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  • Swing Trade Idea – December 27, 2022

    Dec 27, 2022 Uncategorized Comments Off on Swing Trade Idea – December 27, 2022

    Color Key: Positive – Neutral – Negative

    Market Setup – Pre830ET

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

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

    •Yields: Yields are higher

    •Currencies:  US$ -.17%, Euro +.23%, Yen -0.24%, GBP +.03%

    •News:  USA: Trade Balance 830ET; Housing Price Index 9ET  Japan: Retail Sales 2.6% Y-Y vs 3.8% China: Relaxing travel restrictions

    Markets Closed: UK, Canada, Australia, Hong Kong

    •Stocks: TSLA  -5.5% Shutdown Shanghai factory early; NIO -6% reduced production forecast; LUV -3.6% flight cancellations; BA +.5% Army contract;

    •General: Leading: China Internet, Gold miners, Emerging markets, Materials, Energy Lagging:  Brazil, Spec tech, Bonds

    •Indices: The USA futures gapped up Monday night but are declining in the premarket. Yields higher, and US$ lower provide a mixed macro setup. Energy strength and TSLA weakness favours DJIA over Nasdaq stocks. China loosening travel restrictions is providing a bid to commodities in general. The SPY 384.4 displays a resistance of 385 and 390 with a support of 384, 380, 375, and 370. Vix futures 23.5 implies a 1.5% daily move. Large JPM SPX position at 3835 may lead to stickiness until the Dec30 roll.   If indices stay range bound, look for rotation to continue into financials, energy, and defence at the expense of tech. TSLA weakness significant weight on Nasdaq and look for outperformance in other large caps to compensate, potentially MSFT, AMZN, or META. Holiday retail sales numbers may move WMT and AMZN.

    •Stocks to watch:  FCX, WYNN, HAL, BAC, BABA, TSLA, NIO, AAPL,  Spec Names MLCO, BILI

    Pre-800ET

    Earnings

    Indices KWEB, GDX, EEM, XLB, IWM, GLD, XLE, ICLN, DIA, XLV, EWZ, ARKK, TLT, UUP

    S&P500 FCX, WYNN, NEM, LVS, RCL, EOG, HAL, TSLA, LUV, CME

    IWM CPRX, AA, CLF, X, CHK, CROX, RUN, OVV, FRO

    WSB BABA, CLF, NIO, TSLA, RIVN, COIN

    Movers JKS, DQ, TTM, TCOM, MLCO, HKD, FCX, BILI, BEKE, AA, WYNN, LVS, GFI, PAAS, NIO, TSLA, LUV, LI, CME, XPEV, RIVN

    My Trade Idea: FDX
    My trade analysis and idea is that FDX is a potential long idea with target raises by GS, JPM, Barclay, and CS  with a range of 179-240.  Premarket high 177 can be used as a momentum trigger. 1M target 180 and 185

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