Morning Market Briefing – Wednesday the 13th

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Morning Market Briefing – Wednesday the 13th

Morning Market Briefing

Morning Market Briefing – Wednesday the 13th

January 13, 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.

Markets starting the morning slightly red as they continue to process the events of the last week and what it may mean as far as more possible help for the economy. Both the SPY and the QQQs tested their 8 EMAs but closed above. Those will be the first areas to watch for clues to a short term pullback. Some of the travel stocks had their best day in weeks on Tuesday. We’ll watch to see if they can continue up as more people receive the COVID vaccine.

COVID numbers hitting highs may be a short term driver of the markets to the down side as more areas announce measures to combat the current wave. Plenty of names on deck for possible moves.

Bit of an indecisive candle on the SPY on Tuesday. Watching 380 above and 375 below for short term clues to the next move.

Tested and reclaimed the trendline but we’ll keep an eye on it if we open lower today.

Watch List

Symbol Why We’re Watching
PTON Sharp rally backed by options activity. Needs to reclaim 158.
TWTR Taking a beating after recent bans. Needs to get back over 50SMA.
AAPL Tightening price action last three sessions.
ZM Strong rally Tuesday. Needs to follow through.
NVDA Long Term Watch for breakout above 550 or breakdown below 510

YouCanTrade Scanner Ideas

Symbol Idea Direction
AIG Long
CLX Short
IBM Long
MSFT Short

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