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  • Swing Trade Idea – December 07, 2022

    Dec 07, 2022 Uncategorized Comments Off on Swing Trade Idea – December 07, 2022

    Color Key: Positive – Neutral – Negative

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

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

    •Yields: Yields are higher

    •Currencies:  US$ -.46%, Euro +.68%, Yen -.16%, and GBP +.44%

    News:  Europe: GDP .3% q/q China: Trade data is worse since March 2020 Canada: In my opinion, it is expected to raise 50bps Cannabis: The Safe banking act will not be added to the Defense bill. There is potential for a separate bill or reconciliation before the year end.

    •Stocks: In my analysis, AAPL -1.4% and iPhone production/demand displays concerns, the self driving car has been delayed to 2026 with a positive earnings response; TSLA -2.88% demand/production displays concerns.  Semiconductor weakness NVDA -1.6%, and AMD -1.39% Earnings: MDB +28% and CPB +3%

    •General: Leading: Euro, Gold  Lagging:  China, Brazil, Semis, Spec Tech

    •Indices: The USA indices are drawing down overnight with China trade data being weak. The Large cap tech weakness continues and weighs on QQQ the most. The SPY $392.6 with a support of $390 and a resistance of $395 and $400. In my opinion, the break of $390 can lead to a larger downdraft. The QQQ $281.7 is currently above the $280 gamma level with a $282.59 resistance. The large cap tech stocks in my analysis are the key to the indices led by AAPL and TSLA, which are under distribution with negative news catalysts.

    •Stocks to watch:  MDB, CPB, SEDG, AAPL, TSLA, BABA, NVDA Spec Names  GTBIF, TCNNF

    Pre-800ET

    Earnings  ASO, CPB, DWRE, MDB, OLLI, PLAY, S, TOL

    Indices Euro, XBI, GLD, KWEB /BTC, SOXX, ARKK, SMH, faangmt, EEM, QQQ, XLK, ICLN, EWZ

    S&P500 CPB, SEDG, SBNY, TSLA, NRG, WYNN, EXPE, NVDA, AMD, AAPL, LVS, ETSY, FCX, QRVO

    IWM SNDX, PLAY, MSTR, NVAX, FRO, CLF, X

    WSB NIO, BABA, TSLA, NVDA, COIN, UPST, AFRM, AMD, CLF, RIVN

    Movers RXDX, MDB, CPB, SEDG, DDOG, VOD, OLLI, SNDX, GDS, BEKE, JD, XPEV, HTHT, VIPS, BZ, BILI, MNSO, NIO, BABA
    My Trade Idea:TSLA
    In my opinion, TSLA is in play with a weak demand on MEME. Premarket trading displays $175 which in my analysis is a key level. There is a potential fade below the premarket low of $173.9 with a target of $170. Furthermore, I think there is a potential long >  $177 with a $180 target.

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