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Swing Trade Ideas – March 16, 2021

Market View

World markets are mildly positive with USA mixed, Europe green, Japan green, Hong Kong green, China green, Asia green. Yield curve is slightly flatter which is considered helpful for big cap tech and negative for financials. US dollar is down slightly but not helping commodities. Bitcoin is up 2% but bitcoin names are weak. USA indices are being led by the Nasi as the rotation du jour is into large cap growth and out of small caps and the value names. USA retail sales will be reported before the opening as will industrial production and may be market moving by the algos.  Today’s premarket leaders are high growth tech, semis, Cannabis and WSB names with financials and energy lagging. High call buying is still driving the individual stocks.  FAANGMT are being led by AAPL with TSLA lagging. With QQQ lagging,  FAANGMT are critical to keep the large cap markets moving up. S&P500 and DJIA are extended beyond value so look for some digestion. Also watch the 10yr yield which can be used as a compass for the Nasi.  Watching: SBUX TWTR AAPL PDD NVDA ON

Stocks to Watch

Earnings BEKE DBI FUTU QFIN VUZI WPRT ETFs ARKF ARKK ARKW KWEB QQQ SMH GDX TAN IBB EEM ITB XBI ARKQ SPY SLV PRNT XLE Bitcoin XNET PYPL GROW CLSK CAN SOS EBON NCTY MARA RIOT S&P500 FOX SBUX NWS AMD TWTR RMD TER MU TXN JNPR FCX APA COP F DVN OXY  New Relative Strength  IHRT LC CYH SONO CCL UA MOS WSB Names SNDL TLRY APHA RKT GOEV BB AMD ARKK GME AMC RIOT PLUG PLTR RBLX TSLA NEWS CLSK 9M share offering $22 per share NWS deal with FB;  BABA out of favor with CCP

Stock Idea; TWTR

With tech getting a bid, TWTR is a candidate today.  75 is potential short-term swing target with 67 support. All time high target 80.