Five Themes to Trade in the Market

June 21, 2020

Mish's Daily

By Mish Schneider

blankNo doubt our Economic Modern Family continues to give us reasons for concern.

To end the week, Regional Banks KRE, Transportation IYT, and the Russell 2000 IWM, not only all failed to clear their upper ranges and moving averages, but they all also sold off to close beneath their fast or 10-day moving averages.

However, the family does give us mixed signals.

Granny Retail XRT held the 200-DMA.

Biotechnology IBB traded to and closed at new all-time highs!

Sister Semiconductors SMH, is holding over 150, also close to possibly pushing higher.

Sounds confusing, right?

So, what I have done for you is create a very in depth look at five different themes and the stocks that are setting up in each theme.

Some of the stocks are momentum plays, while others are more value plays.

Using two of MarketGauge’s proprietary indicators, Triple Play and Real Motion, I go through 18 stock picks in five different themes:

  • Chinese Companies
  • Solar Stocks
  • Fuel Cells
  • Food Commodities
  • Foreign ETFS

I dissect them and give you specific entries, risk points and targets.

There is literally something for everyone and every kind of trader and investor.

As mentioned in the video, the macro of the overall market remains very much a consideration.

Hence, some picks will go counter while most will have an impact from what happens at this very critical juncture in the market.

You can watch the video here.

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S&P 500 (SPY) 312.50 pivotal. 320 big resistance 302 support

Russell 2000 (IWM) 147.20 resistance with support at 141

Dow (DIA) 260 support 263 resistance

Nasdaq (QQQ) 240-247.82 range

KRE (Regional Banks) 41.65 resistance 40.00 pivotal support

SMH (Semiconductors) Inside weeks- 139.78 last week’s low-155 resistance

IYT (Transportation) 158 support 168 resistance

IBB (Biotechnology) Finally cleared 136-and had a new all-time high close

XRT (Retail) 200-DMA 40.50 support to hold 43.50 resistance

Volatility Index (VXX) 34.50-38.50 range

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