Morning Market Briefing – TGI(First)F

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Morning Market Briefing – TGI(First)F

Morning Market Briefing

Morning Market Briefing – First (Trading) Friday

January 8, 2020

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It’s the first trading Friday of 2021 and already it couldn’t get here soon enough. For those able to turn away from the dumpster fire that is the last couple of news cycles, the markets pushed to all-time highs yet again on Thursday, and Friday’s pre market looks like a green open. How much value to the long side is left is a fair question for swing traders. New and continued COVID lockdowns will weigh on the market, but the prospect of a new (and larger) stimulus is on the table after the recent runoff elections.

From the entire team here at YouCanTrade, we hope you and your family have a wonderful 2021!

Very strong day on Thursday. 375 can be viewed as short term support if the SPY wants to test that over the next session or two.

Just peeked it’s head above all-time highs before retreating a bit into the close. Early action shows a gap above 315, and we’ll use that as short term support in the event of a pullback.

Watch List

Symbol Why We’re Watching
AMZN Holding rising support channel well. Could pop over 3,200
FB Good options flow on Thursday.
MSFT Needs push over 219, could run over 8EMA.
ZM Basing out around 335-337 area. Needs a breach there for next leg down.
NVDA Long Term Watch for breakout above 550 or breakdown below 510

YouCanTrade Scanner Ideas

Symbol Idea Direction
DISH Long
ZM Short
GOOG Long
NKE Long
PTON Long

For more information on the YouCanTrade scanner, click here. 

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2021-01-08T08:20:42-05:00
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