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Swing Trade Idea – June 22, 2021

Market View

World markets are mixed with USA mixed, Europe red, Japan green, Hong Kong red, China green and Asia mixed. Yield curve is slightly steeper which is positive for financials in particular. US dollar is higher which is a negative for equities and commodities.  US markets are slightly positive being led by large cap tech with financials and small caps lagging.  Crypto assets are down hard which is weighing on stocks like RIOT, MARA and SQ.  Market moving event today will be Powell speaking at 2pm where market will be looking for clarification on tapering and rate rises.  Markets may stay range bound into the Powell testimony as long as SPY stays above 420 with 422 likely resistance. MEME stocks are still in play with GME and WISH two names to watch.

Stocks to Watch

Earnings PLUG MUDS

Indices XLB QQQ IBB FANG SMH SPY /BTC EEM IWM EWZ TLT XLF

S&P500 BLL FBHS LIN FDX MOS F GM NVDA TSLAA CAT LRCX XOM XLNX FCX TSLA FTI LVS WYNN EVRG MGM OXY CVX WFC

Movers SAFM GME SBH KFY CLOV CRWD BLL HALO AUDC FBHS WISH PLUG GENI FDX F MVIS MSTR KOS SBLK CLNE EVRG

WSB CLOV PLUG OCGN WISH NVDA TLRY F WOOF ASO GOEV MVIS SENS RIOT SNDL CLNE HOFV NIO IVR SPCE PLTR

Stock Idea; CRWD

Crowdstrike is a strong stock in the security space. Today’s catalyst is an upgrade by Stifel for $300. Security stocks have been strong and CRWD a strong performer. Caveat is the Nasdaq must remain strong for CRWD to perform. Premarket high is 245 but prefer a pullback for a long entry.