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Swing Trade Idea – December 14, 2022

Color Key: Positive – Neutral – Negative

Market Setup – Pre830ET

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

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

•Yields: Yields are higher

•Currencies:  US$ -.38%, Euro +.02%, Yen +.24%, GBP -.11%

News:  USA: FOMC 14ET UK: CPI y/y 10.7% vs 10.9% Japan: Industrial Production m/m -3.2% vs -2.6% Europe: Ind. Prod. -2% m/m vs -1.4%

•Stocks: DAL +4.4% guidance +AAL LUV sympathy 

•General: Leading: airlines, clean energy, spec_tech Lagging: Brazil, US$, gold, KWEB

•Indices: The USA indices are consolidating ahead of FOMC. Yields are higher, and the US$ is lower, presenting a mixed macro set-up. The SPY 401 is above a major 400 support with a resistance of 405, 410 with a support of 395 and 390. In my opinion, there is an expected move into close today is +/-5.6.

Stocks to watch:  DAL, PHM, SEDG, CLF, MT  Spec Names PINS, DDOG, PLUG

Pre-800ET

Earnings

Indices JETS, ICLN, XLE, ARKK, XBI, IWM, EWZ, UUP, GLD, KWEB, GDX

S&P500 DAL, AAL, SEDG, PCAR, MRNA, LUV, PHM, CHTR, BBY, DLR, CZR, MAR, CMCSA

IWM PLUG, BE, PENN, X, CLF, RRC

WSB PLUG, COIN, CLF

Movers DAL, RNG, PLUG, DDOG, GFI, LI, AAL, SEDG, PCAR, EDU, STLA, UAL, VOD, NTES, BE, COIN, PDO, PDI, MT, BBY, PENN, DLR, ARCC, X, RIO, BHP, CZR, EURN

My Trade Idea: PINS
The PINS is a speculative stock with Piper upgrade and Elliot board members as catalysts. The Premarket is $26.31 with a high call open interest at $27.5 and $30. In my analysis, there are block trades Tues @ $26.42. I will consider a long > $26.79 or a pullback > $25.50. In my opinion, the high beta stock will potentially correlate with Nasdaq.