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  • Swing Trade Idea – August 10, 2023

    Aug 10, 2023 Uncategorized Comments Off on Swing Trade Idea – August 10, 2023

    Color Key: Positive – Neutral – Negative

    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

    Market Setup- Pre-7:30 ET 

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

    • Commodities:  Gold, Silver, Oil, natgas, Softs, Industrial Metals 
    • Yields: Yields lower Currencies:  USA -.3% 
    • News: USA: CPI, UE claims 8:30 ET; 30y bond auction 13:00 ET China: Lifts ban on group tours to USA, Japan
    • Stocks: Earnings: DIS +1% BABA +3% APP+26% ALRM +12% YETI +7.7% Tapestry buying Capri; 
    • Overview: USA SPY 448.4 displays a support of 448, 445, and 440 with resistance of 450, 452, 455, and 460. SPY is expected to move +/- 3 and QQQ 370.7 displays resistance of 375 and 380 with support of 371.5, 370, and 365. QQQ is expected to move +/- 3.5.  USA indices are moving higher premarket and overnight ahead of the CPI print anticipating an inline print. Indices are negative, gamma has potential to be susceptible to a strong print with volatility elevated, potential for a squeeze higher or lower. Bull bear line SPY 450, QQQ 375 and SPX 4550 is the flip level to positive gamma. Market reaction to inline CPI is spec equities higher, US$ lower and commodities higher and converse if CPI is higher. Take care at 13:00 ET with the 30y bond auction which will potentially move yields.


    • Stocks to watch: BABA, DIS, PDD, MSFT, AMZN       Spec Names LI, APP, ALRM, PLUG

    Pre-8:00 ET
    Earnings NVO, BABA, AQN, DIS, DDS, YETI, DNUT, SIX, DIS, STKL, APP, ALRM, WYNN, RL, RBLX 

    Indices KWEB, IPO, EFA, ARKK, FAANGMT, GDX, QQQ, EEM, XLK, VXX, UUP, USO

    S&P500 DIS, CCL, TPR

    IWM HLIT, MARA, MGNI, SMCI, ENVX 

    WSB BABA, UPST, PLUG

    Movers CPRI, APP, HLIT, LI, SONY, BABA, BEKE, PDD, TCOM, FUTU, JD, AU, XPEV, BILI, KVUE, DIS, TSM, DKNG, STLA, FRO, SQ, PLUG, MGNI, TPR, RIO, SMCI, PENN, ENVX, UPST

    Trade Idea: SPY
    SPY expected move today is +/-3. SPY is up trending since the Wednesday close but pulling back post CPI report. In my opinion SPY 445 is a major support level and 451/452 resistance.  I will be looking for a breakout above or below these levels.  Watch the FAANGMT stocks for direction indication.

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