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Swing Trade Idea – December 30, 2021

Market Setup

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

•Yield curve slightly flatter

•US dollar  slightly higher

•News: USA: UE claims 830ET Chicago PMI 945ET Natgas storage 1030ET; Spanish CPI 6.7% Y-Y; Putin/Biden speaking today. Putin says Nordstream 2 is ready to pump natgas

Stocks: MU warned Xi’an lockdown could affect production; JNJ vaccine 84% effective against Omicron in SA; TSLA recalls 475k USA vehicles

•Indices: USA indices are mildly positive in premarket trading in a tight range. SPX 4800 is strong resistance with some support at 4780 and 4750 and stronger support at 4700. Range trade expected. Nasdaq100 leading index. Indices have been rising overnight so one should take some care at the open

•Sectors: Leading: Bitcoin, China Internet, Brazil ,TLT, Silver Lagging: Lithium, Euro, smallcaps

Stocks to watch: 

FB RIO TSCO MDB MU TSLA Spec Names: HIMX MARA BIRD  FCEL BLDP

Movers

Earnings

Indices BLOK /btc ICLN QQQ TLT SPY EWZ SLV euro LIT

S&P500 PFE PHM MSCI UA FB NVDA NEE MU WDC EIX BEN BXP USB TSLA

Movers WISH PFFE TLRY SNY INTC LMT BIIB FCEL ICL TSLA GME

WSB HUT RIOT SOFI AMZN TSLA PLUG GME

Trade Idea RIO

Iron ore companies are bid in premarket with VALE and RIO jumping premarket. RIO premarket high 67.34 which can be used for a momentum breakout. No obvious news so handle with care.