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Swing Trade Ideas – December 18, 2020

Market View

In the premarket world markets are mixed with USA mixed, Europe red, Japan red, Hong Kong red, China red and Asia red.  US dollar is slightly positive, and a rise would be negative for equities and commodities. Yield curve is unchanged and not impacting. Oil is slightly lower which is a small negative. US indices are being led by the small caps. FAANGMT are flattish with TSLA strong ahead of the addition to the S&P500. TSLA is being added to the XLY which will cause some juggling in that sector ETF.  XLY major holdings are AMZN, HD, NKE, MCD which may be jostled.  QQQ is also adjusting holding after the close. Some volatility at the open and at the close is expected today. Setup looks like a range day but keep your head on a swivel.

Premarket names:

FDX good earnings; TSLA S&P add; BIDU momo; SPCE share offering; BB WGO earnings; Bitcoin MSTR GBTC PYPL SQ RIOT MARA;  Strong premarket LAZR IIVI SNY CRWD SNE PAW NVTA COUP FUTU

Stock Idea; IIVI

IIVI manufactures photonic devices. Breaking out from a flag pattern after a post earnings ramp. 

Look for a breakout above 77 for continuation.