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Swing Trade Idea – April 12, 2022

Market Setup pre-800ET

•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: Yields higher 2-10 steeper. Expect movement post CPI report

•News: USA: CPI 830ET Brainard 1210ET Bond Auction 1301 ET; China: Easing lockdown helping oil; Europe: German ZEW -43 vs -46.5 Ukraine: Ongoing OPEC: Cannot replace Russia oil

•Stocks: CRWD GS upgrade; SBUX downgrade; ACI fcst miss; KMX EPS miss;  Potential for reversal into tech from safety sectors if CPI lower, bonds rising will be the signal

•Indices: USA indices pulled back overnight and are bouncing since 1ET. Indices are muted ahead of CPI report.  Key support levels: SPX 4400 QQQ 340, breaks below can lead to large downdrafts. Short squeeze higher is possible if CPI is less than expected.  SPY Support 440 435 Resistance 450 (gamma) 452 445 442.

•Sectors: Leading Commodities energy Cannabis China Bitcoin Lagging bonds biotech

•Stocks to watch: CAH CRWD DVN HL SCHW CCJ NVDA KMX CSCO SBUX  Spec Names: RIOT  

Pre-800ET

Earnings ACI KMX

Indices DBC XLE XOP MSOS KWEB /btc SMH ICLN euro XLB TLT IBB

S&P500 CAH DVN COP OXY JNPR SCHW  VLO  FCX KMX HPE CSCO NTAP FFIV PCAR FISV LIN WM SBUX PNC SWKS

Movers CRWD USO NIO KBR ALV HL UNG SCHW DPZ KMX ENSG CHGG CSCO DAN AMC QSR DNUT FISV WM SBUX

WSB NIO CCJ RIVN RBLX AMC TSLA AMD F GME

Trade Idea: CRWD
CRWD is a security name upgraded by GS with target of $285. Premarket high 226. Can look for a pullback on the open for a long. Short term target 228, 232. Earnings April 26