.

Swing Trade Idea – December 28, 2022

Positive – Neutral – Negative

Market Setup – Pre830ET

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

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

•Yields: Yields are lower

•Currencies:  US$ -.15%, Euro +.07%, Yen -0.01%, GBP +.5%

News:  USA: Pending home sales m/m; Richmond Mfg  10:00 AM ET Japan: BOJ Opinion → No plan to stop YCC

Stocks: TSLA  +2.9% Baird best idea 2023; BA +.3% JPM 200 target;  GNRC +3.3% Analyst 160 target;

General: Leading: TLT, Biotech, Small caps, spec tech Lagging:  Gold miners, commodities

Indices: Global equity futures are supportive with USA indices rising in the USA premarket trading. Yields are lower and the US$ is lower which in my opinion provides a positive macro setup. The SPY 382.5 has a resistance of 385 and 390 with a support of 380, 375, and 370. Vix futures 23.3 implies a 1.5% daily move.  JPM SPX displays a large position at 3835 which can potentially lead to some stickiness until Dec. 30th roll. There is a potential short squeeze set-up in the premarket with an outperformance displayed by small caps, spec tech, and of course TSLA.

Stocks to watch  TSLA, RIO, BP, GNRC, GOLD, NVDA Spec Names AAL, NIO

Pre-800ET

Earnings

Indices TLT, XBI, IWM, EWZ, ARKK, /BTC, DIA, AGG, XLV, GDX, GLD, DBC, HACK, EEM

S&P500 TSLA, RCL, LUV

IWM CXW, FRO, GRO

WSB TSLA, RIVN, GEO

Movers LI, TSLA, PUK, RELX, VOD, RIVN, TTE, FLNG, CXW, KT, EURN, LUV, EDU, FRO, BEKE, GOLD, EPD

My Trade Idea: ENPH
ENPH is down 18% from recent highs, following a selloff in some alternate energy names. Block trade premarket for $412k at $274.98 can be used as a reference, with a long above or short below. The premarket low of $272.8 can be used for a close with $280 and $295 as my long targets. Today, in my analysis my swing short targets are $260 and $240. I expect a potential move this week +/-13.