.

Swing Trade Idea – September 20, 2022

Color Key: Positive – Negative – Neutral

Market Setup

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

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

•Yields: Yields higher

•US$ +.04% EUR -.06% YEN -.2% GBP +.26%  Swiss 0%

•News: USA: Building permits, housing starts 830ET Europe: Lagarde 13ET, Sweden 1% rate increase Canada CPI. Cannabis CA signed law allowing cross state transfer, NJ opening market USA AG needs to sign-off

•Stocks: F warned $1B cost overrun due to cost overruns, component shortages reduced shipping; UNH court bolstered case for CHNG takeover; Macau casinos WYNN LVS MLCO; LAZR 7.7%  JPM $30 target BA +2% Forecast Middle East to double fleet by 2041;  LPX -5.6% BAC downgrade;  Dorsey deposed today in TSLA TWTR lawsuit

•General: Leading: KWEB XLE Lagging: Bitcoin TLT ARKK GDX, Clean Energy, XLB. XLK

•Indices: Global indices broadly weaker premarket. SPY peaked at 390 but declining since 3ET and at 386 above 385 gamma level with 390  resistance and 380 strong support. QQQ peaked 292.5 and declining since 3ET and now below 290 gamma level and above 285 support. VIX 26 implies 1.6% daily move. Indices are risk-off with yields and US$ higher. Key inflection level for SPY is 385, look for bounce or breakdown towards 380

•Stocks to watch  LVS MLCO BA TWTR F AAPL TSLA PYPL Spec Names: NCLH LAZR CHNG

Pre-800ET

Earnings

Indices EWZ ICLN /6e /BTC GDX XLK QQQ

S&P500 WYNN LVS NCLH BA HUM F PYPL NKE WDC GM WY MRNA LIN STX

IWM ADTN LPX FRO FOLD NVAX X MSTR CLF LBRT

WSB BA F CLF NIO NVDA AFRM

Trade Idea: CF
Fertilizer and ags had a big day Monday with potential for continuation. Premarket high 104 can be used for a momentum long or  look for pullback to >=100.  MOS and NTR are other names in the fertilizer space.