Morning Market Briefing – Storm’s A Brewin’

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Morning Market Briefing – Storm’s A Brewin’

Morning Market Briefing

Morning Market Briefing – Storm’s A Brewin’

July 16, 2021

Do you watch our shows? Start your trading day with “The Trend” at 9am EST and “Beyond The Bell” at 4. Available on the front page of your member’s dashboard!

Good Morning! For the first time in awhile both the SPY and QQQs showed intraday weakness throughout most of the morning session. The S&P rallied, and pulled back above the 8 EMA before the close, but NASDAQ continues to tickle the $360 price area, which looks to be the short term line in the sand. Several major names are stuck in short term ranges, and Friday’s session could set the tone for the coming weeks.

Special Announcement! The Morning Market Briefing will be expanding on Monday! Starting with the new week, YouCanTrade trading coaches Shan, Shaun, & Matt will each be offering their “Trade Idea of the Day”. This will be a new feature that will give you three possible trades from our three top swing trading coaches. Look for it next week!

8 EMA on deck for the SPY.

Watch 8 EMA for support if the QQQs pull back further.

Watch List

Symbol Why We’re Watching
BAC Possible short below $38.
HD Possible breakout above $324.
PPG Ascending triangle could breakout above $173.
CAT Stuck in a $210-$220 range.
NVDA $750 area could decide if next move is up or down.

YouCanTrade Scanner Ideas

Symbol Idea Direction
BA Short
LYFT Short
DD Long
INTC Short

For more information on the YouCanTrade scanner, click here. 

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