Morning Market Briefing – Working For The Weekend

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Morning Market Briefing – Working For The Weekend

Morning Market Briefing

Morning Market Briefing – Working For The Weekend

November 13, 2020

Heads up! Two Roads Trading and SCTrade have new live trading schedules. You can catch SCTrade from 9:30-10:30 am and 1-2 pm Eastern, Monday through Friday. You can catch Two Roads Trading from 2-3:30 pm Eastern, Monday through Friday.

The markets have continued to move with a lack of conviction since Monday’s “wild ride”. A few COVID names (NFLX, ZM, PTON, WORK) have moved off short term bottoms as the Wall Street’s attention moves back to the pandemic and the timeframe for a “return to normal”.

Friday the 13th in the markets in 2020 may actually mean everything makes sense today, but we’ll wait out the opening hour and see what direction we go.

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.

ZM with a mini “V” off it’s short term bottoms, could see the $450 level and 50 SMA on deck in the next few sessions.

Watch List

Symbol Why We’re Watching
PTON Long lockdown winter leads to more expensive bike purchases?
ZM Facing some technical difficulties as Friday’s sun rises
BYND A new competitor entered the market in MCD, further pain ahead or ripe for a bounce?
AAPL New Apple made chips power it’s new series of laptops
TSLA Large weekly call buying in Thursday’s session

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