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Swing Trade Idea – April 18, 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: Yield curve steepened c.f. Thursday. 10yr yield broken out of long term down trend

•News: USA: Bullard 1600ET; China: GDP 4.8% Y-Y, Retail Sales y-y -3.5% vs -3% March data weak;  Industrial Production 5% vs 4%

•Stocks: BAC beat consumer lending strong; Earnings BK SYF BAC; Pre-earnings: IBM JNJ NFLX TSLA; TWTR: Board poison pill to stop Elon; Semiconductors are weak premarket possibly due to Mizuho downgrade – many are at breakdown risk

•Indices: USA indices pulled back Sunday night and rising in pre-market. Many world markets closed will lead to lower liquidity and larger moves. Key support levels: SPY 435 QQQ 335 Indices are negative gamma which will lead to larger moves if SPY > 440 QQQ > 340

•Sectors: Leading Gold Silver miners, energy, US$ Lagging bitcoin, China, tech

•Stocks to watch: BAC TWTR GPS NEM MRO TSLA  AAPL AMD BABA COIN Spec Names:  IPI

Pre-800ET

Earnings BAC BK SCHW SYF

Indices GDX SLV GLD XOP XLE UUP /btc KWEB yen EEM QQQ IWM euro

S&P500 TWTR GPS BAC BIIB SYF PSX BK NEM TSLA MRO DVN APTV PGR QCOM UAL AMD CSX AAL AAPL DHR

Movers TWTR DBRG PBF GPS BAC TSLA SYF BK MPC PSX VLO TGTX NKTR DIDI SIRI WEN

WSB TSLA CLF BABA AMC NIO RIVN AMD RBLX

Trade Idea: TSLA
TSLA in play with earnings Tues. Usual action is Mon buying but not present today.  Long idea over 995 with target 1020 1030. Short below 983 with target 960 and lower.