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Swing Trade Idea – April 7, 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: Yield curve steeper with long yields rising pre-market. FOMC balance sheet run-off $95B per month.

•News: USA: Bullard 9ET, Yellen 1030ET Europe: ECB minutes; Retail sales +.3% vs .6% Ukraine: Ongoing

•Stocks: HPQ Buffet bought;  LEVI earnings; CDK acquired by Brookfield; COST reported sales 17% Y-Y aided by gas and inflation. Analyst likes DG DLTR and Dollarama; Intermodal Rail traffic slowing

•Indices: USA indices retested Wed lows overnight, bounced to Wed highs 5ET and now pulling back as yields rise. SPY Support 445 440 Resistance 447.5 (gamma) 447(200sma) 450 452. QQQ support 351 349 (50sma) resistance 355. SPY 445 is key level to hold

•Sectors: Leading Energy Commodities Lagging spec tech, semis, tech, China, Bonds

•Stocks to watch: OXY MOS HPQ TSLA COST CCL NFLX Spec Names: COUP AMC

Pre-800ET

Earnings CAG LEVI LW

Indices XLE GDX XOP GLD JETS SLV TLT KWEB EEM XHB XLF XLI

S&P500 HPQ TSLA MTD HPQ L HPE CCL APA NVDA LIN NCLH COST TWTR MOS MU CAG AVB GIS VZ F DRI CPB K

Movers AJRD LEVI AN TSLA COUP RBLX BP NVDA TWTR TDOC AMD CCCS SOFI W AVB LD LAZ DAN F

WSB AMC TSLA RIVN RBLX CCJ PLUG NVDA NIO F

High Short Interest  KNDI AMC SDC SENS SPWR CLVS WISH AAL

Trade Idea: MOS
MOS is an unusual option activity name. Spiked high at open Wed on call buying before pulling back. High open interest at 70 which can be  a level for a short term momentum trade.