Morning Market Briefing – What’s Next?

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Morning Market Briefing – What’s Next?

Morning Market Briefing

Morning Market Briefing – What’s Next?

July 12, 2021

Good Morning! One of the harder things for new traders to learn is that we don’t really care what happens to the markets on a day to day basis. Sure, when we’re in a position we want that position to profit. Outside of that, we don’t have a bias one way or the other, we just know what we’re going to do regardless of what direction things are going (or no direction at all). Designing a plan for each trade, and following through on that plan, is one important step to building a successful trading career. If you are following your plan and losing consistently, you know the plan needs to be changed. But if you don’t have a plan, how do you know any given system or strategy is truly working? Rules-based trading can be a great place for new traders to start. Having a checklist for entry and exit can take away the guesswork and help you find your style. Check out our course offerings more for information!

SPY hit new highs again on Friday. $430 short term support.

QQQ in spitting distance of new highs.

Watch List

Symbol Why We’re Watching
AAL Potential breakout above 8 EMA.
NVDA Pulled back off highs, could make a quick move on confirmed break of $800.
ROKU Lots of options buying last week.
TWTR Needs another push above $70 to reclaim upward movement.
CAT Possible breakout above $221

YouCanTrade Scanner Ideas

Symbol Idea Direction
MNST Short
JWN Short
MCD Long
MS Long
CSCO Long

For more information on the YouCanTrade scanner, click here. 

Upcoming Event

Globex Highs and Lows

July 13, 2021

With Jerry Baldwin, YouCanTrade Futures Coach
In this webinar, Jerry Baldwin, Futures Coach, will talk about the importance of watching and understanding how the overnight highs and lows can affect your trades. He will also touch on how your strategy may look different when planning for regular trading hours versus overnight trading hours.
You will learn:
• How to identify trading opportunities around the Globex levels
• How to increase trading probabilities when trading during high volume hours
• How to identify higher probability trading areas

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2021-07-11T20:31:33-04:00
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