Heading into the open this morning, we just got Retail Sales data at a disappointing print -1.3% vs. -0.6% expected. PPI data showed inflation coming in higher than expected at 0.8%, vs. 0.5% expected.

So, another inflationary signal and a weaker consumer (no more stimulus check spending).

This data sent the September E-mini S&P 500 futures lower initially (from 4252 before the data to 4246.25). However, it has bounced from the lows at the time of writing and currently sits at 4247.25.

The TAN ETF that I am following is trading within the buy opinion range pre-market. Pre-market trades have been around 80.50 - 80.53 in the last few minutes.

I like the idea of getting long this ETF ahead of the Fed meeting tomorrow at these levels. If you haven’t already, be sure to read the Stock Trading Alerts publication for June 15th; it includes a detailed analysis on TAN.

Have a great day, and thanks for reading!

To sum up the current viewpoint and opinion:

I have BUY opinions for:

• iShares Trust Russell 2000 ETF (IWM) for an index reconstitution trade. At this time, I would be looking to be long and then exiting upon the actual reconstituted index going into place on June 28, 2021. Buy the rumor, sell the fact type of trade. Buy Pullbacks. For equity-bearish folks, see the IWM/SPY spread idea in the May 27th publication. Always use a stop loss level that caters to your individual risk tolerance.
• Update: 06/15: The IWM shed 0.29% in Monday’s session to close at $231.02. It is still well above the $223.36 level when initiating coverage. Opinion: stay long. I think there is still time to get on board here, with the plan being to sell on June 28, 2021. See the May 27th publication.
• Defiance Quantum ETF (QTUM) between $44.00 - $49.50. Update 06/15: QTUM closed at $49.66 on Monday. In case you missed this one, I think there is still time to get on board and will raise the buy idea zone to $44.00 - $49.50. It looks like it wants to break out of its range soon, but could find some sellers at the psychologically important $50 level. Always use a stop loss level that caters to your individual risk tolerance.
• Amplify Transformational Data Sharing ETF (BLOK) between the 200-day moving average and $40.00 200-Day Moving Average is currently $39.49. BLOK has a history of high volatility, so proceed with caution. Always use a stop loss level that caters to your individual risk tolerance. Update 06/15: Patience still. I want to jump on board, but prefer to see how Bitcoin negotiates the $40,000 level. Wait for $40.00 to the 200-Day moving average. Monitoring.
• Invesco MSCI Sustainable Future ETF (ERTH) between $67.76 - $70.82. Always use a stop loss level that caters to your individual risk tolerance. Update 06/15: ERTH closed at $76.73 on Monday. Hold longs. Chugging along. If you missed this one, let’s see if we can get a pullback to the 50-day moving average, which currently sits at $74.00. I am liking this one more and more for a long-term holding and will be willing to hold through short-term pullbacks at this time.
• Invesco Exchange-Traded Fund Trust - S&P SmallCap 600 Pure Value ETF (RZV) at the 50-day moving average. Patience and wait for the pullback. Always use a stop loss level that caters to your individual risk tolerance. Update 06/15: RZV 50-day MA is 92.34 as of the close Monday. Monitoring.
• iShares Global Timber & Forestry ETF (WOOD) Initial buy idea zone between $79.07 and the 200-day moving average ($79.61 as of 06/14 close). Update 06/15: Patience and wait for the pullback. Monitoring. Always use a stop loss level that caters to your individual risk tolerance. I will be revisiting this name and lumber soon for developments.
• SPDR S&P 500 ETF (SPY) between $412.26 (61.8% Fibonacci retracement level above) and the 50-day moving average ($416.21 as of the close on June 14th). Always use a stop loss level that caters to your individual risk tolerance.
• Invesco Solar ETF (TAN) between the 50-day moving average ($80.32 as of June 14th) and $81.50. Look for an intraday pullback for entry. Always use a stop loss level that caters to your individual risk tolerance.

I have SELL opinions for:

NONE

I have a HOLD opinion for:

• First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). GRID has traded through our idea range of between $86.91 and $88.17. Update 06/15: GRID closed at $91.78 yesterday. Opinion: hold longs.
• Always use a stop loss level that caters to your individual risk tolerance.

Thank you for reading today’s Stock Trading Alerts. Your readership is valued and appreciated. Have a great day!

Thank you,

Rafael Zorabedian
Stock Trading Strategist