.

Swing Trade Idea – November 02, 2022

Color Key: Positive – Neutral – Negative

Market Setup- Pre 830ET

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

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

•Yields: Yields lower

•US$ -.3% Euro +.2% Yen +.7% GBP +.2%

•News: USA: ADP jobs 815, FOMC 14ET Europe: mfg PMI lower

•Stocks: AMD +5% EPS miss -guidance; MTCH +15% EPS CZR +7% EPS beat sports betting

•Earnings up: CVS MDLZ HZNP Earnings Down: ABNB LTHM EL PARA CHRW

•General: Leading: China internet, Emerging Markets, Semiconductors, Gold Miners Lagging:  US$

•Indices: Global indices are higher in a risk-on / short cover set-up ahead of the FOMC meeting. SPY 390.73 is very extended with a potential for a short squeeze to 395 & 400 or a pullback towards a 385 support. The US$ and yields are lower, favoring commodities, emerging markets, and lower quality companies (high short interest). 10am ISM and Jolts data may move markets, so take care.

•Stocks to watch: AMD CZR DKNG BABA MDLZ  MGY CHGG AAPL ABNB LTHM EL Spec Names MTCH DT

Pre-800ET

Earnings SMCI CRK LTHM CAKE CWH PUMP AMD CZR MDLZ MTCH SCI YUMC CVS GSK HZNP NVO ABNB AMCR DVN ET LTHM PRU ZI APO CHRW DT EL GNRC PARA

Indices KWEB EEM ICLN SMH GDX SOXX GLD EWZ UUP faangmt

S&P500 MTCH CZR DD AMD INTU MDLZ MGM LVS EL PARA CHRW DVN ROK AMCR WBD EXPE ADM

IWM SMCI BCRX CRK DNLI VRNS LTHM CAKE CWH ELF PUMP CLF

WSB AMD BABA NVA CLF

Trade Idea: AMD
AMD is trading higher premarket in spite of earnings miss and lower guidance. A premarket high of 63.9 is an inflection level, above can lead to a squeeze higher. The alternative is a fade below 62 towards 60.