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Swing Trade Idea – August 16, 2022

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

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

•Yields: Yields higher

•US$ +.38% EUR -.31% JPY -.32% GBP -.32% CAD -0.03%

•News: USA: Building Permits 830ET Europe: Econ Sentiment -55 vs -52.7 Canada: CPI 830ET

•Stocks: WMT +4% beat; 2023 earnings -9%, inventory +25% Y-Y ; HD -.9% beat;  DNA+22% +guide BE -8% share offering

•General: Leading: Energy, staples, retail, biotech, bitcoin Lagging: China, Brazil, euro, materials

•Indices: USA consolidating premarket. SPY support 427.5 with gamma support 425, 420, 415,  and resistance  430  QQQ above 330 gamma level  with  325, 320 support and 335 resistance.  Indices are statistically stretched and susceptible to pullback however low volume grind-up can continue. Stronger US$ and higher oil prices in theory are not positive. Look for strength in retail following WMT, HD earnings with TGT, M, JWN, COST, AMZN sympathy moves. TSLA strength with split Aug25 is worth watching.

•Stocks to watch:  TSLA AAPL WMT FCX SWN  JD  Spec Names DNA NU ONON AMTD(+38%)

Pre-800ET

Earnings GLBE HD ONON SE WMT NU DNA

Indices XLE XOP /btc XLP ARKK TLT KWEB EFA ITB /6e XLB

S&P500 WMT FCX TGT PARA DVN

IWM M AA CRK AR CLF X BE NOVA BBBY DVAX BEAM CHK

WSB HOOD CLF TSLA BROS BBBY BABA PLUG NIO AMC

Trade Idea: CGC
CGC and Cannabis sector is moving without news. Could be short squeeze but potential for trade. CGC premarket high 4 with Put/Call .25 on Monday. TLRY is a popular name and MSOS is an ETF to trade the space. Options market pricing is 20% higher by Sept expiration.