Swing Trade Idea – March 2, 2021
Market View
World markets are mixed with USA red, Japan red, Europe green, China red, Hong Kong red 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. USA large cap indices hit the top of the expected move and pulled back overnight. SPY resistance is the VPOC 390.7 which is the top of the expected move and support is the overnight low 386.4. Premarket the USA large cap indices are flat with Russell slightly negative. Very muted market, watch FAANGMT and 10yr yield for direction today.
Stocks to Watch
Earnings ZM SE KSS TGT SRPT NIO INSG NVAX LMND AI ETFs MSOS ARKK ARKW ARKF XLE GLD GDX ARKQ JETS XLY IBB KWEB TAN SLV IWM TLT EEM Bitcoin SOS NCTY SINO RIOT CLSK SRAX BTBT EBON MSTR S&P500 leaders NLSN AKAM CCL FRT TGT LUMN PRGO UAL LYB DJIA MRK WMT VZ DOW WBA CSCO INTC Cannabis APHA TLRY VFF ACB CRLBF GRWG TRSSF
Stock Idea; SQ
SQ is down 23% from recent highs and bounced Monday with the market. It is elevated premarket as are other bitcoin related names. Can be traded as a breakout trade above 250.44 or look for a pullback to 240.39. Resistance 260 and 270.
