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Swing Trade Idea – April 21, 2022

Market Setup pre-800ET

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

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

•Yields: Yields rose overnight with a minor steepening

•News: Europe: CPI 7.4% vs 7.5%, Core CPI 2.9%; ECB VP raised possibility of rate increase  USA: Philly Fed 830ET, UE claims, CB leading index 10ET;

•Stocks: TSLA beat accounting questioned opex +15% Rev +80%, Shanghai lock down not in this report; UAL/AAL soaring post EPS

•Indices: USA indices higher led by QQQ and Russell. Risk-on mood with highly short names strong. SPY is above the expected move for week and at the 200sma. Look for squeeze higher or pullback, yields are a concern as they have not fallen to support tech.  Key support levels: SPY 445 QQQ 342

•Stocks to watch: AA CSX GOOS TSLA   AA CVNA EFX NFLX Spec Names:  ABNB HUT

Pre-800ET

Earnings AA CSX CVNA EFX KMI LBRT LRCX STLD THC TSLA UAL AAL BX DGX DHR DOW DQ FCX KEY NUE PM UNP TSCO UNP T

Indices JETS bitcoin ARKK XLY QQQ SMH IWM XLK ARKG fangmt ICLN SPY SLV GDX GLD TLT KWEB yen

S&P500 AAL UAL TSLA ALK CCL LUV DAL RCL BA DOW CSX HAL EXPE F BKNG ETSY NVDA EFX KEY NFLX TWTR NEM

Movers TSLA HUT ALK ALGT RRC SWN DOW T AMC AMZN  AMD DIS FB TPH EFX SNBR XRX KEY BHP CVNA NFLX

WSB TSLA RIVN NIO PLUG BA F HOOD PLTR NVDA AMC SPOT RBLX AFRM AMD AMZN RTX

Trade Idea: CCL
Travel companies are all well bid in exuberance that travel will be increasing in the latter half of the year. CCL bookings are strong. Premarket high 20.5 can be used for a momentum trade.