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Swing Trade Idea – May 27, 2021

Market View

World markets are mixed with USA mixed, Japan green, Europe mixed, Hong Kong red, China red, and Asia mixed. Yield curve steeper is positive for financials and negative for tech. US dollar is lower but commodities are negative.  US indices are being led by the Russell 2000, which was the leading index Wed.  Major econ data prior to the open is durable goods, jobless claims, GDP second estimate and pending home sales at 10am EDT.  S&P500 has resistance from option gamma at 4250 and 4200  and 4160 a level that below can lead to a sharp move lower. Nasdaq is at the top of the expected move for the week so likely bullish opportunities lie in the DJIA and Russell today with yields rising.  Leading sectors bitcoin, airlines, financials, clean energy and laggards are bonds, gold miners, semiconductors and FANG stocks.

Stocks to Watch

Earnings AEO BBY BMO BURL DBI DG DLTR DXC ELF MDT NTNX NVDA OKTA PLAN  PSTG RY SAFM SNOW WDAY WSM ZUO

Indices /BTC IYZ ICLN JETS XLF XLE GDX QQQ TAN SMH SLV FANG TLT

S&P500 BBY F BA GPS FCX FTI RCL RTX NVDA  CCL NCLH LUV DLTR DG DOW KHC AMAT COG APA CVX GLW HII XOM

Movers ORGO VIR BBY OCGN GCO WSM EH GPS BURL RCL DLTR IVR CROX PHG OSH AZN GSK YUM SNY STE

WSB SNDL RIOT TLRY BB GE RBLX TSLA PLUG PLTR AMC GME BBBY

Stock Idea; F

F held its investor meeting yesterday where electrification of the fleet was discussed. F has been attracting high call activity, much that is long dated calls. Today F has received target raises to 16 and 17 which may be a catalyst for higher prices. Pre-market high is 14.37and premarket low is 14.18. One can either play momentum above the premarket high or pullbacks with the premarket low as a level to lean against.