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Swing Trade Idea – August 31, 2020

Market View

Global markets are  mixed with USA green, Europe slightly green, Japan green, China and Asia red. Econ news: China mfg and non-mfg PMI indicate recovery continuing, Japanese industrial production exceeded expectations but Japanese retail sales below.  Yield curve is sharply steeper which is usually positive for banks and small caps. Oil higher and USD lower is positive for USA equities in general. Lower USD positive for commodities and foreign equity. Buffet invested in Japanese trading firms which has boosted Japanese equities. AAPL and TSLA are trading post-split and DJIA trading reconstituted,  watch the reaction. China will need to approve TickTock sale, watch WMT, MSFT and ORCL for reaction.  USA stimulus still being debated so not any obvious catalysts to move the markets so expecting a range day.

Premarket names:

MSFT ORCL WMT ZM earnings AMC   CRWD DOCU CHWY pre-earnings Airlines and Travel

Stock Idea; APPS

APPS had a strong bounce after earnings and has pulled back to the 20ema. Friday bounce. Possible long with caveat that 20ema must hold.  Should do well as long as software and tech are in vogue