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Swing Trade Idea – March 21, 2022

Market Setup pre-830ET

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

•Commodities:  Precious metals, oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

•Yields: steeper, yields higher positive for financials

•News: Europe: Lagarde 330 ET; USA Powell 12ET economic outlook; Ukraine: No progress

•Stocks: BA China crash; Energy, gold and fertilizer bouncing. PDD earnings miss; PLAN acquired by PE;  GES share buyback plan; Y BRK buy

•Indices: USA indices have held on to last week’s gains and are extended at resistance. Post Opex week has less flow support as 30% of gamma expired so buying is needed for indices to continue higher. SPY 200sma and QQQ 50sma are the key levels to watch. SPY support 442.5 440   Resistance 445 450 expected move +/-.9%  Vix futures are no longer inverted which is bullish. Bond market signaling caution.

•Sectors: Leading: Commodities, energy, gold miners, Lagging China internet, airlines, bitcoin

•Stocks to watch TSLA NVDA OXY APA HAL   JD BA UAL Spec Names:  SE

Pre-830ET

Earnings PDD

Indices XLE GDX SLV HACK SLX GLD UUP SOXX KWEB JETS /btc XLI BLOK TLT XLP

S&P500 OXY MRO APA DVN HAL CTRA EOG SLB NKE CL CF TSLA VZ UAL GE DAL AAL ALK GM LVS PYPL

Movers PLAN OXY GES KOS HAL SLB BB APD TSLA GOLD BKR TTE  BA BABA RYAAY JOAN GME SE AMC FBHS

WSB TSLA NVDA F PLTR CCJ AMD BA BABA GME NIO

Trade Idea: TSLATSLA had a strong move last week and usually is bought on Mondays. Short term extended but can look for a breakout above 930 with 1000 as a target. Alternative  thesis is a bear trade below 895