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Swing Trade Idea – September 8, 2021

Market View

•Global markets are mixed with USA mixed, Europe red, Japan green, Hong Kong green, China red, Asia mixed

•Yield curve flatter with long yields rising, usually positive for tech and negative for financials

•US dollar higher is not positive for commodities and equity

•News: Meme that ECB may reduce QE is hurting Euro and boosting US dollar; BOC rate decision 10EDT; JOLTS 10EDT; Bitcoin dipped post El Salvador having issues with wallet app;  Aluminum and steel prices higher as China reduces production; Europe ramping up coal powered generators due to lack of wind generation and scarcity of nat gas

•Stocks: CTXS higher on activist investor Elliot involved;  NIO and BMBL secondaries; PYPL buying Japan buy now pay later company; COIN after SEC lawsuit if offer interest by lending crypto assets; TSLA 44k China built cars in Aug; PHM reducing forecast due to supply chain; SHW cuts forecast based on material shortages

•USA indices slightly negative in the premarket. S&P500 futures tested 4500 overnight but currently pointed lower. Nasdaq is leading and Russell2000 lagging in the premarket. SPX range into Sept OPEX 4450-4550

•FAANGM stocks are being led by TSLA and AAPL

•Leading sector ETFs are TLT XLE GLD

Stocks to watch: CTXS TSLA PYPL COUP WOOF ASAN ITB

Stocks to Watch

Earnings COUP DADA GENI PATH

Indices TLT XLE GLD ICLN ITB EWZ /BTC EEM SMH TAN XHB ARKK ARKQ ARKF IPO

S&P500 CTXS ALB PRGO LYB OXY PYPL TSLA WMB MRO WYNN APA PENN PHM SHW UHS SPG NEM STX NVDA WDC

Movers CTXS KFY COUP UPST OLLI NNDM ALB PRGO TSLA COTY PATH REVG VRT DADA SMAR GENI SHW SNY

WSB WOOF GSAT HUT TSLA BARK WKHS REE NIO  TTCF AMC PLTR NVDA AMD

Stock Idea; PYPL

PYPL is moving higher on the purchase of a Japanese buy now pay later company.  Premarket high is 299. Would look for a pullback for entry with targets 308, 312 for a seeing.  Tues close 293 needs to hold to validate the idea.