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Swing Trade Idea – February 15, 2022

Market Setup

Pre730 Russian news. Major flip of market set-up

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

•Yields: Yields higher and curve steeper

•US dollar lower

•News: Russia says that some troops will return to base but are recognizing break away republics in eastern Ukraine (negative for gold and oil). USA PPI 830ET Annual 9.1% expected and 0.5-0.3% m-m [actual 1%]. China: loosened monetary policy, lifted pollution restrictions on steel output and warned against steel speculation (negative for steel and iron ore companies).

•Stocks: INTC buying TSEM;  Positive earnings move: ANET MAR QSR YNDX  Negative earnings move: CLR FIS

•Indices: USA indices bounced at 3ET on Russia news. SPY has bounced to 445 which is a major gamma level. Bounce led by FAANGMT and negative earning tech stocks.  SPY upside target: 450 downside targets: 442.5, 440, 435.

•Sectors: Leading: bitcoin, spec tech, airlines, semis, large cap tech Lagging gold miners, energy, long bonds

•Stocks to watch: TSEM ANET YNDX AMD XOP Spec Names:

Pre-730ET setup

Earnings AAP ANET ARCH BWA CAR CMP CLR ECL FIS LDOS LGIH MAR QSR YNDX ZTS

Indices /btc ARKK JETS ICLN SMH SOXX LIT QQQ XLY XLK faangmt GDX SLV XOP XLE DBC TLT UUP

S&P500 ANET CCL AAL NVDA AMD TSLA RCL ENPH AMAT SEDG DAL MAR MU FIS NEM MRO LDOS DVN CVX OXY GPS

Movers TSEM YNDX ANET AMKR ARCH TOST SHOP BX MAR BA HUN ZTS INTC FIS MRO WEBR USO LDOS CVX XOM

WSB SPCE HUT RIOT ANY ARVL RIVN CLOV MVIS PLTR RBLX CORN

Trade Idea ANET
Arista networks EPS and sales beat and raised forecast. Analyst targets 139-175. Premarket high 137.95 and low 131. One can look for bullish trade with pullback that holds 130. Open interest at 135 and 140 can act as resistance or support.