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Swing Trade Idea – March 02, 2022

Market Setup

• Global Markets:  USA, Europe, Japan, China, Hong Kong Asia

•Commodities:  Precious metals, oil and natgas, Grains, industrial metals

•Yields: higher and steeper

•News: Russia-Ukraine continues; USA:  ADP 475k vs 388k , Bullard 930ET Powell 10ET; OPEC meeting; FED rate increase expectations falling

•Stocks: JWN +31% beat and good forecast; SOFI +15% beat; FSLR miss and poor guide; ROST beat; DLTR rev miss; ANF EPS miss; CRM beat; F creating EV division $5B EV spend 2022;   

•Indices: USA indices bounced at 2ET and pulling back since 7ET. SPY Support: 425, 420 Resistance: 435 450. SPY key level. Energy and commodities continue to lead. Retail names may bounce on JWN ROST earnings

•Sectors: Leading: energy commodities mining Brazil Airlines  Lagging Gold miners, Bitcoin, TLT, Solar

•Stocks to watch: JWN SAIL CRM OXY FSLR V Spec Names: SOFI AA SBSW CELH

Pre-830ET

Earnings ANF AMC BROS CELH CRM DLTR FSLR HPE JWN LAC MARA PLUG ROST

Indices XOP XLE XRT EWZ DBC ARKK SMH SLX SOXX IBB XLF IWM SLV GDX ICLN GLD TLT

S&P500 CTRA ROST HPE CRM OXY F EPAM APA SLB FANG LMT MA V NEM

Movers SOFI PSFE HPE CRM ZS NOV HAL XOM LI AMD SNAP GME  BHG WISH

WSB SOFI F PLUG PLTR AMD NET GME CLF NVDA

Trade Idea SBSW
SBSW is a play on gold and Palladium. Gold pulling back today but Palladium strong. High call activity. Momentum breakout level 20.1 or look for pullback to 19.8