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Swing Trade Idea – December 15, 2021

Market Setup

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

•Yield curve steeper with long yields higher, positive for financials

•US dollar weaker relative to Pound and Aussie

•News: China: Retail sales missed Y-Y, Investment in fixed assets lowest in 2 yrs; UK: CPI,PPI exceeded; USA: Retail sales 830ET, FOMC 1400ET;

•Stocks: LOW issued FY22 guidance HD down in sympathy; NUE Q4 EPS guidance below estimates; DWAC signed partnership with Rumble; RBLX Nov results Sales +84% Y-Y; CCMP acquired by Entegris;

•Indices:  USA indices are flat in advance of FOMC. Financials are slight outperformers in premarket. FAANGMT key to watch today with AAPL supporting markets and TSLA/NVDA at major pivot levels. SPX 4600 key level to hold today and 4700 level can lead to fast move

•Sectors: Leading: natgas Lagging: China Internet, emerging markets

•Stocks to watch: 

XLF KEY LLY LOW TSLA NVDA Spec Names: RBLX DWAC

Movers

Earnings HEXO

Indices UNG /btc XLF ICLN JETS euro KWEB EEM SLV TLT GDX XLB

S&P500 LLY KEY CMA PFE LUMN UPS AMCR BKNG WU ALB MDT NUE REGN DPZ MHK SHW FCX CMCSA

Movers CCMP UXIN LLY CON SIX PLMR TM AZN LTHM GBNE ALB MDT ENTG TREX DPZ MHK SHW CMCSA

WSB DWAC CLF AMS BABA

Trade Idea BMY

BMY is a sleepy pharma that is a potential breakout idea. Defensive names can be bid if rotation to value continues. BMY yield 3.6%. Upside trigger 60