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Swing Trade Idea – October 27, 2021

Market Setup 

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

•Yield curve flattening which is a trend in other countries

•US dollar slightly lower and falling in the premarket

•News: USA: durable goods 8:30EDT; Canada BOC statement; Evergrande saga continues

•Stocks:  GOOGL Youtube and cloud growth slower;  MSFT beat with higher cloud growth; KO& KHC raised forecasts with higher prices; MCD beat and raising prices; Uber partner with Hertz to rent TSLA; AMD beat and raise; GM beat and raise; TMO raised guidance

•Indices: USA  large cap indices are flat and leed by DJIA with small caps lower. With world indices lower and US indices extended, risk is to the downside. Flattening yield curve should benefit dividend payers.  SPX resistance 4600 support 4548 and 4500 a key level

•Sectors: Leading: solar clean energy  long bonds fang staples Lagging: bitcoin China internet energy semiconductors

•Stocks to watch: ENPH SEDG RUN JKS HOOD TXN KO MCD HOG MSFT AMD GOOGL MQ

Stocks to Watch

Earnings AMD BYD CB CHRW COF DLR ENPH GOOGL HA HOOD JNPR MSFT MTDR NAVI ADP ALKS APH BA BMY BSX CME DB DT FISV GM HES HLT HOG IP KHC KO MAS MCD NSC

Indices TAN ICLN  XLP fang JETS DIA Bitcoin BLOK KWEB SLV EWZ EEM XLE ARKF GDX IWM GLD

S&P500 ENPH FFIV MCD KO TER TWTR MSFT TSLA TMO ABT CDNS TXN V FCX WAB COP MCHP MA NVDA ECL OXY ADI

Movers WIRE OCGN BG UMC EVGO NOVA TWTR CAMT TREX MSFT SPOT TMO TECK ABT BA CRTX ANGN HOOD DB NET

WSB WIRE OCGN WKHS TTCF NOK TSLA HOFV GME BA CLOV HOOD RIOT HUT NET SPCE DWAC CLF ANY NVDA SOFI

Stock Idea; ENPH

ENPH has spiked on a 27% earnings surprise and lifted the entire solar sector. Stock is very extended with premarket high 208 and previous highs 220. One can treat as a momentum trade or look for a pullback.  All solar names are hot: SPWR FSLR CSIQ ENPH JKS so are alternatives.