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Swing Trade Idea – July 20, 2022

Market Setup

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals (Aluminum Copper Nickel Palladium Platinum Zinc)

•Yields: Yields lower and flatter

•US$ +.34% Euro -.48%

•News: USA: Home sales 10am Europe: Nat gas supply concerns China : Macau to reopen casinos Sat

•Stocks: NFLX  loss less subs than fct  ABT beat, raise guidance; OMC beat;  ASML cuts fct BBWI -10% guidance cut due to inflation

•General: Leading: /btc TLT Semiconductors Lagging: Energy EEM Financials

•Indices: USA short squeezed Tues into Vix expiration and pulling back in premarket. SPY moving down from 395 gamma level (resistance) towards 390 gamma level (support). Break of 390, look for  385 and 380 support. QQQ moving down from 300 gamma level which serves as resistance towards 295 gamma level which serves as support.  Post Vix expiration days have tended to be weak, watch SPY 390 and QQQ 295 as key levels to hold.

•Stocks to watch:  NFLX SNAP BBWI MLCO WYNN LVS ABT ASML  Spec Names Can Short Squeeze: COIN

Pre-800ET

Earnings NFLX OMC ABT ASML BIIB  BKR

Indices /btc TLT ARKK BLOK AGG XLE EEM XOP EFA GDX XLF KWEB /6e

S&P500 NFLX OMC IPG WYNN DIS ABT LVS WBD PARA BBWI ANET JNPR BKR CZR MOS TSN APA

IWM MSTR NVAX RVMD ADTN

WSB COIN AMC TSLA CCJ NIO F

Trade Idea: MLCO
MLCO along with LVS and WYNN are an idea based on the reopen of Macau. Long > 5.6