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Swing Trade Idea – January 27, 2022

Market Setup 

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

•Yields pulling back after a spike post FOMC

•US dollar higher in premarket

•News: USA GDP, durable goods, UE 830ET, pending home sales 10ET;

•Stocks: TSLA  beat but delayed new models due to supply chain; NOW beat; MCD miss;  INTC beat but guidance lower; LRCX reduced guidance (dip buying premarket); TER beat; AMD China has approved the XLNX acquisition; NFLX Ackman tweet that bought

•Indices: USA indices sold down overnight and bounced 2ET and currently at highs. QQQ is leading with FAANGMT leading. Spec stocks are strong so looks like risk-on or short covering. One should be prepared for a sell the rip with a possibility of the short squeeze to continue. Gamma levels: Resistance 4360 4400  Support 4340 4300 4250.  SPX 4300 is a critical pivot level.

•Sectors: Leading: Brazil, Oil explorers, spec tech FAANGMT  Lagging: silver, gold miners, bitcoin

Stocks to watch: NOW TSCO NFLX AAPL  TER LRCX  Spec Names: GTLB LC

Movers

Earnings ALK BLL BX CCI CMCSA CNX DB DHR DOW EXTR EW FLEX HCA INTC IP JBLU LC  LEVI LRCX LUV LVS MA MCD MKC MMC MO MUR NUE NOW ORI

Indices EWZ TLT XOP XLE IGV faangmt QQQ ARKK UUP XBI XLK SPY TAN HYG SLV GDX bitcoin sSLV GDX EEM

S&P500 NOW STX XLNX NFLX TSCO CNC MRNA ROK ETSY WDC BLL PKG NVDA TER LRCX HCA EW INTC RMD AMAT KLAC

Movers GTLB STM NFLX CNC BX TSCO LAZR ROK STLA DKNG BLL ALB CNX PLTR VLO SAP ADS EW JUYA INTC IP MT MCD

WSB GME PLUG NET PLTR NVDA TSLA

Trade Idea AAPL

AAPL reports after the close and may run into the report. Premarket high 162.11 and extended. Would look for a pullback and use 164 as a first target and 166 as a second