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Swing Trade Ideas – March 1, 2021

Market View

World markets are strong  with USA green, Japan green, Europe green, China green, Hong Kong green and Asia green. Yields are lower in the middle of the curve which is defraying the concerns of spiking yields and benefits the large cap tech stocks. US dollar is higher but only adversely affecting some Agg commodities. The premarket move is a broad-based reaction to the late Friday drop on a rebalance. SPY is back into the area of the Friday highs ~385 and today will be looking for either a breakout move to 390 with resistance at 386,388 or retracement with 383 pivot and 380 resistance. News events: Congress passed the $1.9T package, JNJ vaccine approved and after the market open mfg PMI will be released.  Stocks are broadly up across all sectors which can lead to a trend day up if SPY overnight high 385.3 can be exceeded but need to be prepared for rejection. Overnight low of 384 is a level to watch.

Stocks to Watch

Earnings XRAY MIDD ETFs JETS ARKF KWEB ARKW ARKF MSOS PRNT TAN ARKQ XLE IWM XME EEM XLF QQQ SMH XLY Bitcoin SOS CAN NCTY MARA SRAX RIOT EBON EBON GBTC S&P500 leaders PRGO NRG XRAY UAL XOM CCL AAL TDG NCLH LUV FCX MRO SYF DJIA BA DOW JNJ CVX AAPL DIS JPM CRM  Cannabis GRWG TLRY CRBP APHA NBEV ACB IIPR HEXO VFF ZYNE CRON

Stock Idea; APPS

APPS develops mobile software that enables mobile content distribution and transactions.  APPS was strong Friday with a weak tape.  Hourly breakout above $88.17. Would look for pullback to VWAP on short term time frame and watch QQQ for confirmation for an entry.