.

Swing Trade Idea – August 18, 2021

Market View

World markets are mixed with USA mixed, Europe red, Japan green, Hong Kong green, China A green, and Asia mixed. Yield curve is steeper which is often a negative for FANG. US dollar is lower relative to the Euro but commodity currencies are lower, which is usually negative for commodities. USA markets are being led by R2K and Nasdaq which are flat and the DJIA is lagging.   In general the poorer performing stocks are outperforming in the premarket including China, Cannabis, solar so possibly a good day for the most shorted stocks. News: Housing starts missed expectations but building permits beat; Fed minutes will be released 2pm EDT which can be market moving; earnings reports generally good with LOW and A reacting well and TGT pulling back. Indices are pulling back into the open.  SPX 4420 is a key gamma level where bounces would be expected and faster selling below. FAANGM are flattish into the open. TSLA is outperforming in the premarket and the name they may pick to stabilize markets

Stocks to Watch

Earnings ZIM LOW WB A CREE ADI TGT PLCE

Indices KWEB ICLN MSOS EEM TAN DBC XLE SLV ARKK GDX /BTC TLT XLB DIA SLX XLI

S&P500 LOW VIAC REGN A OXY DXC MRNA APA TSLA ALB ADI TGT FCX CVX NUE CNP PRGO DFS PFE MSFT

Movers TLRY JKS ZIM DQ WB LOW A BIDU UPST OGN TJX PLCE CREE ADI VIPS TGT TUYA

WSB TLRY SOFI DNUT HOOD TTCF NIO WEN ARVL HOOD AMC DLPN RIOT RBLX CLF OCGN MVIS AMD

Stock Idea; ZIM

ZIM is a shipping stocks which reported a blow-out number with EBITA forecast doubled.  Stock is trading up in premarket so would look for a pullback. Premarket high is 49.25 and low is 48. Recent high is 49.9 for a momentum breakout