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Swing Trade Idea – November 11, 2021

Market Setup 

•Global markets are mixed with USA green, Japan green, Europe green, Hong Kong green, China green and Asia mixed.

•Yield curve slight raise in middle

•US dollar higher

•News: China: Evergrande avoided a default, optimism that crackdown on property market easing; Covid cases increasing in Europe

•Stocks: Elon sold 4.5M shares which is less than 17M which would be 10% of his holdings;  Big Earnings +Movers: FOSL AFRM OPEN SOFI MQ BZH HUT APP TPR; DIS Earnings loser

•Indices: USA indices have all bounced and led by Nasdaq100 with TSLA & NVDA the key stocks to follow. Expecting a S&P500 range day with Wed low and high the key pivot levels.  Yields have stabilized after the Wed drop and US dollar is stretched and will be the catalysts for the next move

•Sectors: Leading: China internet, Brazil, Gold Miners, Cannabis, Blockchain, ARKK Lagging: GBTC XLE

•Stocks to watch:

TSLA NVDA DIS BYND BZH TPR MT Spec Names: AFRM MQ OPEN SOFI TASK HUT GFI

Movers

Earnings AFRM APP BMBL BYND DIS FIGS GDRX ME MQ MRVI OPEN RSI SOFI TASK AZUL BAM GRWG HUT LAC LI MT TPR BZH

Indices KWEB EWZ GDX MSOS BLOK XME TAN ARKK EEM SMH ARKF ARKG SLV

S&P500 TPR NVDA TSLA FCX AMD NUE MCHP AMAT NEM PENN F DIS COO IPGP

Movers FOSL AFRM OPEN SOFI RIDE DUOL OPAD WB NICE GFI SBH APP SI RIVN FUBO BYND BHG PSFE SDGR DIS

WSB AFRM SOFI ROOT HUT CLNE SENS GOEV BARK FIGS SPCE TTCF OCGN

Idea MQ:

Marqeta operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers. Earnings beat has lifted the stock with a premarket high of 29.74 and low of 27.36. One could look for a breakout above the premarket high or a pullback that stays below the premarket low.  Target 35. Alternate ideas: SOFI AFRM in fintech space