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Swing Trade Idea – December 2, 2020

Market View

In the premarket world markets are broadly weak with USA, Europe, Japan, China,  Hong Kong red and  Asia mixed. USA dollar is mildly positive which is negative for equities. Yield curve flatter is negative for financials and small caps. Oil is lower as OPEC continues to meet. OPEC news/rumors will move prices so be aware. CRM and SLACK reported good numbers but CRM is down based on the amount being paid for the acquisition. US indices are all in the red mildly with small caps stronger.  FAANGMT stocks are mixed with TSLA heavy and AMZN relative outperformer. Tues FAANGM were strong and as usual will be the keys to market direction. SPY is currently above a gap close to the 365 support level. Below the gap, 363 is support and 360 strong support. Healthcare looks like the strongest S&P sector this morning. FCEL announced a secondary below price which has possibly caused weakness across the EV space. 

Premarket names:

Vaccine PFE MRNA; Bitcoin GBTC MSTR;  High call  DHR  EV / ALT energy FCEL WKHS SOLO RIDE NIO LI XPEV PLUG LTHM TSLA HYLN Weed TLRY ACB HEXO GNLN CRON APHA VFF CGC   CRM SLACK acquisition
 

Stock Idea; DHR

DHR is a medical diagnostic company that moved above the 50sma Tuesday with unusual option volume. Catalyst today is an upgrade by GS. Move above 227.9 may confirm the move. Healthcare is defensive so may get some love if the markets take a breather.