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Swing Trade Idea – September 7, 2021

Market View

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

•Yield curve steeper with long yields rising. Usually negative for FANG and positive for financial

•US dollar higher is weighing on commodities with oil and precious metals lower

•News: China exports grew higher than expectation; Eurozone GDP revised higher to 2.2% for quarter; Bitcoin legal tender in El Salvador; BA: Dreamliner delayed to Oct by FAA, Ryanair stopped discussion for 737Max10

•Stocks: MTCH added to S&P500, DIS “Shang-Chi” made $90M in move theatre debut; Oil lower as China imports running 1M BperDay below Feb levels; CXP (office REIT) buyout by PIMCO

•USA indices are flat in the premarket. SPX range into Sept OPEX 4450-4550

•FAANGM stocks are being led by AAPL and TSLA

•Leading sector ETFs are KWEB EWZ XLF EEM MSOS

Stocks to watch:  MTCH TNDM PDD SPOT TIGR FUTU AA BMRN SAVA

Stocks to Watch

Earnings

Indices KWEB EWZ /BTC XLF EEM XLB MSOS SLV GDX GLD TLT FXC ICLN YEN XLE IBB

S&P500 LIN VTR NFLX LVS WYNN MA RF TSLA C PENN BAC AMCR CARR NEM RCL APA NCLH PEG CCL MRO

Movers CXP VEON HUT AMC BABA CLOV HUYA SKIN AVTR JD NVTA BMRN FSM AMGN BA NOK

WSB HUT AMC GOEV CLOV REE PAYA GSAT MVIS DLPN ARVL NIO BA NOK TTCF BB

Stock Idea; PDD

Pinduoduo Inc., through its subsidiaries, operates an e-commerce platform in the People’s Republic of China. PDD has gapped premarket. 109.8 is the breakout level on the hourly chart. One could look for a pullback after the open with 105.8 a level that needs to hold for a swing with the 109.8 as the first target. TRP target 1 112.37