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Swing Trade Idea – May 24, 2021

Market View

World markets are generally positive with USA green, Europe green, Japan green, Hong Kong red, China green and Asia mixed. Yield curve is flatter which is positive for tech stocks and negative for financials. US dollar is negative which is generally positive for equities and commodities; however commodities are mixed with oil higher but softs pulling back. US markets are led by the tech sector and energy sector. Bitcoin is bouncing after another weekend plunge lifting TSLA, PYPL, SQ and ARKK. USA indices are rising into the open and should pay attention if ES reaches the 4178ish level where reversals have occurred or where a breakout could occur.  As usual FAANGMT and yields are the compass. Expecting a range day today but trend is always possible so keep your head on a swivel

Stocks to Watch

Indices ARKK XLE ARKW QQQ SMH SLV ICLN XBI SPY FANG IPO IWM

S&P500 HPQ RMD COG DVN F MRO SLB NVDA PRGO CCL HES PYPL DG PRU CPB JNJ RHI MOS FTI EFX NEM

Movers SPCE STEM BYND COIN HPQ LU AMC PLTR MRNA NVDA OLLI BNTX DKS BB ARRY NTR PDD ZS  NGM DG CPB XEC

ARKK SQ PRLB IOVA SNAP TWLO PINS ROKU VCYT Z ZS EDIT XLNX TSLA DOCU

Relative Strength IGT TROW BX TGT

Stock Idea; F

Ford had a large move Friday on news that 500k pre-orders for the electric F10 truck had been placed.

Stock is extended in the short term; however there is high call activity and high premarket volume which can squeeze price higher.

One could look for a pullback on a shorter-term time frame for a long to play a potential squeeze with no guarantee that the squeeze will continue