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Swing Trade Idea – December 2, 2021

Market Setup

•Global markets are mixed with USA mixed, Europe red, Japan red, Hong Kong green, China green, Asia mixed

•Yield curve flatter with longer duration rates rising

•US dollar lower compared to Euro

•News: Covid: Omicron in USA but no evidence it is worse than Delta USA: UE claims premarket, multiple Fed heads speaking 11ET; OPEC meeting to discuss production increases which will add to oil volatility

Stocks: BA China approved 737max [Sympathy SPR] ; AAPL report that told suppliers that iphone13 demand slowed [Affects SWKS QRVO CRUS AVGO]; SNOW earnings beat; VIR and GSK preclinical data for Omicron;

•Indices: USA indices have modestly bounced overnight with R2K and DJIA leading. AAPL weakness is the big risk today and currently money is rotating into other names to compensate. Volatility implies a 2% SPY move. SPY premarket low 450.7 is the lower caution level.

•Sectors: Leading: travel Brazil Oil financials China internet materials Lagging: technology semiconductors nat gas bitcoin QQQ

•Stocks to watch: 

BA SPR SNOW FIVE AAPL MRNA VEEV  Spec Names: VIR

Movers

Earnings SNOW AI CRWD SPLK KR TD FIVE SNPS SMTC   DG ESTC

Indices JETS EWZ XLE KWEB EEM XLE KWEB XLF XLI IWM XLB /btc XLK SMH fang QQQ

S&P500 BA CCL UAL DAL MRO LUV OCY WYNN SPG O AAPL DG SWKS EXPD MRNA QRVO QCOM ETSY COST AVGO PFE

Movers VIR SNOW RDS RYAAY AMC JKS GME BABA USO HMC BKE FB AAPL MRNA

WSB BA CLF AMC SOFI GME SPCE NIO TTCF HOOD RBLX

Trade Idea FIVE

Five is trading higher on earnings and analyst upgrades 230-274. Potential for an earnings runner above premarket high 209.76. Weak market today so take care