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Swing Trade Ideas – January 26, 2021

Market View

In the premarket world markets are mixed with USA mixed; Europe green; Japan red; Hong Kong red; China red; Asia red.  US dollar is down slightly and yields are slightly flatter which should be non factors. Oil higher is bullish for markets.  USA is rotating today back to the small caps after yesterday’s surge into FAANGMT. Industry leaders in premarket are solar, industrial, retail, energy and laggards are emerging markets, security with FAANGMT positive but not decisive. MSFT, AMD, SBUX  are reporting after the close and may have a run on the open.   S&P500 dipped overnight and has risen to resistance, expecting a range bound day with FAANGMT the key names to determine direction

Premarket names:

MSFT AMD TXN earnings after the close; JNJ GE up on earnings AXP down on earnings; ETSY up on Musk like; Squeeze Names GME WKHS AMC SRG OTRK TR CLVS SKT SPWR FIZZ SENS REV BLNK RKT GOGO

Stock Idea; AMD

AMD along with MSFT is reporting after the close.  Day trade idea for a run into earnings today. Breakout level 95 or look for a opening dip and bounce with QQQ strength as confirmation.