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Swing Trade Idea – September 01, 2020

Market View

Global markets are slightly positive with USA green, Europe green, Japan flat, China flat and Asia green. European and Chinese econ data was positive indicating the recovery continues.  Yield curve is steeper with long yields higher which is positive and usually helps financials and small caps but small caps are flat premarket. USD is lower, which is positive for commodities and foreign stocks. Oil is higher which is positive for equities. The USA market is being led by the Nasdaq which is up 0.9% with S&P500 flat so focus on the Nasdaq makes sense today. Nasdaq is surging premarket while the other USA indices are flat. Would be equally prepared for a  Nasdaq pullback or a catch-up on the remainder of the USA indices.

Premarket names:

ZM  earnings SQ upgrade WMT announces Walmart + TSLA raising 5B DOCU CRWD PTON  preearnings  BLMN upgrade  ZEN upgrade  Gold and silver miners

Stock Idea; SQ

SQ is moving premarket with Wedbush analyst  targeting $250-$300 per share. Look for a dip for an entry and watch the Nasdaq for confirmation.