4 weeks Morning Update for Friday, 09/24/21 Reddit      

Good morning everyone. Have a nice Friday, and enjoy the weekend!

This list is geared towards day trading. With the momentum watchlist especially, I am typically in and out very quickly, only occasionally longer than a couple minutes, usually faster scalps. Always have a plan when you enter a trade (for profit taking and for taking a loss), and use proper risk management for your account. Feel free to message me if you have any questions.

Main Watchlist:

Gapping UP:

  • AFRM
  • AZN
  • MDP
  • DISH
  • UVXY

Gapping DOWN:

  • ROKU
  • BABA
  • PYPL
  • NIO
  • NKE
  • YY

Market Outlook:

Stocks are looking to open lower this morning after we saw a strong day yesterday. The debt ceiling is a popular topic of discussion, and rightfully so. If the debt ceiling is not raised, the US could be forced to default. This could have an immediate effect on the market, and cause some serious volatility. Mitch McConnell has indicated that the GOP will not raise the debt ceiling, so the writing could be written on the wall. This could potentially be the smoking gun, so it's worth following closely. The Chinese central bank has (once again) vowed to crackdown on cr**to trading, and B**coin and other cr**tocurrencies are getting hit hard this morning as a result. Worth following to see if there are any other relevant announcements in the near future.

SPY is trading just over 441, and we could test 440 as support this morning. If we breakdown, we could see some more selling off. Regardless, we should see some volatility. DIA is trading just over 346. Could test 347 as resistance, possible support levels at 344 and 340. QQQ is trading a bit over 370, and it could test that level as support/resistance this morning. B**coin is currently trading around 41,400, and could see more weakness throughout the day. I'll be watching for a bounce off 40,000, but if we break down there could be more selling off. Cr**to-related stocks are getting hit hard in premarket trading, as a result. Airlines are still struggling to break out of their downtrend, but could do so if they see strength today. Cruise stocks appear to have broken out of their consolidation in the past couple days of trading. We'll see if the strength continues, or if we see more selling pressure. Meme stocks are still holding up well and worth keeping an eye on.

Remember to use proper risk management, by making sure you size appropriately for your account and have a plan for every trade you enter (both for taking profits and cutting losses). Happy trading everyone 🙂

submitted by /u/vanturetrading
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