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Swing Trade Idea – February 10, 2022

Market Setup 

•US markets red, Japan green, Europe red, Hong Kong green, China red, Asia green

•Yields higher post CPI

•US dollar higher post CPI

•Stocks: Positive earnings reaction: TWLO DDOG DIS MAT CYBR UBER TWTR Negative earnings reaction: SGEN LUMN CDAY GOOS; TSLA recalls 579k cars; DIS strong growth in streaming (ROKU sympathy) ; TWTR missed but $4B buyback;  PEP div increase $10B buyback; MGM 86% occupancy.

•Indices: USA indices pulled back post CPI but are above support levels. Key support levels: SPY 450 QQQ 360 IWM 200 AAPL 175 TSLA 900 with market positioned for higher levels, they may shake off the CPI as long as support holds

•Sectors: Leading: UUP SLV XLF DBC Lagging ARKK ICLN LIT SOXX IWM MSOS QQQ SMH

•Stocks to watch: BAC JPM DIS DDOG TWLO  GOOS Spec Names: MQ CYBR

Movers – Pre CPI

Earnings AZN BAM BTU CDAY CHX CS DDOG DIS GFL GOOS GPN IFF INMD K KIM KO LIN LUMN MAT MFC MGM MT PAA PEP PCG PM

Indices IPO ARKK TLT DBC XLB SLV DIA XLE LIT ICLN IBB XLK XLF XLY QQQ GLD SOXX

S&P500 DIS TWTR ORLY MU TWTR TPR LH LIN MGM FCX STX LUMN CDAY WDC IBM GPN MRNA NCLH ETR PEAK

Movers TWLO MQ MAT DIS UBER MTL ORLY WEX ASX AZN TPR PBF AMBA TSM TWOU VMEO SGEN APRN CDAY CS

WSB AFRM NET PLTR BABA NIO GME F AMC

Trade Idea IWM

IWM is pulling back with CPI report. Currently 203 and falling rapidly.  Can look for a short with target 200. Would let the market open and look for a bounce and short on a break of the open. Always the possibility that they will buy the dip.