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Swing Trade Idea – June 15, 2021

Market View

World markets are mixed with USA mixed, Europe mixed, Japan green, Hong Kong red, China red and Asia green. Yield curve is unchanged. US dollar is slightly higher does not seem to be impacting commodities which are mixed. US retail sales and PPI will be released at 8:30AM and may move markets. USA markets are very muted ahead of the FED meeting Wed. Monday saw a hard rotation from reflation stocks into tech and premarket there appears to be a slight leaning in the same direction. SPX has major gamma levels 4250-4275 which can define the trading range. Top S&P sectors are energy & travel and weakest are copper & steel.  WSB names are in still in play with the top movers OCGN CLNE WISH RIOT and CLF.

Stocks to Watch

Earnings QD

Indices BTC XLE TAN JETS ARK IBB HACK SPY SLV SLX EEM XME GLD

S&P500 WELL MRO MOS OXY ETSY LUV TROW LIN BA XOM AMAT SLB MU DAL  ARE FAST WU NUE FTI HPE PFG PLD ICE

Movers RAPT CERE WISH CLNE CRSR MOGO SAVE CLF LX AMC WELL MSTR SRPT BA SAGE QD WOOF ARE FCX BHP

WSB OCGN WISH CLNE CLF AMC RIOT BGS DLPN SPCE SENS IVR UWMC GME MVIS TLRY NOK PLUG NIO

Stock Idea; CROX

Plastic shoe maker had large moves Friday and Monday. No news to justify the move so a pure technical trade. Would look for a trade above Monday’s high or an intraday pullback.