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Swing Trade Idea – December 09, 2022

Color Key: Positive – Neutral – Negative

Market Setup – Pre830ET

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

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

•Yields: Yields are Lower

•Currencies:  US$ -.13%, Euro -.04%, Yen +.73%, GBP +.33%

News: USA: The PPI claims at 830ET and Consumer Confidence at 10ET. China: CPI 1.6% y/y PPI -1.3% y/y

•Stocks: LULU -6% has a Lower forecast with a high inventory BA Dreamliner deal with UA coming AVGO +3% guidance raise NFLX upgrade DOCU +11% EPS beat TSM production beat positive for semi sector QCOM NVDA; COST small EPS miss

•General: Leading: Gold miners, spec tech, semis, China  Lagging:  TLT

•Indices: The global indices rising overnight ahead of PPI data. The SPY 398 with resistance at 400. Large gamma level and support at 395 and 390 gamma levels. PPI data release will move markets at 830 as will Consumer Confidence at 10ET. In my analysis, premarket setup is a risk with tech stocks leading and semiconductors in particular. 

Stocks to watch: NFLX, AVGO, BA, AAPL, TSLA, BILI, SBSW, LULU Spec Names DOCU

Pre-800ET

Earnings  AVGO, CHWY, COST, DOCU, LULU, MANU, LI

Indices GDX, ARKK, SMH, KWEB, SOXX, QQQ, GLD, XLK, EEM, EFA, TLT

S&P500 AVGO, NFLX, TSLA, NEM META, BA, QCOM, DVN, RS

IWM PENN, GTLS, CLF, RH, AI, DAR, SHO, GME

WSB TSLA, CLF, BA, PLUG, NIO, UPST

Movers DOCU, FORG, BILI, SBSW, AVGO, BIDU, GFI, NFLX, PHG, GDS BEKE, TSLA, RELX, FREY, SHOP, SNOW, ROKU, LULU, LESL, INFY, STLA, EURN

My Trade Idea: BA
In my analysis, BA is a long idea with the Dreamliner deal with UA to be announced on Tues. The BA popped Thurs with a high call buying and a potential for a run today. The market is currently pulling back post the PPI print so in my opinion some care is suggested.  Premarket 180. Targets 195 and 190 for a swing. In my opinion, the Premarket low 178.50 is a level to lean against.