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Swing Trade Idea – February 18, 2022

•Market Setup

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

•Yields: Yields  lower and flatter

•US dollar higher

•News: Ukraine: Russia-USA will talk next week; Iran: Potential to remove sanctions which may increase oil supply; CAD: Retail sales 830ET; USA: FOMC Waller, Brainard;

•Stocks: CE buying biz from DD; ROKU -25% sales miss and lower guidance; DKNG guides for larger loss; RDFN -27% PPC -14% SHAK -14% LTHM +10% BLMN +7.8% DD +5.8%

•Indices: USA indices bounced on Ukraine news and currently consolidating in premarket. Vix futures are inverted signaling risk  and vix futures 27.7 are rising in the premarket so risk remains high. SPY must move above 440 and 445 as  first steps to recovery. Premarket high and low are levels that can be used as references in what could become a trend day higher if Vix falls or a trend day lower if vix continues to rise. A break below 435 can lead to 430 and lower.

•Sectors: Leading: semis, small caps,  large cap tech  Lagging energy, gold miners, ARKK

•Stocks to watch: NTR CSCO  SBLK ROKU PPC Spec Names: GFI LTHM CGNX DKNG RDFN

Pre-830ET

Earnings DBX LTHM BLMN DE DKNG

Indices SMH IWM QQQ XLK faangmt XLY XLF SPY JETS /btc XLE GDX ARKK XOP

S&P500 DD CE ALB AMD AAL FCX NCLH F NFLX DE GPS GOOGL PPL HAL PSX OXY SLB APA SO

Movers SWAV CGNX DD MASI PLTR CE AMC SPCE TSLA NVS NVDA RDFN ROKU SHAK PPL INTC

WSB RIVN PLTR AMC SOFI AMD HOOD BABA

Trade Idea PG
PG is a boring risk-off name. Bounced to the 50sma which is a level it needs to break for confidence for a move higher. Call activity is high with open interest building at the 170 strike. 165 would be a swing target.  If market rotates to risk-on, PG will not perform well so keep stops tight