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Swing Trade Idea – June 25, 2021

Market View

World markets are generally positive with USA green, Europe red, Japan green, Hong Kong green, China green and Asia green. Yield curve is slightly flatter. USD is slightly lower which is positive for commodities and equities. USA PCE and sentiment will be released prior to the open and may be market moving.  USA markets are relatively unchanged and with indices stretched at resistance look for a range day with the lower odds for a trend day. The leading sectors are China internets, emerging markets, financials and Cannabis today.  Financials are benefiting from Fed stress test which will allow banks to increase dividends and do share buybacks which are expected to be announced Monday. Stocks in the news: NKE big earnings beat, KMX earnings beat, FDX earnings miss, BB earnings beat but stock lower and SPCE granted license to take passengers to space.  NKE beat was huge and is moving FL, UA, SKX, LULU in sympathy so watch the shoe and sports apparel group today. Russell is rebalancing today so expect volatility into the close. Some popular names will be added like PLTR, SNOW, PLBY, DKNG are being added.

Stocks to Watch

Earnings FDX KMX NKE

Indices KWEB GDX SLV EEM XLF TAN MSOS XME DIA TLT ARKK ICLN /BTC GBTC XLE EWZ XLP XLI

S&P500 NKE KMX UA VMC NTAP URI MLM NUE NFLX WFC DRI TPR BAC FDX UPS EQR APA MRK LIN INTC XOM

Movers SPCE PIRS NKE KMX GMS LAZR VMC NTAP TNPH AEMD RAD AMC CLOV SNDL BB

WSB WKHS CLF UWMC TSLA ARVL BARK GME ASO RIOT SNDL BB DLPN OCGN TLRY

Stock Idea; NKE

NKE had a major earnings beat and caught traders leaning the wrong way and moved well above the expected move which can lead further trending. Premarket high is 152.77 for a momo trade or can look for pullback to vwap for a long which prevents getting caught if the stock sells off. Other names that can be long candidates are FL, UA, SKX, LULU