.

Swing Trade Idea – May 20, 2022

Market Setup pre-800ET

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – Bearish  global set-up

•Commodities:  Gold, Silver, Oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

•Yields: Yields slightly higher and steeper

•News: China: CB cut 5yr prime by 15bps; Europe: German PPI 2.8% vs 1.2% m/m;

•Stocks: PANW beat and raise – CRWD FTNT TENB ZS sympathy higher;  AMAT EPS miss –guidance due to supply chain; DE beat raise; DECK big beat; ROST miss –guidance; FL sales miss +guidance;

•Indices: Global equity strength – USA indices rising overnight into AM SPX expiration. SPY below key 395 gamma level – above look for high gamma 400 and below look for support at 390. QQQ below 295 gamma level – above look for high gamma 300 and below look for support at 290. VIX futures uninverted and < 30 which can support markets today. SPY 1.75% move based on volatility.  Breadth broad at open and heavily shorted names well bid. Potential for squeeze to SPY 400 with ARKK type names leading. Expecting higher volatility Monday

•Stocks to watch: PANW AMD PDD DECK  ROST DE BURL  Spec Names: RIVN IQ S NIO

Pre-800ET

Earnings DECK PANW VFC FL AMAT DE ROST

Indices ARKK KWEB SOXX /btc SMH JETS QQQ XLK faangmt QQQ XLK IWM FEZ XBI EFA TLT yen euro

S&P500 VFC NVDA FCX AMD AAL CCL TSLA BA FTNT NCLH MU GM PYPL F QCOM ROST TJX DE AMAT DG HPE

IWM EBS MSTR APPS PLUG SI BE CROX AMC CLF X LTHM

WSB NIO MSTR RIVN COIN PLUG NVDA BABA CCJ AMD CLF AMC AFRM BA NET TSLA HOOD F 

Trade Idea: PANW
PANW is trading higher on earnings beat and raise. Premarket high 489.9. Potential breakout above 491.5 or look for bounce on pullback > 470.

Security stocks are potential longs today: FTNT TENB ZS other names to watch