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Swing Trade Idea – January 09, 2023

Color Key: Positive – Neutral – Negative

Market Setup – Pre8:30ET Pre-ADP

•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 higher

•Currencies:  US$ -.35%, Euro +0.41%,Yen -.16%, GBP +.34%

News:  USA: FED Bostic, Daly 12:30  Europe: German Industrial Prod 0.2% m/m; UE rate 6.5%

•Stocks: TSLA 4.3% Delivery time increase J;  LULU -9.5% Earnings Warning; M -4.2% earnings warning GS+.26% Layoff story ; BROS +5% Estimate+; TLRY EPS miss

General: Leading: Bitcoin, Spec tech, energy, China Internet, Semis Lagging:  Brazil, TLT, US$, Retail

Indices: The Global indices are positive following the USA short squeeze on Friday. The Macro setup displays mixed data with yields that are higher. The US$ is lower and energy is higher. The SPY 390 has resistance and a major gamma level of 395 and support of 388, 385, and 380. Vix futures 22.2 implies a 1.5% daily move.  The QQQ 270 has a resistance and gamma level of 275 with a support of 265 and 260. The indices are extended with resistance and have a potential for the short squeeze to continue. The premarket’s most shorted stocks are elevated, but statistically, the odds favor a pullback. The FED speakers will speak at 12:30 PM ET and may try to talk down markets, however, there are no major events until Powell speaks on Tuesday.  LULU and M display warnings and are weighing on retail broadly. Lastly, the Goldman Sachs medical conference is today and will likely lead to large intraday moves.

Stocks to watch TSLA, APA, BABA, WYNN, EXAS, NVDA, NKE, TLT,   Spec Names HKD, BROS, MSTR

Pre-800ET

Earnings TLRY

Indices /btc, ARKK, XOP, XLE, KWEB, SOXX, EEM, GDX, XBI, QQQ, IWM, EWZ, TLT, UUP, XRT

S&P500 TSLA, APA, MRO, HAL, OXY, NVDA, MA, FCX, AMD, WYNN, V, RTX, LYV, LNC, VFC, PRU, PFE, NKE

IWM CWH, HLIT, MSTR, AR, FRO, OI, OVV, AA, RRC, PLUG, CRK, M, STAA, T

WSB BROS, BABA, COIN, MSTR, TSLA, NIO, PLUG, NVDA, CLF, UPST, AMD, RIVN, CCJ

Movers DCT, EXAS, ARHS, HKD, BROS, COIN, FUTU, BABA, Z, CWH, MSTR, ANF, TSM, UBER, PDD, LULUm LYV, JWN, M, UAA

My Trade Idea: TSLA
In my analysis, TSLA is in play today and in my opinion, will likely be short covering. Above 115 there could be potential for 120 and 125.  Below 115, 110, and 105 are in play in my trade idea today.