.

Swing Trade Idea – January 04, 2023

Positive – Neutral – Negative

Market Setup – Pre8:30 AM ET

•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$ -.37%, Euro +0.34%, Yen -0.12%, GBP +.46%

•News:  USA: ISM mfg PMI, JOLTS 10:00 AM ET; FOMC Meeting Minutes 2:00 PM ET Europe: Services PMI 49.8 vs 49.1; German Import Prices m/m -4.5%

•Stocks: MSFT -2.5% UBS target 250 CRM +3.5% 10% headcount cut; VEEV +3.3% Upgrade target 205 GE healthcare unit GEHC trading today TGT -1.3% Downgrade target $142  BK upgrade MS downgrade ETSY upgrade ENVX -37% no news HON downgrade PFE downgrade

•General: Leading: China Internet, TLT, Gold Miners, Semis Lagging:  Energy

•Indices: The global indices are positive. The Macro is positive with yields lower, US$ is lower and energy is lower. SPY 382.4  displays resistance of 383, 385, and 390 and support of 381.5, 380, and 375. Vix futures 23 implies a 1.4% daily move. QQQ 266.5 displays support of 265 and resistance of 267 and 270. The market is positioned with a risk-on caveat indicating that data at 10:00 AM ET and 2:00 PM ET will potentially be market moving. The market may be rotating from 2022 winners to losers with weakness in energy and industrials, with strength in semis and tech. The European stocks are strong on improving macro and can potentially lower inflation due to the warmer weather.

•Stocks to watch: BABA, MU, CRM, NEM, META, NVDA, META, AAPL, TSLA, MSFT, HON, HAL Spec Names: FROG

Pre-800ET

Earnings

Indices KWEB, GDX, TLT, EEM, EFA, /btc, SMH, ARKK, SOXX, GLD, XLY, XOP, XLE, faangmt

S&P500 MU, ETSY, CRM, GLW, NEM, PYPL, AMAT, INTC, NVDA, MRK, AMD, MRNA, QCOM, META, GE, MSFT, HAL, CHRW, DVN, HON, MRO, OXY, JBHT, TGT, PFE, NSC

IWM BTU, PLUG, GME, FRO, TWO, MTDR, TGTX

WSB BABA, COIN, UPST, PLUG, NVDA, AMD

Movers BABA, JD, BIDU, BEKE, FUTU, DB, FROG, ABB, ASML, MU, AU, GFI, STM, ETSY, SNOW, U, UPST, ENVX, GE, FLNG, TS, FRO, TWO, EURN, MSFT, HON, HAL, OXY, JBHT

My Trade Idea: META
META may be a potential breakout candidate. The premarket high of $127 is extended but can be a momentum trigger or I will look for a pullback > $123. Options market pricing +/- 4.5 into the end of the week with open interest building at $130 and $135 which I believe can be my targets.