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Swing Trade Idea – September 9, 2022

Market Setup- Pre830

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields lower

•US$ -.72% EUR +.59% YEN +1.15% GBP +.6%

•News: Europe: EU Energy ministers meeting USA: George, Waller Fedheads speaking  China: CPI 2.5% Y-Y vs 2.8% PPI 2.3% vs 3.2% Currency: US$ pulling back from extreme levels lifting assets

•Stocks: ZS +13.8%, DOCU +16%, RH +.5% ZUMZ -14% EPS report

•General: Leading: bitcoin, gold miners, TLT, Energy Lagging: Low beta

•Indices: Global assets higher as US$ pulled back. SPY 403 is above 400 major support and below 405 resistance.  QQQ  303.8 is above 300 major support with 305 resistance. VIX 23 implies 1.4% daily move. Market is squeezing higher premarket with high short interest names and names correlated with US$ like metals leading. Indices are above the expected move for the week so potential to squeeze higher but will be dependent on the path of the US$ and yields.

•Stocks to watch:  SHOP SQ COIN TSLA PDD FCX   ENPH Spec Names: NIO AMC

Pre-800ET

Earnings DOCU KR ZS

Indices /btc KWEB GDX ARKK XOP SOXX EEM LIT BLOK

S&P500 FCX KR SLB CTRA NEM MRO AMD HAL MMM CCL PXD COP KMX ENPH

IWM MSTR SI ISEE AA BTU CLF FRO ARCH AR RUN

WSB COIN HOOD NIO CLF AFRM NET BABA AMD NVDA PLUG CCJ

Trade Idea: IWM
IWM is a straddle idea on a short squeeze day as many of its holdings are shorted. Premarket high 185.7 can be used for a momentum long with target 187.5 or look for a pullback >= 184.5. Move below 184.5 can be an indication that the squeeze is over and can consider fading the move.