Morning Market Briefing – Wait & See

Home/Blog/Morning Market Briefing/Morning Market Briefing – Wait & See

Morning Market Briefing – Wait & See

Morning Market Briefing

Morning Market Briefing – Wait & See

June 24, 2021

Enjoy Jerry Baldwin’s webinar last night? Join Jerry as part of the YCT All Access Pass! One price to join Jerry, Shaun, Shan, and Matt each day as they trade and talk about the markets. Sign up today!

Good Morning! After two days of strong upside price action, the markets took a day to reload for the potential of new highs into the weekend. The QQQs did put in a new high at $348.92, and we’ll watch that area today for a sign tech is ready to keep going. The banks, such as BAC, C, JPM and more, have spent this week putting in a base for a possible rebound move over the next few sessions. Value based traders will continue to keep their eyes on the travel stocks as the US completes its reopening. Names like AAL, LUV, MGM, LVS, and other airline and destination stocks, will be on our radar. After multiple days of new highs across the board in the last couple of weeks, it wouldn’t be unexpected for a small, 1-2 day pullback in the next week or so, which could provide a chance to reload some of the top names.

The SPY needs to retake $425 for next leg up.

$345 is what we’ll use as short term support on a pullback.

Watch List

Symbol Why We’re Watching
AMD Break and hold of $84 price level could see push to $90.
AAP Hold of the $200 price level could see push back toward $210.
STX Possible bottom bouncing play off $84.
CVS Held the 50 SMA, could push back to $86 on move above 8 EMA.
INTC Long term watch as its caught between the 50 and 200 SMA.

YouCanTrade Scanner Ideas

Symbol Idea Direction
BIDU Short
INTC Short
IWM Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Live Options Trading

June 25, 2021

In this online live-trading presentation, Sarah Potter, President of YouCanTrade, will go through the process of:

  • identifying options trading opportunities
  • electing the correct strikes and expirations
  • managing the trade from start to finish

Sarah will also discuss her daily trade routine and provide tips to help you ramp up the learning curve.

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