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Swing Trade Idea – April 30, 2021

Market View

World markets are negative with USA red, Japan red, Europe red, Hong Kong red, China red and Asia red. Yield curve flat. US dollar higher is a risk off signal. Bitcoin and Ethereum higher. Energy is weak with oil lower.  In todays Econ data:  Europe GDP still in recession, China mfg PMI increasing, USA core PCE TBD and Canada GDP TBD. AMZN earnings were the highlight and with a beat is trading higher but the remainder of the FANGs are trading lower. AAPL is trading lower on news that the EU regulators are charging them with anti-competitive practices. A USA trial starts next week with companies charging AAPL with anticompetitive practices. Premarket, the USA indices are risk-off with DJIA outperforming and the Russell2000 lagging. All industry sectors I track are negative with the ARK, emerging markets and semiconductors leading to the downside. SPY is at the 10d VPOC 417 level which is an important support level and a logical bounce level.  Below 417, 415 is a logical support level and below 410,  large drops are possible. With option expiration today one can look for a lift late in the afternoon should markets remain soft.

Stocks to Watch

Earnings AEM beat; AMZN beat; AZN beat; BMRN beat; CL beat; FSLR beat; JCI rev miss; MHK beat; MSTR beat; NIO beat; NWL beat; PSX beat; QSR beat; SWKS beat; TEAM beat; TEX beat; TWTR beat; VRTX beat; WDC beat; WY miss; X rev miss; ZEN beat;

Indices XLY EEM ICLN SMH IWM EWZ QQQ GDX SLV SPY IBB DIA XLF XLB

S&P WDC AMZN NWL ALXN CL ABBV F VRTX TWTR SWKS CLX FISV WY CVX GILD AMAT QRVO EOG TSLA TXN SLB OSX DVN OXY CARR HAL C APA APPL AMD MRO NVDA

Movers NAKD MESO AZN WDC AMZN NWL BNTX CL QSR ABBV TWTR BCS CMPS NPTN DXCM CLX SM CVX

Bitcoin GBTC MARA NCTY CLSK SOS PYPL OSTK

Stock Idea; VXRT 

VXRT is a small cap biotech working on an oral Covid vaccine. Heavily shorted with high unusual option activity. VXRT is a day trading candidate that is not correlated with major indices. Very volatile so take caution.