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Swing Trade Ideas – April 6, 2021

Market View

World markets are mixed with USA flattish, Japan red, Europe green, China red and Asia green. Yield curve is flatter with long rates lower which is a negative for financials and positive for growth. US dollar is slightly higher but most commodities are also higher except for copper which is lower.  Nasdaq is the leading USA sector with weakness in financials. AAPL, NFLX  and semiconductors are leading the Nasdaq. CS announced a $4.7B fit due to Archegos and large blocks of VIAC, VIPS are still being offered, pressuring the stocks. SPY, DIA and QQQ are extended at 2 standard deviation high in the short term so expect consolidation or pullbacks in the short term. Spy call wall has shifted to 410, which is likely strong resistance with 400 support. Positive gamma will lead to lower volatility.

Stocks to Watch

ETFs GDX DBC GLD JETS TAN SLV XLE TLT IWM ARKF XLP XLF EEM

ARKK ILMN SNAP ROKU NVTA HUYA PINS TSLA WSB Names DLPN RBLX PLUG GME TLRY BB HOFV Relative Strength ASO VYGVF MARA KKR PWR TRMBL Momo BP SNAP UBS ILMN OXY WYNN DQ JKS RMO JOAN  Bitcoin GROW MARAT DPW

Stock Idea; SNAP

SNAP is a day trade idea with catalysts being recent upgrades with $75 and $85 targets along with recent unusual option activity. TRP targets 64.08 and 72.69 Premarket high is 55.69