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Swing Trade Idea – April 11, 2022

Market Setup pre-800ET

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

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

•Yields: Yields higher 2-10 steeper

•News: China: Lockdowns increasing, major impact on mfg and shipping.  Oil lower on reduced demand from China Europe: Positive bid on Macro leading LePen Ukraine: Ongoing

•Stocks: NIO halted production due to part shortages. TSLA and other EV mfg weak. BILI NTES TCEHY China issuing new mobile gaming licenses; SHOP  1:10 split; SAIL PE buyout; TWTR Elon not taking a board seat;  Large cap tech is weighing on markets with financials providing some support

•Indices: USA indices weak with rates rising and large cap tech under pressure with TSLA and NVDA leading to the downside. SPY Support 445 440 Resistance 450 (gamma) 452 455. SPY key gamma level 445, below look for 440

•Sectors: Leading Precious metals, financials, euro Lagging bitcoin, energy, spec tech

•Stocks to watch: SHOP GLD CYBR JPM SBSW BILI NIO TSLA AAPL NVDA Spec Names: DWAC

Pre-800ET

Indices SLV GDX GLD FEZ euro /btc LIT XLE ARKK XOP XLY XBI QQQ SOXX SMH KWEB faangmt DBC TLT

S&P500 RF NEM KEY C MET RTX CVS ADM EPAM KR TSLA NVDA OXY TWTR DVN MU AMD PYPL AMAT MRO MSFT

Movers SAIL TTE ESNT RF KEY GS PFE ACCD TSLA USO NVDA PLTR AMC AMD GME KMI AAPL UBER ERIC

WSB DWAC BODY CCJ MVIS ROOT IVR SDC CORN RTX  NIO TSLA RIOT CLOV NVDA PLUG RIVN SKLZ HUT

Trade Idea: SARK
SARK is an inverse ETF to short the ARKK stocks which are weak in the premarket. TSLA is a major holding. Higher rates and risk-off is negative for spec tech stocks.  Market is over sold so likely to bounce on open. Look for ARKK to bounce to 60 and then fail for a long