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  • Swing Trade Ideas – June 18, 2020

    Jun 18, 2020 Uncategorized Comments Off on Swing Trade Ideas – June 18, 2020

    Market View

    Equity markets are weak ahead of the US employment report with USA markets, Europe, Japan and Asia red. Overnight S&P futures dipped overnight to 3064, bid up to 3119 and currently sold down since 6am.Yield curve is steeper and USD is slightly higher, which is negative for markets. Nasdaq is the strongest US market with less exposure to financials and Russell the weakest. Energy is a bright spot, but generally a weak setup. SPY 309 is a key level to watch as was the overnight low.

    Premarket names:

    KR beat TSLA upgrade X large secondary JD secondary listing in HK CCL earnings

    Stock Idea; SNAP

    SNAP high call activity Wed in Jul26 23 and 23.5 strikes. Technically broke out on daily chart.  The DOJ proposal for internet companies probably is causing some softness today but a potential long on a pullback and reversal should the 21.42 breakout level hold.

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