YouCanTrade Scanner Ideas

Symbol Idea Direction
PG Short
C Long
CLX Short
LOW Long
MCD Short

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