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Swing Trade Idea – August 3, 2021

Market View

World markets are mixed with USA green, Europe mixed, Japan red, Hong Kong red, China green and Asia mixed. Yield curve is slightly steeper but flattening in the premarket. US dollar lower but rising in the premarket. News: China is banning train arrivals from 20 provinces due to Covid and some states are mandating indoor masks; China newspaper labeled videogames “opium of the mind” which is impacting NTES and TCEHY and USA gaming stocks are also weak; SNY buying TBIO for $3.2B may spice the biotech sector, and 2 Fed speakers and USA factory orders to add some excitement today.  USA markets are slightly green and led by small caps but have been slipping in the premarket. Oil flipped from green to red, dropping over 2% but can’t find news.  FAANGMT are led by TSLA, which is still a fan of the hedge fund call buyers and may get bid today. S&P500 futures 4400 is still the major gamma level which can act as a magnet with resistance at 4435, 4450 and support at 4375. Setup is like Monday, be alert for a small cap reversal and a move back into Nasi large caps

Stocks to Watch

Earnings UAA ZI HSBC SPG WMB CMI COP DD DISCA PSX STLA SEDG WLTW CLX BABA BHC LLY

Indices ICLN TAN XLE IWM XLF XLB JETS XBI XLI DIA SPY KWEB /BTC TLT GLD

S&P500 UAA FTI DXC MU WLTW MOS SPG IT MAR DD HFC MRO RL APA TSLA CLX TTWO ZBH LLY HSIC FLIR ALB QCOM

Movers SEDG BP STLA DXC WLTW PLAN XPO DD PLNT KKR WDAY ABNB DNUT CLX TTWO LLY REYN YOU ANET EA ATVI

WSB SENS CLOV DNUT CLNE TSLA GOEV GEO SHEN DLPN CRSR RIOT NIO 

Stock Idea; ZI

ZI operates a cloud-based market intelligence platform for sales and marketing. Catalyst for today is an earnings beat, an upgrade to $70 and 7.5% short interest.  Thesis is there is a possibility of a gap and go so game plan would be to look for an opening pullback that holds for a long. 60 would be a likely pullback level