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Swing Trade Idea – June 15, 2022

Market Setup pre-PPI

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

•Yields: Yields lower and flatter;

•US$ lower

•News: USA: Retail sales 830ET FOMC 1400ET  China: Industrial prod +.7% vs -1% Retail Sales -6.7% vs -7% Europe: ECB emergency meeting  planned – catalyst for higher Euro and reduction in bond spreads Oil: IEA – demand > supply 2023

•Stocks: TPR FWONK SNOW SPOT upgrade/tgt raise ; MSTR COIN bitcoin under pressure;  Silver/Gold miner AU HL GFI KGC

•Indices: USA indices overnight with yields and USD$ lower.  SPY support 375, 370 Resistance 380, 385. QQQ support  275 resistance 280, 285.  VIX term structure inverted indicating high risk 2% move expected. Markets will react to retail sales report and FOMC report. FOMC will move markets at 1400ET and then post 1430 with the Q&A. Expectations are for 75bps increase and potential with SPY +/-6 today and +/-12 into Friday.  Overall SPY range for week 385-365 expected. Premarket setup is Risk On with shorted and beaten down stocks in play. China stocks still strong as are European stocks and precious metal miners

•Stocks to watch: SLV PAAS BIDU SPOT  MSTR COIN Spec Names: EDU HTZ GFI

Pre-800ET

Indices SLV GDX GLD TLT ARKK QQQ KWEB XLF SPY

S&P500 INCY TPR RCL DISH NCLH NEM HBAN FCX C AAL DAL CSCO VLO PSX MPC

IWM CAR AR PLUG LTHM SGRY SONO SI AMC NVAX

WSB DWAC NIO BABA PLUG CCJ COIN MSTR

Trade Idea: SPOT
SPOT is a beaten down tech company that can bounce on a risk-off day. Catalyst is WFC upgrade with 124 target price. Premarket  high 102 can be used for a momentum trade or pullback to VWAP.  Short term  targets 14 and 112. Expected move +/7 into Friday