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Swing Trade Ideas – April 7, 2021

Market View

World markets are mixed with USA flattish, Japan red, Europe red, China red, Hong Kong red and Asia mixed. Yield curve is slightly steeper, US dollar is slightly lower, and commodities are mixed.  USA premarket volume is very light and most stocks are flat with no major earnings release to move stocks.  Jamie Dimon’s sees strong USA growth thanks to the USA govt response to Covid and a booming economy into 2023. FOMC minutes will be released 2PM EDT and may cause a minor move in the indices. Cruise and travel companies are strong on news that CDC could permit mid summer travel. China internets are down sharply, have not seen any news. SPX resistance remains 4100 with some support at 4050 and 4000. Lower volatility should lead to smaller moves but low volume can result in sharp moves. Keep your head on a swivel.
Stocks to Watch

ETFs ICLN XLE JETS XBI ARKK XBI GDX ALV EEM KWEB ARKK CGEN ROKU SNAP PINS SPOT Z TSLA WSB Names BB NOK RBLX AMD DLPN RIOT NIO GOEV PLTR AMC TLRY TSLA Relative Strength FNKO DHI LPX Momo TMDX APDN HIMX RUN JOAN LAZ ALKS BYND UMC NOK MRNA EXPR EXPR BNTX TAK GEO Bitcoin SOS EBON CLSK MSTR GBTC CAN BTBT RIOT MARA

Stock Idea; ROKU

ROKU is a day trade / swing idea with a potential breakout. Tues it moved up with high volume and high call volume. Tues money shifted into the beaten down former leaders and Roku can benfit if this continues today. Roku is pulling back in the premarket after the move so one should look for a move off VWAP or alternatively a breakout above 363.08. Look for ARKK and QQQ to confirm that momo tech is in favor.