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Swing Trade Idea – November 16, 2021

Market Setup 

•Global markets are mixed with USA green, Japan green, Europe green, Hong Kong green, China green and Asia mixed.

•Yield curve flatter

•US dollar higher but commodities rising on inflation concerns

•News: USA: Retail sales premarket; XI-Biden talked

•Stocks WMT beat and raised; HD beat; MARA EC probe; RIOT earnings miss; RIVN options start trading which can lead to gamma squeeze; NTES higher post earnings + China loosening gaming restrictions; AXON beat, raise, upgrade

•Indices: USA indices are flat ahead of retail sales. SPX Call wall 4700 resistance with support at 4675 and 4650.  Opex this week so the potential for higher volatility late in the week and greater movement in the following week.

•Sectors: Leading: nat gas, China Internet, Energy, silver, long bonds Lagging: bitcoin, momo tech small caps

•Stocks to watch:

AXON RXT PRCH LCID RIVN SE MARA TSLA Spec Names: ONON  BODY NEGG DM

Movers

Earnings AXON LCID PRCH QFIN RIOT RKLB RXT ARMK CAN HD JMIA NTES SE VOD WMT ONON

Indices UNG KWEB XLE EEM TAN SLV GDX TLT JETS SKYY /btc BLOK ARKK IWM yen SMH

S&P500 NUE LVS WMT HD OXY WYNN PYPL APA NCLH AAP NVDA ANET ED LUV MRNA PSX

Movers ONON RIVN LCID SE NTES UNG NBEV ALGT BODY NEGG RIOT DOYU CLOV MARA CAR

WSB CLNE NIO ARVL CLF CCJ WOOF BA RBLC NOK BODY ANY RIOT CLOV HUT SOFI ASTS SENS

Idea RIVN:

RIVN options start trading today so potential for a gamma squeeze once calls are available.  EV stocks remain hot; however day to day the target company shifts.  Expect LCID to also be a target today post earnings.