Swing Trade Idea – July 23, 2020
Market View
Global markets are positive with USA, Europe and Asia green. Yield curve is slightly flatter and USD is slightly higher which is neutral/negative for the markets. Oil is lower and commodities lower, which is negative for markets. Nasdaq is leading with TSLA and semis leading. FAANGM are generally flat with MSFT down after earnings. 330 is a high gamma level for SPY that may be resistance and 325 may be support. Looking for a range bound market absent news intraday.
Watch MSFT for buy the dippers, which will move the indices up.
Premarket names:
TSLA earnings beat; TWTR miss but higher user growth; AN beat; MSFT beat but cloud growth below expectations.; Homebuilders on MTH earnings; Electric vehicles on TSLA beat NIO SOLO WKHS NKLA
Stock Idea; TWTR
TWTR missed on revenue but reported an increase in ad engagements and an increase in average monetizable daily active users by 34%. Premarket TWTR is flirting with a breakout over the 39.55 level from March. Would look for pullbacks after the open with 39.55 target or breakout over 40.
![](https://swingtradesdel.wpenginepowered.com/wp-content/uploads/2020/07/07-23-1024x504.png)