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Swing Trade Idea – March 31, 2022

Market Setup pre-830ET pre-PCE

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – mixed  global set-up

•Commodities:  Precious metals, oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

•Yields: Yield curve flatter – long yields lower usually negative for financials and positive for tech

•News: USA: Core PCE 830ET, UE claims, Chicago PMI, Williams speak; Europe: Neg data France Italy; Energy: Report USA might release 180M barrels from SPR (2d global demand); Covid: China mfg contracted, Shanghai lockdown extension report; Ukraine: no progress

•Stocks: WBA beat; PATH TPX earnings; Commodities lower on China and USA SPR release; Airlines higher on lower oil (AAL); EV and alt energy higher (NIO QS  SEDG); Spec tech strength and may gamma squeeze (SNDL RIVN HOOD); DDOG MSFT deal; AMD DELL downgrade; Semis higher (MCHP NVDA QCOM);

•Indices: USA indices muted into quarter end with tech leading and financials soft. SPY Support 455 452.5 450  Resistance 460 462.

•Sectors: Leading airlines lithium&EV, TLT  Lagging energy commodities China gold financials

•Stocks to watch: CCJ AAL NVDA  AMD MU SQM MRO Spec Names: BROS BRCC NIO SNDL PATH

Pre-830ET

Earnings PATH WBA

Indices JETS LIT btc ICLN UUP TLT QQQ XLE XOP DBC KWEB EEM EFA euro GLD XLF

S&P500 CDW AAL UAL DAL SEDG NVDA CCL PYPL BA TWTR HPQ MRO DVN OXY AMD MU CAH BMY MOS WBA

Movers VIPS NVAX CCJ SNOW BA NVDA LBRT ANC GME SQM AMD MU PVH

WSB SNDL OCGN MVIS ARVL GOEV WKHS SKLZ RIVN DWAC NIO HOOD AMC GME AMD BABA 

Trade Idea: AAL
Airlines are moving higher on lower oil.  Premarket high 18.4 can be used for a momentum breakout or look for a pullback to 18 that holds. 19.4 and 21 are targets. Stock is extended so need to keep stops close