.

Swing Trade Idea – August 10, 2021

Market View

World markets are mixed with USA mixed, Europe mixed, Japan red, Hong Kong green, China green and Asia mixed. Yield has been steepening in the premarket which is positive for financials and small caps. US dollar is slightly higher but commodities are currently higher, bouncing from Monday’s drop.  USA indices are flattish relative to Monday but have moved up overnight after a dip to Monday’s RT low. News: USA Senate will start debating the infrastructure bill today; API will release weekly oil inventories today; CP submitted a new offer for KSU; AMC lost less money than expected and will accept bitcoin;  WDAY announced a deal with GOOGL for clients to run its apps on Google Cloud. Expecting S&P500 to remain range bound ahead of tomorrow’s CPI release with 4500 an upside target into Aug20 options expiration and 4400 a key support level to the downside. SPY 441.3 is the overnight low and 442.5 the overnight high as reference levels.

Stocks to Watch

Earnings AMC APPS CHGG ELY IIVI NTR SYY

Indices KWEB XLE EEM ICLN XBI PRNT DBC ARKn FANG QQQ /BTC SLV Yen XHB XLF

S&P500 KSU NUE MRO OXY FTI FANG APA OXY SYY PSA SLB FCX VLO SIVB FRC CF LIN PRGO

Movers ARCT PRPL ARRY NTR CDEV EVBG BNTX JAZZ IQ FUBO PRA SDC FLGT API SIVB IGMS PLNT ASX

WSB AMC PLUG GME PLTR RIOT WISH SOFI CRSR CLF RBLX TLRY

Stock Idea; APPS

APPS is a post earnings idea after beating on earnings and revenue and increasing guidance. Premarket high 68.5.  One can look for a momentum breakout above that level or a pullback after the open for a long. Watch the QQQ and ARKK for confirmation