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Swing Trade Idea – October 31, 2022

Color Key: Positive – Neutral – Negative

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

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

•Yields: Yields higher

•US$ +.41% Euro -.27% Yen -.74% GBP -.65%

•News: USA: Chicago PMI 945ET Europe: CPI 10.7% y/y vs 9.9% GDP 0.2% vs 0.1% Japan: Ind Prod -1.6% m/m Retail Sales 4.5% vs 4% China: Mfg PMI 49.2, Covid lockdowns continue

•Stocks:  AAPL -0.7% China mfg Covid CS +3% 4B F share sell  GME +6% no news gamma squeeze? ROKU +2.8% EPS this week ON-guide

• Earnings up: EMR FMS JELD Earnings Down: GPN HWN ON

•General: Leading: bitcoin, US$ US$ Lagging:  Brazil Clean Energy Emerging Markets, Gold Miners

•Indices: USA indices pulling back premarket with Russell 2000 leading and Nasdaq lagging. US$ and yields are currently higher which is weighing on markets. SPY 387.2 is above 385, 380 support, and below 390 resistance. VIX 26.6  implies a 1.6% daily move. Today is the end of the month and mutual fund EOY.  Though the setup is unfavorable, there is potential for buying stocks that have been leaders. Friday, 50% of options volume was the same day and may continue today as long as SPY > 385.

•Stocks to watch  WYNN MOS AR ON AAPL  HWM EWZ AMD Spec Names GME ROKU

Pre-800ET

Earnings GPN HWM EMR FMS ON JELD ON

Indices /btc UUP EWZ ICLN EEM KWEB EFA GDX faangmt XLE JETS XBI

S&P500 WYNN MOS LVS PARA HWM OKE AMGN GPN AMD DVA CAT

IWM AR GME PTCT CRK FOLD FRO LADR NVAX

WSB GME BABA AMD CCJ

Trade Idea: ROKU
ROKU reports earnings Nov2 and trading up in the premarket on positive analyst comments. Straddle approach: long over premarket high 56.49 or pullback > 54.73;  fade below 54.40