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Swing Trade Idea – September 30, 2021

Market View

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

•Yield curve  flatter with the 10yr yield falling, usually positive for tech

•US dollar higher which is negative for equities and commodities

•News: USA: Debt limit extended; GDP, UE claims, Chicago PMI ; Ireland doubled GDP forecast

•Stocks: KMX earnings miss; BBBY earnings miss; MRK buying XLRN

•Indices: S&P500 moved overnight to 4389 and has pulled back into Wed range. While below 4400 expect high volatility. 4344 is a critical level to hold. Small caps are currently leading but breadth is generally strong across the board. End of month is usually bullish but need to watch whether they will STR again

•Stocks in Play: NFLX MRK SPCE MARA ALB BBBY

Stocks to Watch

Earnings BBBY KMX MKC PAYX

Indices /btc BLOK ARKF EEM IWM KWEB ARKK XLF IPO XPH

S&P500 PRGO MRK COG NFLX ALB GNRC ETSY BA FOXA LVS GPS BAC KMX VTR CAH APA STT BMY SYY APD LUV

Movers DOLE FOLD VIR SNOW BBBY EQNR IRNT LCID JKS SOFI BP SDC ALB JRSH KMX FL CVNA ACB USO BABA

WSB OCGN SENS RIOT GOEV HOFV WKHS AFRM MVIS AFRM NIO NOK

Stock Idea; LCID

Lucent Motors is an EV company attracting high call activity at the 28 and 30 strike. Currently 27 premarket, potential breakout candidate. Risky stock some handle with care.

TSLA is another EV stock and has been outperforming the Nasdaq. 800 is an obvious target