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Swing Trade Idea – October 8, 2021

Market View

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

•Yield curve  steepening in premarket

•US dollar lower  which is positive  for equities and commodities

•News: USA non-farm payroll 194k vs 500k; USA unemployment rate 4.8% vs 5.2%;  China and India short of coal for electricity generation; Evergrande still halted

•Stocks: HD downgrade; QDEL plans to ship 70m antigen tests per month; OTLY JPM upgrade 21 target; TSLA investor meeting

•Sectors: Gold spiked post jobs report and US dollar dropped

•Indices: USA indices were flattish prior to jobs report; Very volatile post jobs report so take care; SPY 440 SPX 4410 is a key level to hold; SPX 4450 is the next resistance above. SPX support is 4380. SPX daily move expected to be 1.65%

•Stocks to watch: bitcoin (GBTC RIOT SI BTBT) GDX (NEM SBSW GFI) SLV (AG HL WPM) OTLY QDEL ZIM

Stocks to Watch

Earnings

Indices /btc GDX JETS XLE BLOK GLD XLF fang IBB ICLN TLT

S&P500 MRNA MRO APA HRL OXY DVN HAL NOV UNP VLO GM FAST CAG JBHT CHTR CMCSA LOW HD OTIS

Movers OTLY QDEL  SBSW SNDL BABA MRNA SKIN SONY JEF CI UNP C DAL MS ALLO SDC ASX EDU JBHT TLRY ORCL AA GME WSB SNDL HUT RIOT PLUG NOK CRSR ANY WKHS IVR TLRY SENS AMC

Stock Idea; SBSW

SBSW is a gold Palladium company. Bounced in premarket and moved higher with gold post the jobs report. Big move so take care. Premarket high is 14.23. One can trade the momentum higher or look for a pullback. Other names are HL and CDE. Watch the gold chart to confirm.