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Swing Trade Idea – August 17, 2021

Market View

World markets are red with USA red, Europe red, Japan red, Hong Kong red, China A red, and Asia red. Yield curve is flatter, US dollar & Yen and Swiss Franc all higher point to a risk-off world market.  News: USA retail sales came in below expectations; China has new rules to prevent BABA, JD, TCEHY from establishing self contained ecosystems and using customer data. Earnings: HD missed estimates & LOW fell in sympathy, WMT beat but large drop in e-commerce is weighing on the stock.  S&P500 gamma is high which should result in a tight range of 0.56% today. 4500 and 4450 are major levels which can serve as support and resistance. With index pinned, look for rotation.

Stocks to Watch

Earnings AMMO BHP FN GLBE HD RBLX SE WMT

Indices /BTC TLT GLD KWEB EEM JETS IWM ARKK XLF XLE IPO XLI DIA XLB DBC XHB SPY HACK QQQ FANG

S&P500 KR LIN INCY NEM HD CCL LOW DXC NCLH ALB FCX PSX TSLA MGM FTI

Movers RERE MNDY GLBE SE APP HOOD PSFE SMFR MVST BHP HUYA HD LOW CRCT LSPD ABNB

WSB DLPN OCGN HOOD RIOT IVR RBLX NIO CLF TSLA PLUG PLTR F GEO

Stock Idea; GLD

Gold is one of the few assets along with bitcoin that is higher today. Short term there is a volume by price gap above 168 which can take price to 169.38