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Swing Trade Idea – September 13, 2021

Market View

•Global markets are mixed with USA green, Europe green,Japan green, China red, Hong Kong red, Asia mixed

•Yield curve flatter with long yields lower. Usually positive for tech and negative for financials

•US dollar  higher and rising in premarket, usually negative for commodities and equities. Short term extended

•News: Uranium spiking on Sprott; USA Covid cases lower; FT reports China breaking Alipay from BABA; China reports there are too many EV companies and wants them to consolidate; OPEC releasing forecast today

•Stocks: AAPL announcing updated products

•USA indices are bouncing broadly premarket as is usual Monday after a weak Friday but are still below value.  Indices were negative gamma as of Friday with S&P 4450 a key level to rise above

•SPX range into Sept OPEX 4450-4550 with 4500 a key transition level

•FAANGM stocks are all positive led by AAPL and FB. FB initiated by GS with a target of $455

•Leading sector ETFs are EWZ XLE JETS ICLN ARKK XME IWM DBC SMH XLB

Stocks to watch: AAPL FB ORCL CCJ UUUU ASAN AMC

Stocks to Watch

Indices JETS XLE ICLN GDX XME XLB IWM XLI ARKK XLF DIA ARKG /BTC SLV KWEB

S&P500 CCL MGM MRO ALB APA LIN MRNA DAL AAL GM CTVA FCX FB PENN BBY GIS TWTR ANET

Movers GGAL ACH DEN CCJ NEGG ASAN SBSW AMC SBLK ZIM BTU LAC GME SDGR DVAX LESL AVTR SPCE ZTO VGR MARA BILI BABA CRWD AFRM NTES

WSB CCJ AMC GME OCGN CLOV WOOF  CLOV SPCE HUT GSAT AFRM ANY RIOT

Stock Idea; ON

ON is a semiconductor supplier. Not sexy like NVDA but breaking out on the daily chart.  Call volume was elevated Friday with 50 a popular strike.  47.60 is the breakout level for continuation. Not a quick mover, watch SMH and QQQ for confirmation.