Morning Market Briefing – Two Day Two Step

Home/Blog/Morning Market Briefing/Morning Market Briefing – Two Day Two Step

Morning Market Briefing – Two Day Two Step

Morning Market Briefing

Morning Market Briefing – Two Day Two Step

January 6, 2020

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.

The first two days of the new trading year have given us a little bit of everything. Strong action in both directions, intraday turnarounds, sudden price acceleration, etc. Important not to put too much on either day as the large funds take profits and establish new positions headed into 2021. Plenty of action and setups to come this week, but smart traders are letting the early year action work itself out before jumping in the deep end.

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

SPY closed above the 8 EMA Tuesday after testing the 21 the day before. We’ll keep an eye on the 8 as early market action points to a red open.

If downward action continues, we could have a nice mid month setup of a test of the 300 level as the 50SMA moves up to meet it.

Watch List

Symbol Why We’re Watching
SQ Nice curling action. Needs 230 for next leg up.
INTC Testing 51.50 resistance.
C Weekly double top at 62. Looking for post COVID highs.
NFLX Testing 520. Caught between the 8 and 21 EMAs.
NVDA Long Term Watch for breakout above 550 or breakdown below 510

YouCanTrade Scanner Ideas

Symbol Idea Direction
IWM Long
LVS Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Mastering Your Trading Mindset: My Awful First Year

Have you found yourself making emotional decisions in your trading? Have you learned several backtested strategies only to fail to deploy them profitably for yourself? Do you stare at the ceiling at night and wonder if you’ll ever figure this trading thing out?
I did all this my first year trading. At live events, webinars and even casual conversation with friends, I’m always asked what turned it around. During this webinar, I’ll walk through what steps I took to make myself a profitable trader after a nightmare first six months.
This special event will be light on slides, heavy on stories, with plenty of time for Q&A. And if you’re a new or struggling trader, I hope you’ll leave with a few ideas of how to get yourself on the right track.

Matt Hensley
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