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Swing Trade Idea – September 14, 2021

Market View

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

•Yield curve steeper which is positive for cyclicals

•US dollar  lower which is positive for equities

•News: China locking down cities in Fujian affecting China sentiment; Rumour that China investigating Macau casinos (to be verified); CPI 0.3% vs .4% expected which boosted markets

•Stocks: AAPL product announcement today; ORCL earnings beat Rev slight miss

•USA indices bounced positive after CPU release

•SPX range into Sept OPEX 4450-4550 with 4500 a key transition level

•FAANGM stocks are all positive being led by MSFT

•Leading sector ETFs are bitcoin, XLE, PRNT, ARKK, IWM lagging KWEB EEM, TLT, SMH

Stocks to watch: AAPL FB ORCL CCJ UUUU ASAN SDC LVS

Stocks to Watch

AAPL FB ORCL CCJ UUUU ASAN SDC LVS

Stock Idea; MPC

MPC is an energy long idea should energy continue to run. Option market is pricing in $60 for Friday close  TRP target 1 61.95 and target 2 65.29. Would look for a pullback for entry. Options are very liquid