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Swing Trade Idea – January 13, 2022

Market Setup – Pre CPI report

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

•Yield curve slightly steeper – Long yields are a must watch today with PPI data release

•US dollar lower – usually positive for commodities however they are generally weak

•News: USA:UE jobless claims &  PPI 830ET, Brainard 10ET, Evans & 30yr bond auction 13ET China: Covid shutdowns remain issue with disruptions in several port cities, VW and TM closing plants in Tianjin

•Stocks: DAL domestic revenue 78% of Q42019 forecast 83% for current quarter; KBH EPS beat Rev miss; TSM beat increasing capital expense by 30% (AMAT LRCX KLAC ASML);

•Indices: USA indices are muted ahead of PPI print. SPX is tightly consolidating with potential for a move to 475 on a breakout with 470 a key support level which must hold. Look for the reaction to PPI print and bond auction to determine the next move. Premarket commodity set-up suggests a lower PPI. Sectors: Leading: Semiconductors, Airlines, Homebuilders, Industrials  Lagging: China internet, Brazil, Energy, Materials

•Stocks to watch:  TSM AMAT ITB BLDR DAL SNAP DNLI Spec Names: MTCH ENPH JKS  SPCE

•Movers

•Earnings DAL KBH TSM

•Indices SMH ICLN JETS SOXX ITB XLF ARKK SLV GBTC XHB XLI DIA KWEB EWZ EEM LIT XOP GDX XLB IBB

•S&P500 MTCH ENPH BA LEN KLAC DAL AMAT UAL AAL DHI LRCX FAL PHM SEDG VIAC LUMN SCHW QRVO MRNA ABBV

•Movers KBH CHGG STM TSM MIME JKS MTCH ENPH MQ BA  BEKE ESTC LUMN SNAP PDD NVAX ARCC QFIN YNDX

•WSB BA CCJ AMD ASO SOFI NVDA BABA DWAC

Trade Idea TSLA

TSLA has moved above short term volume by price resistance.  Above 1114  targets become 1160 and 1200. Earnings are in 9 days and a run into earnings is possible. Rotation from value to growth with benefit TSLA.