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Swing Trade Idea – January 28, 2022

Market Setup 

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

•Yields higher usually negative for tech

•US dollar substantially higher is negative for equities and signals risk-off

•News: USA PCE .5% vs .5% USA Price Index 5.8% Y-Y US Consumption -.6% vs -0.6%  Consumer Sentiment 10ET

•Stocks: AAPL beat, no guidance; V beat volume +21%; HOOD miss; CVX EPS miss; TEAM beat and raise;

•Indices: USA indices declined into 830 and currently bouncing on PCE news. Index gamma levels are negative and VIX term structure is inverted making risk high. SPY in a trading range 426.6-442 and break of the range will be significant. Gamma levels: Resistance 4360 4400  Support 4340 4300 4250.  SPX 4300 is a critical pivot level.

•Sectors: Leading: Brazil, Oil explorers, spec tech FAANGMT  Lagging: silver, gold miners, bitcoin

Stocks to watch: AAPL V TER MDLZ  Spec Names: TEAM PODD HOOD

Movers

Earnings AAPL CAT CHD CHTR CL CVX CP EMN HOOD JNPR KLAC LYB MDLZ OLN PSX SYF SYK TEAM V VFC WDC WY X

MO MUR NUE NOW ORI

Indices BTC ARKK IWM XLE XLB XLI XLF XOP JETS XLY IBB XLP

S&P500 V AAPL NUE TPR NUE WDC TER CVX KR F MDLZ AMD LIN CAT VFC LYB FCX MS KMI OKE NLSN MRNA VNO MU

Movers HOOD WDC BAK PODD BAH TEAM TER XPEV BYND CVX PENN SE KLAC ABB LCID BUD MDLZ SBSW ALV KR V

WSB AFRM HOOD NIO F AMD RIVN SOFI PLUG PLTR NVDA

Trade Idea ZIM

Marine shippers have been outperforming the market so potential long idea but with market weakness longs are tough. ZIM strong premarket. Other names SBLK DAC