.

  • Swing Trade Idea – September 15, 2022

    Sep 15, 2022 Uncategorized Comments Off on Swing Trade Idea – September 15, 2022

    Market Setup

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

    •Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

    •Yields: Yields higher

    •US$ -.01% EUR +.09% YEN -.26% GBP -.3%  Swiss +.63%

    •News: USA: Retail Sales, Empire State Mfg, Philly Fed, UE claims 830ET  Europe: French CPI .5% vs 0.4% m/m Japan: Trade balance -2.3T

    Rail strike averted, maybe; Ethereum merge; US regulator investigating Buy Now Pay later AFRM

    •Stocks: ADBE -7.8% -guidance and Figma acq – can impact cloud stocks; HUM +4.85% guidance raise; NFLX upgrade; AFRM -7%; SQ -2.4%; NEE -4% selling $2B equity units; DHR splitting off Environmental Business as separate listed entity

    •General: Leading: Bitcoin Healthcare Financials Lagging: Lithium Energy Utilities Long Bonds

    •Indices: USA indices slightly down ahead of major macro data 8:30. Set-up is neutral-bearish with weakness in global equity and higher yields. SPY 393.5 with 395 resistance and 390 support.  QQQ  294.8 with resistance 295 and 300 and 290 support. VIX 26.1 implies 1.6% daily move. SPY 390 is a key support level with a break below significant. SPY/QQQ below the expected move for week hence potential for squeeze higher into Friday as long as SPY 390 holds. Dow30 outperforming premarket suggests large cap value may outperform with caveat that macro data at 830 may change the complexion.

    •Stocks to watch:  CSX HUM DB TSLA AAPL  ADBE EQT SQ AFRM GFI Spec Names: HKD BEKE COIN JWN

    Pre-800ET

    Earnings

    Indices /btc XLV XLF LIT ICLN GDX XLE XLU TLT TAN XOP ARKK

    S&P500 CSX HUM DHR WYNN UNP NSC NFLX APA FTNT HLT NEE ADBE CTRA TROW PYPL DVN

    IWM RUN SDGR AKRO FNKO BTU RYTM ARNC RRC CRK CVI CHK AR FRO

    WSB RIVN COIN HOOD AMD NVDA CLF AFRM NIO GME 

    Trade Idea: SPY
    SPY currently 394 premarket. Straddle approach today with long > 396 with target 398 and 400. A pullback to 390 is a potential long with target 395. A decisive break below 390 is a potential short for a move towards 385 and 380.

0 comment
Top