Morning Market Briefing – Taking A Breath

Home/Blog/Morning Market Briefing/Morning Market Briefing – Taking A Breath

Morning Market Briefing – Taking A Breath

Morning Market Briefing

Morning Market Briefing – Taking A Breath

April 28, 2021

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.

While the SPY spent yet another day hovering near highs, both sessions this week have been small ranges and lower volume. We can likely expect more of the same today, at least until the FOMC press conference this afternoon and APPL earnings after the bell. A large chunk of the S&P market cap reports either today or tomorrow, so we can expect that to begin to drive volume, and hopefully direction, back into the markets. As swing traders it’s important to remember we don’t trade just to trade, we trade when the market presents us an opportunity. The directional opportunities have been fewer and farther in between so far this week, but hopefully that begins to change starting this afternoon.

Nice short term support at $411. Might need a day or two for another upside break.

$342 acting as overhead resistance for now. Will react to AAPL and AMZN earnings over next 2 days.

Watch List

Symbol Why We’re Watching
PTON Potential breakdown below $100.
CRM $236 possible trigger for breakout move to $250
NFLX Possible next leg down on break of $500.
SQ Tightening price action, could break down below $240 or breakout above $250.
ROKU 50 SMA has been strong recent resistance. Could pop on strong move above that level.

YouCanTrade Scanner Ideas

Symbol Idea Direction
M Long
CLX Short
MGM Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Sheep of Main Street

May 4, 2021

YouCanTrade futures coach, Eric Waddell, will take a deep dive into the common pitfalls most amateur traders fall victim to with the potential to destroy their accounts. Some of the pitfalls Eric will cover include:
• Not understanding the different types of stops and how to use them
• Not understanding how to determine proper position sizing
• How 52 week highs and lows may not be as important as you think
• and more

Register Now
See all Events
YouCanTrade is an online media publication service which provides investment educational content, ideas and demonstrations, and does not provide investment or trading advice, research or recommendations. Click here to read important disclosure, disclaimer and assumption of risk information. Active trading generally, and options, futures and digital assets trading in particular, may not be suitable for all investors. Past performance, whether actual or simulated, does not guarantee or predict future results.
TradeStation Securities, Inc. provides support and training channels hosted on its affiliate YouCanTrade. Any other services offered/hosted by YouCanTrade are not sponsored, endorsed, sold, or promoted by TradeStation Securities and it makes no representation regarding any YouCanTrade goods or services.
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
CME GROUP or CME GROUP GLOBE are trademarks of Chicago Mercantile Exchange Inc. and have been licensed by YouCanTrade for use in connection with the FAST channel and the Spring Summit. Any services offered by YouCanTrade are not sponsored, endorsed, sold or promoted by Chicago Mercantile Exchange Inc. or its Affiliates and none of them makes any representation regarding any such goods or services.
Go to Top