Morning Market Briefing – November 15, 2020

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Morning Market Briefing – November 15, 2020

Morning Market Briefing

Morning Market Briefing

November 15, 2020

Join YouCanTrade coaches at this week’s MoneyShow Virtual Expo!

Wednesday, November 18 at 4:40pm EST  – Matt Hensley   “The Importance of Trading Psychology – Especially This Year”

Thursday, November 19 at 1:20pm EST – Eric Waddell “The Biggest Mistakes People Make When Trading Futures”

Sign Up Here!

Friday gave us a low volume, but positive session as the markets took the week to fully process the election and the announcement of a COVID vaccine. Retail and destination stocks led the way, with some airlines moving to six month highs. The markets will continue to weigh long term optimisim with short term pessimism, as a rocky presidential transition and COVID numbers reaching new daily highs. Parts of the Midwest are headed back to full or partial quarantine, and New York appears likely to close schools, keeping our focus on the ‘connector’ names, both business and recreational.

We have a full week of trading this week before moving into Thanksgiving, and we can expect the ‘smart’ money to begin it’s positioning for the final six weeks of this unusual year. Happy Hunting!

SPY played around near the bottom of Monday’s range yesterday in the second of back to back low-volume days.

The 290 area remains an indecision point for the QQQs, as the first half of the day stayed above it, and the second half below it.

Watch List

Symbol Why We’re Watching
PTON Long lockdown winter leads to more expensive bike purchases?
ZM Bounce on school’s going back to e-learning?
BYND A new competitor entered the market in MCD, further pain ahead or ripe for a bounce?
AAPL the $120 area shows pivot potential on both daily and hourly charts
JD Earnings on Monday before the bell

Upcoming Earnings

Symbol Date
JD Today
BHP Today
BIDU Today
PANW Today
TSN Today

Upcoming Event

Trading CME Futures

December 1, 4:30 PM EST

In this presentation, David Lerman of the CME group will cover the characteristics of several CME Group products across different asset classes through the lens of different analytical tools available to traders on the CME Group website. From Options and Treasury analytics to Open Interest analysis to OPEC/Energy meeting tools, CME Group has developed a suite of sophisticated software tools designed to support the trading activity of all futures traders.

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