Swing Trade Idea – February 22, 2022
Market Setup
•US markets mixed, Japan red, Europe mixed, Hong Kong red, China red, Asia red
•Yields: Yields reversed high 2ET steepening the yield curve
•US dollar flat
•News: Ukraine-Russia: Russia recognizes 2 regions, Germany halt Nord Strean 2 approval
•Stocks: HD beat forecast growth slightly positive; M beat, div raise, buyback; DWAC launch of Trump Truth ; TPX miss;
•Indices: S&P500 pulled back Mon on Russia news and bounced Tues 2ET. Vix futures are inverted signaling risk and vix futures 28.2 are rising in the premarket so risk remains high. USA 2ET bounce in US indices was expected based on last week’s put buying. SPY 435 is a pivot level that above can lead to 440 and below 430 can lead to 420. Expect a jumpy market reacting to news
•Sectors: Leading: energy defence retail Lagging bitcoin spec tech
•Stocks to watch: M DDS FANG DVN HD TSLA Spec Names: DWAC
Pre-830ET
Earnings APA AU CFX DISH DNUT EXPD FLR HD LPX M MDT TPX
Indices XOP XLE DBC EWZ SLV XLF /btc BLOK LIT JETS ARKK EEM ICLN SOXX MSOS faangmt
S&P500 MRO DVN CF FANG SLB MOS LMT GPS GD LIN SEDG TSLA NVDA CCL MRNA AAL ENPH DAL
Movers DWAC M TGN MRO AZN WMB MTDR APA HL TPX DKNG PLTR GT AMC SOFI TSLA FB GOOS
WSB RTX AMD CLF TSLA NVDA HOOD BABA
Trade Idea DWAC
DWAC is the Trump social media SPAC. Spiked on weekend release of Truth app up to 138 at 4:30ET and pullbacked to 95. This is a day trade idea for today that is uncorrelated with the indices. Premarket pulling back.
