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Swing Trade Idea – July 27, 2022

Market Setup

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

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

•Yields: Yields lower and flatter

•US$ -.16% Eur +.2% GBP +.3% CAD +.25%

•News: USA:  Durable goods 830ET, Pending home sales 10ET, FOMC 14ET Europe: German Consumer climate -30.6 vs -29

•Stocks: TEVA +27% beat settled legal ; GOOGL MSFT miss; ENPH +9.6% beat – solar sector moving; CMG +8% sales miss; SHOP -6% miss; TXN +4% beat; SPOT +7% beat; SHW -12% miss big guidance cut; TENB -10% guidance cut; PYPL +6%  activist involved

•General: Leading: Solar faangmt ARKK Bitcoin Lagging:  TLT utilities

•Indices: USA indices bounced post MSFT GOOGL earnings and pulling back premarket. SPY below 395 gamma level (resistance) with support 390.  QQQ below 300 gamma level (resistance) with 293, 295 support.  Market is positioned risk on with high short interest stocks bid. Look for pullback in advance of FOMC meeting.

•Stocks to watch:  ENPH MSFT GOOGL SPOT PYPL TXN BA TSLA  SHW BMY Spec Names: ARKK SHOP

Pre-800ET

Earnings AXTA CNI ENPH GOOG JNPR BA BG BMY BSX CCJ EDU HES HLT

Indices TAN faangmt ICLN /btc ARKK JETS XLK SMH QQQ ARKF SOXX

S&P500 ENPH PYPL HLT BSX SEDG GOOGL BA MSFT TMUS META LUV NCLH TXN NVDA SHW GRMN JNPR BMY CHTR TER

IWM MSTR LBRT RUN SPWR GME SI GLNG EXPI AMC PLUG BE EAT EDIT MTDR LTHM

WSB COIN GME AFRM PLUG NVDA TSLA NET AMC AMD RIVN AMZN F BABA CLF

Trade Idea: PYPL
PYPL is in play on news of Elliot mgmt taking a position that follows Ackman in talks. Premarket high 83.25 can be used for a momentum long or look for a pullback.  Call open interest building at 85 and 90 can be used as targets. Earnings  Aug2