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Swing Trade Idea – November 01, 2022

Color Key: Positive – Neutral – Negative

Market Setup- Pre 830ET

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

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

•Yields: Yields lower

•US$ -.6% Euro +.47% Yen +.9% GBP +.65%

•News: USA: ISM Mfg, Jolts 10ET Europe: German import prices -.9%m/m China: Caixin PMI 49.2 vs 48.5

•Stocks: Meme that China may plan to end lockdowns provided a lift to markets. US$ and yields lower lifting markets. Commodities, foreign stocks beneficiaries.  UBER +11% Earnings beat; ABMD JNJ acq

•Earnings up: PFE  CAR Earnings Down: BCRX CTLT

•General: Leading: China internet, spec tech, gold miners Lagging:  US$

•Indices: Global indices are higher in a risk-on / short cover set-up ahead of the FOMC meeting. SPY 390.73 is very extended with a potential for a short squeeze to 395 & 400 or a pullback towards 385 support.  US$ and yields are lower, favoring commodities. The emerging markets and lower quality companies – high short interest. 10 am ISM and Jolts data may move markets so take care.

•Stocks to watch  UBER PFE  BABA SBSW TSLA OXY SYK Spec Names SOFI AFRM

Pre-800ET

Earnings AFL ANET BCRX  BP CAR CTLT

Indices KWEB LIT ARKK GDX EEM ICLN EFA SMH XBI TLT XLE QQQ  UUP

S&P500 HOLX LVS PFE FCX WYNN NCLH PYPL TSLA MRNA NVDA SEDG AMD META CTLT SYK LLY

IWM AR GME PTCT CRK FOLD FRO LADR NVAX

WSB BABA AFRM GME COIN AMD CLF

Trade Idea: TSLA
TSLA is a risk on the name and a proxy for ARKK style sticks. Premarket high 233 can be used for a momentum long or pullback > 228.  Risk at 10ET with macro data releases.