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Swing Trade Idea – March 11, 2022

Market Setup

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia

•Commodities:  Precious metals, oil and natgas, Grains, industrial metals

•Yields: unchanged

•News: Russia-Ukraine: Summit possible says Kremlin; USA-Iran talks paused lifts oil; SEC advised that some China stocks will be delisted – negative for China stocks however big bounce today

•Stocks: Earnings DOCU ORCL RIVN miss; Ulta beat; Short squeeze on Russia news with airlines, tech, semis, China stocks all moving higher and gold miners, metals pulling back. Note that since the squeeze is based on sketchy news, potential for reversal. Large dips in leaders may be buying opps.

Indices: USA indices popped 2% overnight with a 6ET pop on Russia news. SPY 430 gamma level is a major level which will serve as a pivot. Support 425 4200 Resistance 435 and 440. Vix futures term structure inverted so risk remains high

Sectors: Leading: airlines spec tech, china internet faangmt Lagging gold miners, aggs

•Stocks to watch AMZN JD QCOM NVDA AAPL  DOCU Spec Names:  U SQSP RIVN

Pre-830ET

Earnings DOCU RIVN BLNK AG LZ WPM ORCL FUTU

Indices JETS ARKK KWEB SOXX XLK XLF SMH LIT QQQ XLY faangm GDX SLV XME AGG

S&P500 EPAM AMAT DAL UAL CCL AAL ALK NVDA PYPL AMD MOS CVX ORCL DVN CF ORCL HAL OXY

Movers FUTU JD BEKE NOK U RBLX CHWY BMBL EXPE TSLA AMZN DOCU RLX ZUMZ

WSB HUT NOK NIO SKLZ RBLX NVDA RIOT RIVN CLF CCJ OCGEN

Trade Idea QCOM
Semis are bouncing along with all tech in what may be a short term squeeze. QCOM is premarket  has tested an hourly breakout. Can consider long if QCOM > 158.2 or look for dip > 155.4. QQQ and SMH should be used to confirm bounce. 160, 165 targets