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  • Swing Trade Idea – August 21, 2024

    Laurie’s Abbreviation Index:

    ** ‘div’ – dividend 

    ** ‘m/m’ – month over month

    ** ‘y/y’ – year over year

    ** ‘Inven’ – inventories

    ** ‘mfg’ – manufacturing 

    ** +/- – plus or minus, positive or negative

    ** Underlined text – higher volume premarket

    ** ‘d’ – day

    ** ‘Y’ – year

    **govt – government 

     

    Color Key: Positive – Neutral – Negative

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

    • Commodities:  Gold, Silver, Oil, natgas, AGGS, Industrial Metals, Bitcoin
    • Yields: 30Y Bond 0%  Currencies:  USA$  +.11%, YEN -.47%, Vix: 16
    • NewsUSA: BLS employment revision 10ET This is a revision to non-farm payrolls up to March, Banks estimate that the number will be between -300k and -1M. Market may react but it’s common knowledge that the BLS numbers would be revised lower. FOMC meeting minutes 14ET
      Stocks:  DY-3.3%, M-7.6%, TGT+13.6%, TJX+3.4%, ADI+.2%, KEYS+11%,   EPS JD-8% WMT welling investment and will focus on WMT brand in China
    • Overview: SPY 559.8  support 557 555 and resistance 560 562 SPY expected move +/- 3.2  QQQ 481.3  with resistance 485   support 478 475  expected move +/- 4.2. USA indices are mildly positive led by the small caps. TGT and TJX positive earnings reaction is lifting retail stocks but M cut guidance. TGT move is > expected move which can lead to continuation and indicates shorts covering. AMZN leading MAG7 as expected, GOOGL is lower.  USA jobs revision at 10ET may be market moving as well as FOMC meeting minutes at 14ET though Powell on Friday is the big event. SPX5600 is the big level to watch and with positioning,  market makers should be buyers below and sellers above.    Expected moves SPY(561.9-555.5), QQQ (484.4-476.1), IWM(214.9-210.5), SPX (5629-5565)


      Stocks to watch TGT, TJX, KEYS, ADI, XRT, AMZN, GOOGL, JD,

      Spec Names    ASTS

    Pre-800ET
    Indices XRT, SLV, EFA, XLP, IWM, EWC, KRE, XLY, ETHE, IBIT, GLD, TLT,

    S&P500 TGT, KEYS, TJX, DLTR, DG, ROST, GLW, ALB, ADI, F, TXN, WMT, WBA, GOOGL

    NASI DLTR, ROST, TXN, ADI, PDD, WBA, GOOGL
    R2K VGR, GOGL, LZB

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