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Swing Trade Idea – September 27, 2023

Date: Sept 27, 2023

Laurie’s Abbreviation Index:

** ‘div’ – dividend

** ‘m/m’ – month over month

** ‘y/y’ – year over year

** ‘Inven’ – inventories

** ‘mfg’ – manufacturing

** +/- – plus or minus, positive or negative

** Underlined text – higher volume premarket

** ‘d’ – day

Color Key: Positive – Neutral – Negative

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

• Commodities:  Gold, Silver, Oil, natgas, Softs, Industrial Metals
• Yields: Yields lower  Currencies:  USA +.19%
• News:  USA: Durable goods 830ET; Europe: German Consumer confidence weaker than expected
  Stocks:  DKNG WING upgrade;  COST Did not increase membership fees but beat estimates
• Overview: USA SPY 427.2  support 425 and resistance 430. I expect the SPY to move +/- 3.5  QQQ 355.2  with resistance of 360 and 365  and support of 353 and 350. QQQ expected move +/- 3.5.  Equity set-up is neutral with global equities higher and yields lower but US$ is higher.  Indices remain put-dominated in negative gamma increasing the risk of large moves in either direction. SPX < 4300 is a major risk level. Tuesday the S&P broke the daily which I expected leading to a trend day, down.  Today, daily expected move levels: SPY (422.4- 429.4) QQQ (350.7- 357.7). USA stocks are risk-on configured premarket but look for selling of pops
• Stocks to watch:  NET OXY AAPL NVA TLT MAT  COST      
• Spec Names:  IMVT RIVN

Pre-8:00ET
Earnings COST

Indices MSOS USO XOP XLE ARKK TLT XBI IWM SOXX EEM XLK   VXX GLD GDX EWZ

S&P500 RMD OXY MRO DVN XOM HAS IP MU NVDA   ZION COST TSCO NEM M   

IWM IMVT MORF NE FSLY

WSB NET MSTR COIN CLF UBER RIVN

Movers HAYW JKS EDU IMVT NET LI MAT COIN LEVI DB OXY SE MRO RIVN IONQ SQ  UBS AU CIVI ZION COST GFI

Trade Idea: TSLA

TSLA premarket 245.5. Potential long > 246 towards 247.5 and 250 and fade below 242.5 towards 240. Expected move +/-11