Morning Market Briefing – Trouble Beneath?

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Morning Market Briefing – Trouble Beneath?

Morning Market Briefing

Morning Market Briefing – Trouble Beneath?

April 16, 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.

A HUGE thank you to all those who attended our Spring Summit this past weekend! If you are interested in any of the offers presented, please email concierge@youcantrade.com for more information. Thanks to a final hour surge, the SPY and QQQ once again made new all-time highs. However, some signs of rotation continue to surface. Yesterday, far more NYSE stocks made new one month lows than made all-time highs. We still see some areas in the financial and travel industries that can’t seem to sustain any upward momentum. Of course, we went many weeks last summer where the blue chip names, especially in tech, dragged the markets to high after high, so what we’re seeing is no guarantee of an overall pullback.

Short term support at around 413.

Using 337.50 as short term support for now.

Watch List

Symbol Why We’re Watching
AMD Possible breakout above $84
INTC Potential ‘fish hook’ pattern confirming above %65.50
TWTR Possible breakout above $74
VIAC Could find next leg down below 200 SMA.
NFLX Needs $557 level for potential breakout.

YouCanTrade Scanner Ideas

Symbol Idea Direction
AXP Long
AAPL Long
CRM Long
DIS Long
TMUS Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Build On Your Fundamentals

April 20, 2021

The fundamentals are at the core of everyone’s investment strategy. In this session, trading coach Shan Sarkar explains how you can build your long-term investment goals and portfolio with a focus on fundamental analysis. When the market is uncertain, it’s always wise to go back to the fundamentals. Get strength out of the power of various factors of the fundamentals and re-energize your holdings.

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2021-04-16T08:48:34-04:00
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