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Swing Trade Idea – July 2, 2021

Market View

World markets are mixed with USA mixed, Europe mixed, China red, Japan green, Hong Kong red, and Asia mixed. Yield curve flatter with long yields lower which is positive for tech, precious metals and negative for financials. US dollar is slightly positive but commodities ex-energy are higher. OPEC+ is still meeting and oil is lower.  News: USA non-farm payrolls premarket;  SPCE rocket ship on news Branson going to space Jul11; DIDI is down on news that China is launching a cybersecurity review and halting new user registration; TSLA Q2 deliveries missed expectations and JNJ announced that the Covid vaccine is effective against Delta variant.  Pre jobs report the USA markets are tilted to the growth stocks with tech stocks leading. FAANGM stocks are all up in the premarket with TSLA lagging. Leading sectors are EWZ GDX SLV ARKK QQQ IGV SMH and laggards are emerging markets and China internets.

Stocks to Watch

Earnings

Indices GDX SLV GLD TLT IGV QQQ FANG ARKQ SMH KWEB EEM ICLN EWZ XLE

S&P500 NEM LRCX CMG WBA TER NVDA DHI VTRS FCX PAYC AAL INTC AAPL KEYS FLIR EIX CCL JPM SCHW MRO CSCO LIN

Movers SPCE ABB EHC RYAAY GME PPTA SEDG WBA SOFI CCS ZS PLTR JNJ ENPH OKTA  CERE KEYS BB RDS JD AMC WISH

WSB SPCE ABB EHC RYAAY GME PPTA SEDG WBA SOFI CCS ZS PLTR JNJ ENPH OKTA  CERE KEYS BB RDS JD AMC WISH 

Stock Idea; ENPH

ENPH and other solar companies were upgraded today by GS. ENPH is the largest holding in the TAN ETF, which has recaptured the 200sma.  Premarket high 185.47 for a momentum breakout but would look for intraday pullback. Swing target 190 in short term. All time high 229.