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Swing Trade Idea – May 2, 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 curve steeper

•News: USA: ISM MFG PMI 10ET; China: MFG Purchase MGR PMI 47.4 Pressuring commodities, Beijing testing ramping;

•Stocks: Buffet Names: ATVI CVX ATI  NIO delivered 4381 cars April; TSLA China factory at 80%; MCO cut guidance;

•Indices: USA indices pulling back since 7ET. Liquidity will be light with many global exchanges closed which can lead to sharp moves. SPY is between 410 and 415 gamma levels with 410 a key support level; QQQ between 310 and 315 levels with 310 a key support level. Look for acceleration or bounces at the gamma levels. VIX futures are inverted and with VIX > 30 risk is high.  Vix level corresponds to a > 2% daily move.

•Stocks to watch: TWTR TSLA PDD CLF AMZN AAPL Spec Names:  HUBG LNTH

Pre-800ET

Earnings CTXS EPD GPN INMD ON

Indices /btc XLF IBB GBTC DIA JETS GDX GLD XOP XLE TLT DBC euro yen HYG ARKK SLV faangm DBC

S&P500 ATVI BBWI EPAM CMA MHK JCI LIN BAC RF MCO PFE PXD TSLA FCX AMZN OXY NEM NUE SPGI

Movers EDU EPAM SJW CMA BNTX MHK BRK/B NIO TAL PFE SLCA XPEV TSLA AMZN XOM WY GME

WSB RTX AMC NET NIO BABA AMZN CLF CCJ TSLA GME

Trade Idea: LNTH
LNTH develops and mfgs diagnostic products. Large earnings beat on Friday and a potential continuation trade. Premarket high 67.5 can be used for a momentum level and low 63.93 can be used as a pullback reference.