Morning Market Briefing – Tech Takes Over

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Morning Market Briefing – Tech Takes Over

Morning Market Briefing

Morning Market Briefing – Tech Takes Over

June 15, 2021

Good Morning! Just yesterday in this space we mentioned that for markets to continue to make new highs, that eventually big tech was going to have to wake up. In Monday’s session, big tech woke up. AAPL, AMZN, ROKU, SQ, and others powered the QQQ to a new all-time high. The SPY did as well, although that was due to a very strong push in the last 10 minutes of trading. Banks and travel stocks had a rough day, and may be good value plays if the markets keep making highs as traders will look for sectors that may need to catch up to the overall market.

As the SPY continues up, we’ll keep an eye on the 8 EMA for short term support.

We’ll use $343 as short term support in the QQQs.

Watch List

Symbol Why We’re Watching
SHAK Strong session Friday, could breakout above 200 SMA.
TWTR Potential long if it holds the 50 SMA.
INTC Possible breakout over $58.
C Possible base & bounce off the 50 SMA.
TSLA Caught between 50 and 200 SMAs.

YouCanTrade Scanner Ideas

Symbol Idea Direction
IWM Long
KSS Short
LUV Short

For more information on the YouCanTrade scanner, click here. 

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