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  • Swing Trade Idea – November 10, 2022

    Nov 10, 2022 Uncategorized Comments Off on Swing Trade Idea – November 10, 2022

    Color Key:

    Red- Negative

    Purple-Neutral

    Blue- Positive

    Market Setup- Pre 830ET Pre: CPI report which is bouncing markets

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

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

    •Yields: Yields are lower

    •US$ +.24%, Euro -.54%, Yen +.27%, and GBP +.46%

    •News: USA: The CPI is +2 with Fed heads at 1230/130  Canada: maclem 1150ET Bitcoin: Binance is not buying the FTX

    Stocks: AZN +4.5% EPS, CELH +7% (earnings were a lot higher than my expectations), DDS +9.9% (earnings were a lot higher than my expectations), positive for M and retail, LCID -7.7%

    •Earnings up: APPS, AZN, CELH, CPNG, RNG, SIX, YETI Earnings Down: BDX, BGS, MT, PAAS, RL, TPR

    • General: Leading: China, bitcoin, and spec tech Lagging:  Brazil, Solar, and euro

    •Indices: The global indices are mixed prior to USA CPI. The US$ higher and yields are lower is a mixed macro set-up ahead of CPI. The SPY is 375.6 with support 375, 370, and resistance at 380, 385, and 390. The QQQ support is at 263, 260 with resistance at 265, 270, 272 and 275. The CPI is a major catalyst with low print, which is my opinion is favoring long equity, metals, bonds and also highly favoring short equity/bonds and long US$. Watch bitcoin today as in my opinion it is highly correlated with QQQ.

    •Stocks to watch  AZN, RNG, DDS, CPNG, XPEV, DDOG, TSLA, NVDA,  AMD Spec Names BMBL and ARRY

    Pre-800ET

    Earnings APPS, AZN, CELH, CPNG, RNG, SIX, YETI, BDX, BGS, MT, PAAS, RL, TPR

    Indices KWEB, IPO, BLOK, ARKK, XLE, QQQ, XLK, faangmt, UUP, IWM, EWZ, TAN, euro, LIT

    S&P500 CTRA, NCLH, TPR, MO

    IWM APPS, CELH, MSTR, YETI, M, NVAX, SI, PLUG, VERU, BGS, IGT, APLS

    WSB RIVN, MSTR, BROS, COIN, AFRM, BABA, BGS, UPST, NVDA

    Movers APPS, CPNG, ZIP, RIVN, CELH, LI, AZN, TCOM, MSTR, YETI, BILI, PDD, SIX, BROS, DDOG, VERU, BMBL, BGS, GFI, VET, BNTX, EQNR, MO, XP, EURN, UPST, BHP, NVDA, VALE

    Trade Idea: TSLA
    TSLA has broken support on $4B by selling Musk. The premarket high is 182.5 on the CPI reaction.  In my opinion, clearly, it is in distribution mode but it can bounce on a short covering. TSLA  is moving in $5 increments. In my opinion, if it is above 185 I will look for a 190 or 195 but a failure at these levels in my opinion can be used for a fade.

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