Morning Market Briefing – Stonks

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Morning Market Briefing – Stonks

Morning Market Briefing

Morning Market Briefing – Stonks

January 27, 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.

As we wake up today, we now live in a world where (it appears) a group of retail traders from today’s equivalent of a message board, may have bankrupted a major hedge fund. Say what you want about the GME squeeze, but this is something books will be written about. (Already some great articles making an appearance)

Both the SPY and QQQ looked poised for a run higher yesterday morning, instead coming in a bit before finishing flat to slightly green. This morning we look to open lower. Over the past few months, almost each new all-time high has been followed with either a small pullback or a few days of consolidation, and it appears that this time may be no different.

Upcoming Earnings

Wednesday: AAPL, BA, TSLA, T

Thursday: V, MCD, AAL, LUV, WD

Be sure to check earnings dates before you move into any new positions.

382 continues to be our short term support.

We’ll use 327 as first support on a pullback, then 320. Will likely be responsive to tech earnings over the next couple of weeks.

Watch List

Symbol Why We’re Watching
AAPL Earnings Wednesday
ZM Back below the 21EMA, 350 could be on deck
NFLX Possible base-and-bounce off the 8EMA
MSFT Earnings winner. Needs to hold 230 for next leg up.
NVDA Watching the 550 area here.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AMZN Long
MSFT Long
MCD Long
SNAP Long
PG Short

For more information on the YouCanTrade scanner, click here. 

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2021-01-27T08:22:10-05:00
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