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Swing Trade Idea – December 28, 2021

Market Setup

•Global markets are green with USA green, Europe green, Japan green, Hong Kong green, China green, Asia green

•Yield curve slightly steeper

•US dollar  slightly weaker

•News: Japan: Industrial production+, CPI+; Crypto-  no news,  AU+ Oil+ no news;

•Stocks: TSLA Wedbush upped target to 1400, Argus raise to 1313J; Needham target raise CIEN FFIV EXTR

•Indices: USA indices levitated overnight with large cap tech leading and TSLA FB NVDA leading. All are short term overbought by usual metrics and have moved higher on low volume but potential for higher levels cannot be discounted. SPX 4800 is a major gamma level and likely resistance. Potential for large moves down on retracement as volume support is low until 4700. Volume very light so sharp moves possible and retail names in play

•Sectors: Leading: Semis Silver Energy Lithium Tech Lagging: bitcoin long bonds

•Stocks to watch: 

TSLA AMD FB NVDA OVV APA MRNA LCID Spec Names: UPST RBLX ARVL RIOT

Movers

Earnings none

Indices SOXX XOP LIT SLV XLE QQQ XLK GDX  SPY /btc BLOK ARKG TLT

S&P500 ALB APA TSLA OXY NVDA EOG OXY ATVI AMAT DOW LLY AMD FB MRNA CCL MRK PFE

Movers ARVL BBIO TSLA TME AMD PBR TSM A NVAX MRNA HOOD ZM MRK ING

WSB ARVL TSLA NVDA ASTS NVDA  SENS NOK CCJ RBLX AFRM AMD RIOT HUT SNDL HOOD SOFI BB

Trade Idea APA

Energy stocks reversed Monday and moved strongly higher. The fracking names like APA are strong in the premarket. After a big move Monday would look for pullback for entry. XOP holds a basket of such names.