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Swing Trade Idea – February 8, 2022

Market Setup 

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

Yield curve steeper

US dollar higher – commodities lower

News: USA added 33 Chinese companies to unverified list; France to detail nuclear energy roadmap;

Stocks: PFE EPS beat rev forecast missed; HOG beat rev +40%;  PTON CEO stepped down and 2800 staff cuts and rereported earnings; CHGG beat and raise; FISV beat; VLDR transaction with AMZN; NVDA will not buy ARM holdings; SYY

Indices: USA indices are close to flat but below overnight highs. Yields higher is helping financials and hurting tech. DJIA/IWM is leading and QQQ is lagging.  WeaknessSPX resistance 4600, 4500 support 4400

Sectors: Leading: financials US dollar airlines DJIA smallcaps Lagging lithium bitcoin Brazil energy semiconductor

Stocks to watch: CHGG HOG BAC  PFE FB AMD NVDA Spec Names: TDC(guidance) BIGC PTON

Earnings AMGN CHGG NUAN SPG TTWO VRNS ARMK BP CARR CNC CNHI CVE DD FISV HOG INCY KKR MAS PFE SPGI SYY WMG

Indices XLF UUP JETS DIA IWM SLX LIT XOP ICLN GDX SLV XLV IBB SMH QQQ

S&P500 CARR CNC BK BAC C WFC HBAN AFL GM FISV PFE SPG MRNA ZBH FB NVDA TTWO WTW APA F OXY

Movers VLDR CHGG SKLZ COTY CARR CNC NVCR SLQT EDIT PTON NVAX CRNC GMPFE FB ZBH SQ NVDA TTWO DWAC

WSB AMC NVDA F RBLX RIVN AMD NIO TSLA

Trade Idea Teck

Teck resources is a miner who reports Feb24. High call activity with high open interest at the 35 strike. Premarket high 34.59. Extended so handle with care