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Swing Trade Ideas – March 19, 2021

Market View

World markets are mixed with USA indices green, Europe mixed , Japan red, Hong Kong red; China red, Asia mixed. Yield curve is flatter which is positive for tech and negative for financials. US dollar is slightly higher which is weighing on commodities with copper and oil lower. European covid related lockdowns are weighing on Euro stocks. Today is quad options expiration 25% of S&P, 40% of QQQ and 50% of single stock gamma rolling off.  3900 is high SPX strike level and 395 is the high SPY strike. With much of the SPX rolling off at 930 EST, 395/3950 is a possible pin level.  QQQ puts expiring today can provide a catalyst where a bounce at the open can send the QQQ up to 315 or 320 which should be strong resistance. USA indices are favoring the momo tech stocks at the expense of the financials, so the rotation game continues. Volatility can be elevated at the open and into the close so keep your head on a swivel. Also know that the week after options expiration can have greater volatility.

Stocks to Watch

Earnings MP FDX OLLI NKE ETFs TAN ARKF TLT ARKQ SLV GDX ARKK XLE EWZ ARKW TAN SMH JETS QQQ EEM SPY XLF DIA

 S&P500  FDX F UPS MU PYPL APA OXY UAL AMD ETSY GM; WSB Names RIOT RBLX APHA TLRY PLTR RKT NIO AMD SNDL NOK BB Leaders QFIN LC GM NUE SBLK OLN VIAC TME CNHI WSM MET GPRO Cannabis ZYNE VFF TLRY APHA ACB HEXO CRON CGC

Bitcoin SOS EBON MARA XNET NCTY RIOT

Stock Idea; FDX

FDX earnings beat and increased 2021 guidance. Analysts have increased targets e.g. GS to $365. Stock is extended but can see a runner today like WSM yesterday. Watch UPS for sympathy move.