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Swing Trade Idea – July 6, 2021

Market View

World markets are mixed with USA mixed, Europe red, China green, Japan red, Hong Kong red, and Asia mixed. Yield curve flatter with long yields lower which is positive for tech, precious metals and negative for financials. US dollar is down slightly but commodities are mixed with metals up, energy up and softs down. News: WTI oil higher as OPEC could not reach an agreement; USA listed China stocks lower after CCP stopping DIDI from adding customers; German factory orders fell due to lower auto orders due to chip shortages – TATA also warned that chip shortages are affecting shipments – impacting F and GM; BNTX and PFE are down on Israel report that the vaccines are losing their effectiveness with Delta Covid; ransomware attacks by Revil, demanding $70M  – minor increase in security stocks with FEYE leading. FAANGM stocks are leading in the premarket much like last week. SPX call wall provides resistance at 4400 and support at 4300. Volatility selling is keeping volatility low but increasing the risk of a larger move. Expectations are for markets to grind higher into at least Jul 12 with risk rising.

Stocks to Watch

Earnings

Indices /BTC GDX GLD SLV XLE XME YEN JETS FANG SMH KWEB EEM EWZ XLI ARKF XLV IBB XLP ARKQ XLF DIA TLT ARKG

S&P500 FCX AXP NEM IR OXY PFG NVDA MRO FANG APA SLB FTNT RMD FLIR NWS DPZ SRE PFE GM DGX ETSY WBA MMM

Movers WB EURN KOS AMC TASK AXP WISH IR CLOV GME   AMC AHT DIDI (-22%) HCM BZ NAVI NVRO

WSB OCGN SHEN AMC RIOT NOK SNDL WISH CLOV NVDA TRCH IVR NIO ITUB GSAT F GE

Stock Idea; FEYE

Today’s idea is security stocks based on the Ransome attacks. FEYE is leading in the premarket but there are many other names such as FTNT PANW CROWD. HACK and CIBR are 2 ETFs that hold a basket.

FEYE target 1 22.53 and target 2 24.21 with TRP