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Swing Trade Idea – August 25, 2022

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields flat

•US$ -.24% EUR +.1% JPY +.44% GBP +.36%

•News: USA: GDP 830ET, UE claims, Jackson Hole Begins; Student $10k loan forgiveness and extension of repayment Europe: German GDP 0.1% vs 0%  Britain: CBI sales 37 vs -8

•Stocks: Positive Earnings: SNOW, ADSK, NTAP, NIO, WSM, TD Negative Earning: CRM, NVDA, SPLK, VSCO, BURL, DG, DLTR, PTON

TSLA trading post split

•General: Leading:China Internet, ARK Gold miners, Clean Energy, EEM Lagging: Home Builders, bitcoin

•Indices: USA Markets rose overnight but currently pulling back in premarket. Some indication of buying in high beta risky assets. USA GDP and UE claims may move markets. US$ lower positive for equities; however yields have not moved lower.  Indices are negative gamma leading to larger moves. SPY above 415 gamma level which may act as support with support 413, 410 and resistance  417, 420. QQQ above 315 gamma level with  315, 310 305 support and 318, 320, 322 resistance. VIX 22.8 implies 1.5% daily move. Indices oversold but negative gamma so both breakdown or squeeze up possible. SPY > 415 or < 410 are key levels

•Stocks to watch: SNOW NIO CF FCX TSLA NEM JD NVDA CRM DLTR  Spec Names FIGS

Pre-800ET

Earnings SNOW ADSK NTAP NIO SPLK CRM NVDA BURL DG DLTR

Indices KWEB ARKK GDX ICLN ARKF EEM EWZ XBI XLB  FDN IPO ITB /btc

S&P500 ADSK NTAP FCX CF CCL NCLH RCL MOS F PYPL META ENPH AMZN NEM DLTR CRM NVDA DG LEN

IWM FRO PLUG SAVE BE APPS RUN LRN BCRX SPWR AI AA VERU

WSB FIGS BABA AFRM NET NIO PLUG UPST RIVN F CLF AMZN NVDA

Trade Idea: DLTR
DLTR trading lower post earnings. Premarket high 153.6, premarket low 146.5 current price 152.6. One can look to trade on failed bounces with target 145 and lower or trade a bounce if price > 153.6