Since Silvergate and Silicon Valley Bank’s announcement that they were essentially insolvent causing a sell off, Volatility around news continues to be very high.
On top of this news, over the weekend, the government announced they would be taking over Signature Bank to avoid its collapse.
And then Yesterday, Credit Suisse announced they were struggling. To top this off- this morning it is First Republic Bank.
With this news, this is certainly not good for near-term volatility. As you can see with the Russell 2000, being the worst performer (ETF has heavier regional banks exposure)
Surprisingly, on our 700+point drop Tuesday, the NASDAQ-100 (QQQ- ETF has heavier tech exposure) was surging: META, NVDA, MSFT, AMD were strong and gave opportunity for new Swing entries.
Today, AAPL gave a new entry for swing play: AAPL has been in a 1-week bullish consolidation and broke above is resistance level $154.54.
Our swing targets are $156.30, $157.38, $158.70
Stop: $150.36. -New support from its resistance breakout
QQQ very strong for its 3rd day- Outpacing the S&P 500 (SPY)
Suzan
All the information shared is provided for educational purposes only. Any trades placed upon reliance of SharperTrades, LLC are taken at your own risk for your own account. Past performance is no guarantee. While there is great potential for reward trading stocks, cryptos, commodities, options, forex and other trading securities, there is also substantial risk of loss. All trading operations involve high risks of losing your entire investment. You must therefore decide your own suitability to trade. Trading results can never be guaranteed. SharperTrades, LLC is not registered as an investment adviser with any federal or state regulatory agency. This is not an offer to buy or sell stocks, cryptos, forex, futures, options, commodity interests or any other trading securities.