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  • Swing Trade Idea – September 20, 2022

    Color Key: Positive Negative Neutral

    Market Setup

    Global MarketsUSA, Europe, Japan, China, Hong Kong Asia Bearish  global set-up

    CommoditiesGold, Silver, Oil and natgas, Grains, Industrial Metals

    Yields: Yields higher

    •US$ +.04% EUR -.06% YEN -.2% GBP +.26%  Swiss 0%

    News: USA: Building permits, housing starts 830ET Europe: Lagarde 13ET, Sweden 1% rate increase Canada CPI. Cannabis CA signed law allowing cross state transfer, NJ opening market USA AG needs to sign-off

    Stocks: F warned $1B cost overrun due to cost overruns, component shortages reduced shipping; UNH court bolstered case for CHNG takeover; Macau casinos WYNN LVS MLCO; LAZR 7.7%  JPM $30 target BA +2% Forecast Middle East to double fleet by 2041;  LPX -5.6% BAC downgrade;  Dorsey deposed today in TSLA TWTR lawsuit

    General: Leading: KWEB XLE Lagging: Bitcoin TLT ARKK GDX, Clean Energy, XLB. XLK

    Indices: Global indices broadly weaker premarket. SPY peaked at 390 but declining since 3ET and at 386 above 385 gamma level with 390  resistance and 380 strong support. QQQ peaked 292.5 and declining since 3ET and now below 290 gamma level and above 285 support. VIX 26 implies 1.6% daily move. Indices are risk-off with yields and US$ higher. Key inflection level for SPY is 385, look for bounce or breakdown towards 380

    Stocks to watch  LVS MLCO BA TWTR F AAPL TSLA PYPL Spec Names: NCLH LAZR CHNG

    Pre-800ET

    Earnings

    Indices EWZ ICLN /6e /BTC GDX XLK QQQ

    S&P500 WYNN LVS NCLH BA HUM F PYPL NKE WDC GM WY MRNA LIN STX

    IWM ADTN LPX FRO FOLD NVAX X MSTR CLF LBRT

    WSB BA F CLF NIO NVDA AFRM

    Trade Idea: CF
    Fertilizer and ags had a big day Monday with potential for continuation. Premarket high 104 can be used for a momentum long or  look for pullback to >=100.  MOS and NTR are other names in the fertilizer space. 

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