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Swing Trade Idea – September 27, 2021

Market View

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

•Yield curve  steeper with the 10yr yield rising

•US dollar higher which is negative for equities and commodities

•News: China: PBOC injected $15B US, Evergrande  has another payment due; USA:  Congress debating infrastructure and debt ceiling this week, Durable goods and Fed Heads talking; German election led to coalition and not far left; Power shortages in Europe and China leading to higher prices and reduced production; Nat gas prices skyrocketing leading to Europeans turning production back on, turns out they still need carbon

•Stocks: Report AAPL iPhone 13 delayed due to supply chain issues; AAPL and TSLA suppliers suspended production in China factories to comply with tighter energy consumption policies; S&P500 key level is 4400 as below that level dealers will be selling into a decline. 4450 is resistance based on market positioning. FANG stocks are all weak with TSLA leading to the downside. Energy and selected commodities leading to the upside.

•Stocks to watch: AAPL TSLA BBIG XOP ARQQ LNG

Stocks to Watch

Earnings

Indices /BTC XLE SLV XLF JETS MSOS DBC GDX IWM XLB KWEB SMH XLK QQQ TLT FANG ARKK Yen ARKF

S&P500 OXY APA MRO HAL AAL DAL C NUE BAC COF CAT NVDA LVS AMAT LRCX VRM KLAC INTC

Movers XLRN FANG CLR DVN ASTS PUK CLF LNG ZY GOEV ALV MSFT TSLA MU GMAB GOOGL BB BABA ABNB AMC

WSB CCJ BA CLF RIOT  AMD AFRM NVDA PLTR

Stock Idea; AFRM

Arqit Limited develops and offers quantum key distribution network. It offers QuantumCloud, an unbreakable software encryption keys, using satellite to deliver quantum information to data centers. ARQQ is a risky idea but strong in premarket and is not directly affected by movement of major USA indices. Trading 25.52 premarket with resistance at 30. Caveat emptor