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Swing Trade Idea – July 14, 2022

Market Setup

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

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

•Yields: Yields higher post CPI

•US$ +.7% Euro -.57% Yen -1.15% Cad -1.33%

•News: USA: PPI 830ET UE claims Waller 11ET Japan : Ind Prod m/m -7.5% vs -7.2%

•Stocks: TSM +1.4% beat –  consumer slowdown JPM -3%  MS -.47% miss  CAG -.67% sales miss lower growth fct ERIC -9% lower margins GOLD -2% maintains full year production

•General: Leading: /btc Lagging: GDX XLF XLE XOP XLB EFA IWM XHB XME ICLN DIA XLV SPY

•Indices: USA indices in pullback since midnight. SPY below 375 gamma level and approaching 372.89 which was previous bounce level. Major support at 370. 375 and 380 can serve as resistance on bounces. QQQ above 280 gamma level which served as support Wed. 285 and 290 are resistance levels. VIX futures 28.05 but curve not inverted, look for 1.7% intraday move. A move > 30 can lead to accelerated selling.  Indices are configured for a trend day lower; however, PPI data at 830ET will move markets.  Look for potential rebounds or accelerated selling at gamma levels

•Stocks to watch:  JPM ARKK TSM AMD AAPL TSLA  Spec Names: VERU

Pre-800ET

Earnings CAG FRC JPM MS

Indices /BTC LIT GDX XLF XOP XLE XLB EFA IWM ARKK ICLN DIA SPY GLD XLV XLY IBB XLU XLK XBI EWZ QQQ TLT

S&P500 FRC FCX JPM C DG LIN HAL BAC FISV CSCO WFC APA BKR MRO PXD SLB CZR XOM GS DVN COP PNC VLO

IWM VERU SIGA PBF GPRE X MGY SM CLF NVAX ATI BTU AMC PLUG GME PTEN GT KBH

WSB AMD CLF AFRM F AMC PLUG GME TSLA RIVN COIN

Trade Idea: AAPL
AAPL is a proxy for the QQQ and SPY. Straddle approach. Long above 144.5 with target 146 and 147, short below 143.7 with target 142 and 140