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Swing Trade Idea – May 20, 2021

Market View

World markets are mixed with USA red, Europe green, Japan green, Hong Kong red, China green, Asia red. Yield curve flatter is positive for tech and negative for financials. US dollar lower is positive for commodities though oil is lower.  USA markets pulled back overnight and have been bought since 5am EDT.  Jobless claims and Philly Fed are on tap before the market opens and may be a catalyst for a move. USA markets are red with Nasdaq leading. Bitcoin is strong which may be providing a bid to TSLA which is leading the Nasdaq. Riskier growth names like solars and clean energy are getting a bid premarket like Wed. China internets and semis are waking up and commodities, energy and financials are lagging so a small rotation into growth from value may be occurring.  Indices are in value so likely with trade in a range. Watch the FAANGMT and 10yr yield for direction. 

Stocks to Watch

Earnings ZTO PLCE JD ZIM PLCE ADI BEKE GDS KSS CSCO BJ LB

Indices BTC ICLN TAN ARKK JETS TLT YEN GDX SLV FANG XLE DBC DIA XLB XLF IWM EEM

S&P500 CPRT VIAC F CMG IR SNPS TSLA FTV STX NVDA CSCO HFC FTI RL LB WBA MRK MMM RTX

Movers ALLO MTL PLCE VLRS SGLB GENI LSPD IOVA ZTO NNDM KSS RIDE BJ WOOF HFC LAD CD RL

Bitcoin MARA XNET RIOT CAN MSTR BTBT NCTY

Stock Idea; AMAT

AMAT reports after the close and with USA govt providing money to support semi industry and semis strong premarket, AMAT is a name to consider for a long. Value name. If looking for more momo, consider AMD NVDA and ADI that is up post-EPS.