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Swing Trade Idea – October 21, 2021

Market Setup

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

•Yield curve steeper is usually positive for financials and negative for tech.

•US dollar slightly higher which is negative for commodities and equities

•News: Russia 1 week Covid lockdown; UK  Covid cases rising; USA:  Philly Fed and UE Claims premarket; Evergrande closer to default as asset sell failed

•Stocks: TSLA rev miss and warned that input costs and supply chain will affect future quarters;  Trump starting a social media platform to go public through DWAC SPAC; IBM revenue miss; LRCX revenue miss and reduced forecast; HPQ div raise; CSX beat; DOW beat

•Indices: World indices taking a breather on weaker earnings and negative Covid news; SPX 4500 remains a major resistance level and 4450 support with additional downside below 4450. Large caps expected to outperform small and S&P500 to outperform Nasdaq. FAANGMT are keys to watch today along with yields

•Sectors: Leading: Healthcare (DHR HPQ DGX ABT) Airlines (AAL UAL DAL) Lagging: Brazil, Silver, EEM, Semiconductors

•Stocks to watch: CROX TSCO DOW TSLA NIO AAL Vaccine(PFE BNTX MRNA) XM IBM

Stocks to Watch

Earnings CCI CSX DFS IBM KMI LRCX LVS OMF PPG SLM TSLA AAL ALK ALY AN BX CROX DGX DHR DOW FCX KEY LUV MMC NUE T TPH UNP

Indices Yen XLV  JETS EWZ /btc EEM SLV XLE IWM KWEB XLF SMH XLI DIA SPY

S&P500 HPQ DGX CSX DOW IQV DHR T MRNA HCA VLO PFE  PYPL JNJ UAL IBM LRCX RJF GL LVS AMAT KMI KLAC TSLA

Movers CROX XM VALN SAP BNTX T DOW DHR AN WISH VLO PFE DLO ABB IBM CLF BP FCX PBR TSLA FCX UNG HPX USO ADTX

WSB WISH AFRM CLOV IVR HUT HOFV SDC HOOD OCGN CLF DNUT TSLA GSAT ITUB NIO TLRY UWMC PLUG SNDL

Stock Idea; CROX

CROX big earnings beat and more importantly reaffirmed guidance even with the factory issues in Vietnam. Premarket high 149 can be used for a momentum long or look for a pullback to enter. Stock will be extended premarket so take care.