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Swing Trade Ideas – October 29, 2021

Market Setup

•Global markets are weak with USA mixed, Japan red, Europe red, Hong Kong red, China green and Asia red.

•Yield curve steeper

•US dollar slightly higher

•News: German GDP -1.8 vs 2.2%; USA PCE, PMI, Consumer Sentiment TBD;

•Stocks: AMZN missed and weaker guidance; AAPL missed and no guidance; SBUX rev miss China blamed; WDC beat guidance cut (MU STX sympathy); TEAM beat; DXCM beat; X beat and div raise; FB name change; ZEN buying SVM stock down; ABBV beat;

•Indices: QQQ and SPY are down on the AMZN/AAPL but Russell is positive. Premarket the indices are being supported through rotation into other sectors like financials and energy and appear resilient. SPY 455 and QQQ 380 are key support levels

•Sectors: Leading: Energy Financials Lagging: China Internet, semiconductors, discretionaries

Stocks to watch: AAPL AMZN WDC FB LCID NWL X TEAM 

Stocks to Watch

Earnings AAPL AGL AMZN AVTR CG FE FTV GILD HIG KRG ABBV ABR AON CCJ CERN CHD CVX HUN LHX LYB WDC

Indices XLE XLF EEM KWEB faangmt TLT XLY QQQ EWZ SMH ICLN ARKF SLV TAN SPY FDN GDX ARKK XBI

S&P500 PSX NWL CVX FB CAT RMD FB ABBV DFS FANG OXY WDC DVA SBUX AMZN AAPL LYB STX MU ETSY OKE GILD

Movers BEST ARGX ATEN ACVA HUN EQT LCID SKX AYX NVAX ASIX FB ZEN MVIS WDC FTDR SBUX AAPL CHTR KOF LYB

WSB CLF SHEN TSLA F HOOD NVDA CCJ MVIS AMZN DWAC OCGN HOFV WISH CLNE NOK SDC

Stock Idea; LCID

LCID is an EV maker attracting high option open interest in advance of the delivery of it’s luxury AIR model. This is a day trading idea. High open interest at 40 and 42 are targets to the upside today.