.

Swing Trade Idea – August 18, 2022

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

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

•Yields: Yields lower

•US$ -.02% EUR -.03% JPY +.26% AUD +0.33%

•News: USA: Philly Fed, UE claims 830ET Europe: CPI Y-Y 8.9%

•Stocks: BBBY -8% Ryan Cohen selling entire stake; KSS -7.5% deep guidance cut; CSCO +5.4% beat; BJ +6% beat & raise; KEYS +5.7% beat SQM -2.3% earnings ALB sympathy lower

•General: Leading: bitcoin Energy Gold Miners Solar  Lagging: Lithium Faangmt

•Indices: Markets moving higher since 3ET. SPY support 425, 420, 415,  and resistance  427, 430  QQQ below 330 gamma level with  325, 320 support and 330, 332 resistance. Premarket the lean is towards small speculative, most shorted names which will favor IWM. Commodity related names are bid with energy and metals bid up. USA data premarket may change the picture as weakness may reignite the recession meme.

•Stocks to watch:  CSCO WOLF RUN AA TSLA  KSS   Spec Names MNMD BBIG BLUE RIOT BBBY

Pre-800ET

Earnings CSCO SQM WOLF ZTO BJ EL KSS NIO NTES TPR

Indices /btc XLE GDX XOP TAN GLD IWM ARKK XBI LIT EEM faangmt

S&P500 CSCO KEYS PXD FCX MRO OXY DVN COP URI EL AMCR PKI ALB ADI

IWM BJ AMC RUN WGO FRPT BTU AA BBBY MNRL M AXL EAT VERU MAC

WSB AMC AFRM RIVN BBBY GME NVDA

Trade Idea: TAN
Solar stocks are an idea if market continues to favor speculative stocks. Premarket high 88 can be used for a momentum long with 90 immediate target. FSLR, RUN and ENPH are leading. TAN extended but potential to squeeze higher