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Swing Trade Ideas – January 15, 2021

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Market View

In the premarket world markets are weak with USA markets red, Europe red,  Hong Kong red, China red, and Asia red.  USA dollar is up which is negative for equities and commodities. Yield curve is flatter which is negative for financials and small caps. The Nasdaq is the relative outperformer in the USA markets but flat in the premarket. The twin memes are a Covid resurgence in Europe and China and the reveal of Biden’s $1.9B stimulus package which includes $1,400 payments to most Americans and an increase of the minimum wage to $15 per hour. JPM, C, WFC and PNC reported and are trading down in the premarket. FAANGMT are positive with FB and TSLA strong. As usual,  FAANGMT are the key to large cap index direction, especially with financials weak. 3750 is a key  level to watch on SPX and may form a bounce or breakdown level should S&P500 continue down.

Premarket names:

JPM WFC C PNC earnings; BB selling patents to Huawei;  TSLA SOLO  NIO PLUG FCEL BLDP; China  GSX TCEHY, BABA TME, JD;  Leaders TTM PLTR CRSP SNAP ZM PYPL; Cannabis TLRY APHA ACB HEXO CRLBF; Rel strength leaders APHA EH EXPC FUTU MAXR SE

Stock Idea; EXPC

EXPC is a SPAC that will be bringing Blade public. Blade is an air commuter company which uses helicopters and fixed wing aircraft.  ARKK has started buying EXPC which is increasing interest by traders and investors.