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Swing Trade Idea – August 03, 2022

Market Setup

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields higher and steeper

•US$ -.02% EUR +.13% JPY -.3% AUD -.04%

•News: USA:  ISM Services PMI 10ET, Factory Orders 10ET China: Caixin Services PMI 55.5 vs 54 Europe: Services PMI 51.2 vs 50.4, Retail Sales -1.2%

•Stocks: AMD  -5% lower guidance (NVDA sympathy) SBUX  +1.5% beat PYPL +13.9% beat (SQ sympathy) MRNA +3.8% beat, $3B buyback (lift biotech sector) MTCH -16% miss SEDG -9.7% miss (weigh on solars) SOFI +11% beat ABNB -6.5% rev miss

•General: Leading: XBI bitcoin ARKK Hack XLE Lagging:  China Spec tech, Semis Tech Financials

•Indices: USA markets rising premarket. SPY above 410 gamma level with support 410, 406.5,405,400, 395 and resistance 413, 415  QQQ above 315 gamma level  with 312, 310, 305, 300 support and 317, 320 resistance.  High short names were bid Tues and are bid today in the premarket so potential of more squeezing today. Higher yields is normally negative for tech so take care.

•Stocks to watch  PYPL MRNA  MOS ARKK TSLA  AMD NVDA Spec Names HKD (AMTD) SOFI

Pre-800ET

Earnings PYPL CVS MRNA SBUX DISH EPD EA PING DNOW UAA RGEN  MTCH HZNP CGNX ABNB AMD CZR DAN OMI

Indices XBI /btc ARKK IBB HACK XLE ARKF IBB XLF IWM GDX XLB TAN ICLN SMH SOXX TLT

S&P500 PYPL NLOK MRNA LUMN CVS MOS CF  SBUX TSLA GILD AAL GNRC MRO SEE MATCH SEDG AMD SNPS CDNS

IWM PING NTLA AAWW ARQT HCC AMC DNOW LTHM ARWR GME KN AXNX DAN OMI SIGA

WSB AMC AFRM COIN TSLA F GME AMD NVDA

Trade Idea: PYPL
Post earnings trade. Premarket high 102.61 can be used for a momentum long or look for a pullback > 98.  Below 98 potential for fade risk