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Swing Trade Idea – May 21, 2021

Market View

World markets are generally positive with USA green, Europe green, Japan green, Hong Kong green, China red and Asia green. Yield curve is flatter which is positive for tech stocks and negative for financials. US dollar is positive which is negative for commodities.  USA markets are being led by IWM which is comprised of beaten down companies with poor financials. Leading sector ETFs are ARKG, clean energy, oil based energy and Cannabis. USA large cap indices are balanced with no particular lean, which is unusual. FAANGMT are all positive with TSLA the clear outperformer and the one to watch.  Futures were quiet overnight and expectation is for SPX to remain within 4200 -4100 and large trading levels 4175 and 4193.  Breaks above 4200 or below 4100 can lead to significant moves. Speculative tech stocks look to be the pony to ride based on premarket but must watch the open for confirmation. Today is options expiration, look for higher volatility next week.

Stocks to Watch

Earnings AMAT DE FL PANW ROST VFC

Indices BTC ARKG XLE ICLN IWM MSOS XLB IBB XLY JETS XLF XLI SLV EEM

S&P500 F TSLA APA NCLH T DE CCL FANG MRO VIAC ROST ETSY SLB AMAT NUE MGM VFC STX R AZO PSX RL PVH NLSN

Movers YALA PANW BKE ASAN INSP PSTG COMM FSR FL SBRA TSLA COIN USO AMC PLTR VFC AMH NLSN FAZ CSCO

Security PANW FEYE ZS BAH OKTA FTNT

ARKK IOVA PSTG SPLK TSLA NVTA SQ ZS Z HUYA

Cannabis VFF TLRY CGC ACB HEXO

Bitcoin RIOT GBTC MARA CLSK

Stock Idea; ZS

ZS is a cloud based security company that is benefiting from PANW earnings. Reports earnings next week which is an additional catalyst. Potential day/swing trade but suggest watching the QQQ and HACK for confirmation.