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Swing Trade Idea – July 12, 2021

Market View

World markets are mixed with USA mixed, Europe mixed, China red, Japan red, Hong Kong red, and Asia green. Yield curve is flatter with yields falling weighing on financials and reflation stocks. US dollar higher is negative for equities and commodities. News: Covid Delta strain is a growing concern in the media; China is further restricting DIDI and NTES; media reports that oil is lower on growth concerns; SPCE had a successful launch with Branson on board. USA indices are bifurcated with the Nasdaq green and the other indices red with IWM the laggard.  Premarket set-up is in deflation mode with TLT, FAANGMT and US dollar higher and the rest of the market weaker. Banks start reporting Tues premarket and are worth watching today to see if a bid comes in. 

Stocks to Watch

Earnings

Indices /BTC ICLN TLT FAANGMT SMH QQQ IGV XLE XLF XLB XLI EWZ IWM EEM GLD DIA GDX DIA JETS FXC SPY

S&P500 ALB FAST IVZ AMD LUMN TSLA IR ALXN AMZN AAPL FB NFLX LB FTI MRO DVN OXY SLB APA FANG CCL FLIR UAL

Movers CLDX ASTS SPCE WKME UPST EAT GBX SNY CAKE IVZ DIDI AMC TME RKT FAS DAL HRC ESRT WSO

WSB SPCE OCGN MVIS NIO TSLA SOFI AMD RBLX ARVL HOFV DNUT TRCH AMC RKT SENS DLPN BB BB CLNE GME

Stock Idea; ALB

ALB is a potential breakout trade. Supplier of Lithium used for batteries. Large move Friday so a pullback is likely so some caution is suggested. TRP target 1 181.17 target 2 195.57. Earnings Aug 4