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Swing Trade Idea – September 16, 2021

Market View

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

•Yield curve steeper with long yields higher. Usually positive for financials and negative for tech

•US dollar  higher usually negative for equities

•News: USA retail sales beat expectations; 

•Stocks: BROS is a recent IPO; EA is a bounce idea; BYND is a short idea

•USA indices pulled back overnight but bouncing premarket with the release of the retail sales. DJIA and Russell 2000 leading

•SPX range into Sept OPEX 4400-4500 . Gamma support 4440 and 4406 and resistance at 4465 and 4500

•FAANGM stocks are all negative being led by MSFT

•Leading sector ETFs are XLF XRT IWM JETS lagging SLV GDX GLD  KWEB EEM KWEB 

Stocks to watch: CSCO EA BROS IRNT BYND

Stocks to Watch

Indices XLF XRT IWM JETS SLV GDX GLD  KWEB EEM KWEB 

S&P500 EA CSCO BIIB AXP DXCM BAC  WYNN LVS FCX ALB NEM MGM OXY MRO KLAC

Movers IRNT GWB LAUR NTLA LCID CAR DASH  SBSW VALE BYND WYNN

WSB HUT CLOV FIGS ASO  ANY GSAT OCGN NIO 

Stock Idea; EA

EA is a bounced idea. Stock was slammed Wed on a report that had delayed Battlefield game to 2022. Bouncing on report it’s planned for Nov 2021. Can look for a pullback and lean against the Wed low