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Swing Trade Ideas – March 24, 2021

Market View

World markets are mixed with USA green, Europe red, Japan red, Hong Kong red, China red and Asia red. Yield curve is flatter with yields lower. US dollar higher is negative for equities and commodities.  Oil is higher with blockage in the Suez canal. Bitcoin is strong premarket up 4.7%.  USA markets are showing broad strength with technology and financials strong which is different from the last few weeks. Russell is leading with Nasdaq also strong. Semis are the big story with news that INTC is building 2 plants in AZ. Look for strength in semis, AMAT LRCX KLAC. TSM is down which is affecting EEM.  SPY was oversold Wed and is bouncing premarket. Watch 393.5 as a key level with a trend possible above. 289 is a key level of support on the downside. Powell speaking today so watch the 10yr yield as it has been a catalyst for moves 

Stocks to Watch

Earnings ADBE GIS GME HOME TCEHY WGO   ETFs XLE JETS SMH ARKW SLV IWM ARKK QQQ TAN XBI EEM XLP

S&P500  AMAT INTC KLAC APA LRCX OXY CCL MRO UAL DVN; WSB Names RIOT AMC RBLX PLUG GOEV GME NFT DLPN HOFV Bitcoin CAN NCTY RIOT EBON SOS BTBT GBTC

Stock Idea; INTC

INTC is in the news today with the announcement that it is building 2 factories in AZ. Stock is extended in the premarket and likely needs to pullback. Related companies: AMAT LRCX KLAC ASML are all suppliers.  Expecting USA govt to announce that there will be support for an initiative to grow semi mfg in USA which will further boost the stocks.  AMD and TSM are down on the news and are names to watch for pullbacks.