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Swing Trade Idea – May 17, 2022

Market Setup pre-800ET

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

•Yields: Yields higher and steeper

•News: USA: Retail sales 830ET; Industrial prod 915ET; Europe: GDP .3% vs .2% China: Vice Premier met with tech executives on devel of digital economy FED: Bullard 8ET, Powell 14ET;

•Stocks: HD beat transactions -8% revenue +11% GM-; WMT EPS miss –guidance margin squeeze; Buffet 13F Add C, HP, ATVI, CE, RH, FWONK, FND, MCK, PARA Sell VZ, KR; JD beat; TTWO EPS miss Rev beat;

•Macro: Retail sales TBD will be market moving

•Indices: Global equity backdrop bullish ahead of retail sales. SPY above 405 gamma level with 400 support QQQ between 300 and 305 gamma levels. Market flows are supportive today for a squeeze higher if SPY > 405 and QQQ > 305 if reaction to retail sales is positive. VIX futures lower and no longer inverted is supportive for markets. SPY 1.6% move based on volatility.  High short interest names are bid premarket which can support a squeeze but caution that retail sales premarket, Powell 14ET and general sell the rip are risks.

•Stocks to watch: JD BABA HD C UAL AMD  WMT TGT Spec Names: ONON

Pre-800ET

Earnings TTWO HD JD ONON SE VOD WB GLBE

Indices KWEB ARKK /btc LIT ICLN XME JETS EEM XBI ARKF EEM SMH XLK yen TLT

S&P500 PARA C UAL WYNN AMD FCX CCL AMAT HD PYPL LVS TSLA QCOM WMT TGT TWTR DLTR COST VZ

WSB BABA COIN NIO AMD PLUG NET AMC NVDA CCJ RBLX SPOT HOOD

Trade Idea: MNST
MNST is a leader in the beverage space poised to breakout over the 90 level. Safety name that may not move with risk-on premarket sentiment but can outperform if high beta falters. High open interest at 90 strike.