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Swing Trade Idea – June 25, 2020

Market View

USA markets are opening lower than Thurs close ahead of unemployment data and durable goods data with bank stress results to be released after the close. Europe is down slightly and China is closed so international markets are a slight negative. Yield curve is flatter, which is negative for financials and hence most  negative for the Russell 2000. Oil is down and commodities are negative and the USD is higher, a trio of factors which are negative for markets.  SPY is close to the 300 level, which may be a support level. Below that look for 297. 305 is a key level on the upside 

Premarket names:

DIS delaying park open; KBH earnings miss; AAPL closing more stores; travel names,  financials, energy names

Stock Idea: DIS

With the market weak, looking for weak stocks to short. DIS is delaying CA park, and between park closures and movie theatre shutdowns is not in good shape.  Technically stock will be breaking into a gap with  volume support at 105-100. DIS is a DJIA stock, which is the weakest large cap index, DJIA moving down will be negative for DIS. Risk is  a good employment report.