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  • Swing Trade Idea – May 4, 2021

    May 04, 2021 Uncategorized Comments Off on Swing Trade Idea – May 4, 2021

    Market View

    World markets are weak with all world indices soft. USA markets are being led to the downside by the Nasdaq with DJIA outperforming. Key S&P500 and Nasdaq gamma is negative so higher volatility is to be expected. Key inflection levels: SPY 415 and QQQ 335, 330 where bounces or breakdowns are likely. US dollar and yields have been rising in the premarket indicating risk-off sentiment. Watch these plus the FAANGMT for indication of continuation downward or a bounce.

    Stocks to Watch

    Stock Idea; AMD

    Semiconductors are continuing to weaken. AMD has been a very popular stock with a large volume by price gap below. 73.80 is a key level where one can look for either a bounce or a $20 drop below.

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