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Swing Trade Idea – July 28, 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 and steeper

•US$ +.4% Eur +.72% GBP -.4% CAD +.12%

•News: USA:  GDP 830ET; UE claims

•Stocks: META -4.7% miss ; QCOM -5%  lower guidance; LRCX -1% beat; F+7% beat; NOW -6% miss; SAVE merging with JBLU 2024 to get regulatory approval; MA beat; CMCSA -5% sub loss; BBY -3% warned; HOG +6% beat

•General: Leading: Renewable Energy, Materials, commodities, Electric Utilities Lagging:  Cloud software, spec tech

•Indices: USA indices small pullback after post FOMC impulse. SPY at  400 gamma level (resistance) with support 398, 395.  QQQ below 305 gamma level (resistance) with 302, 300 support.  Market is mixed pre-GDP. US$ higher is a risk-off signal; however higher yields and strong commodities is aligned with growth.  Energy related names, especially alternate energy are in play on the announcement of USA stimulus bill

•Stocks to watch  NOVA SPWR RUN PLUG BE NEE PWR GNRC META  AAPL NOW Spec Names : PLUG  CEG BLDP CHPT

Pre-800ET

Earnings AEM ALGN CTSH EQT ETSY F FLEX LC LRCX BAX BUD CMCSA CVE HOG HON INMD LIN LUV

Indices TAN ICLN GDX /btc XME XLE XOP  XLU GLD ARKK ARKF euro XBI QQQ SOXX XLK

S&P500 ETSY CEG F SEDG TMO ENPH NEE AES VLO PWR NEM GNRC BBY QCOM CMCSA CRM LOW LIN AAL TER TJX

IWM NOVA PLUG RUN SPWR BE PBF SAVE LC CWEN OSTK ARCH SKT VIVO LPSN SIGA NVAX

WSB PLUG F CCJ TSLA NET COIN BA AMC NIO AMZN AFRM NVDA

Trade Idea: TAN
Solars are in play with US govt stimulus bill for renewables.  TAN holds a basket of companies like RUN ENPH SEDG. Another ETF to consider is ICLN. Premarket high 82 can be used for a momentum trade or look for pullback >80.