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Swing Trade Idea – March 1, 2022

Market Setup

• Global Markets:  USA, Europe, Japan, China, Asia , Hong Kong

•Commodities:  Precious metals, oil and natgas, Grains, industrial metals

•Yields: lower and flatter

•News: Ukraine invasion continues; USA ISM mfg PMI

•Stocks: TGT EPS beat sales miss; AMBA beat; SE miss; GDRX miss; Bitcoin running due to Russia SWIFT sanctions: MARA RIOT COIN MSTR ; WDAY beat; BIDU beat; SAIL beat;  AZO big beat; ACI strategic alternatives

•Indices: USA indices pulled back at 2am and in consolidation premarket. SPY Support: 430, 425 Resistance: 436.5, 440. Vix futures inverted and VIX 31.5 indicates high risk. Financials and FAANGMT both down premarket increases the risk of a larger move down. SPY 330 is a key decision level

•Sectors: Leading: bitcoin commodities oil bonds gold miners Lagging financials industrials spec_tech

•Stocks to watch: RTX TGT AZO COIN  CRWD AU DB WFC BAC  Spec Names: SI MARA GDRX AMBA

Pre-830ET

Earnings: TGT AU KSS BLDR BIDU GDRX LCID NVAX SE ZM HPQ LCID AMBA BIGC RIDE PAYA

Indices: /btc DBC XOP BLOK XLE TLT GDX SLV XLF MSOS XLI XLV ARKK XLK SPY QQQ faangm SOXX

S&P500 TGT AZO EPAM OXY DVN MRO KR FCX CVX CRM LMT MOS CF KEY HPQ CCL BK LIN WFC C GS

Movers: TGT LPSN SAIL ACI EVRI AZO BIDU HZNP EPAM IQ ADT SOFI  GDRX AMBA BIGC LCID SE RIDE FL ZM JPM PLTR WSB CCJ SOFI RTX AMC NIO RIVN NVDA

Trade Idea COIN
COIN is a proxy for bitcoin related equities. Bitcoin is moving higher post Russian banks exclusion from SWIFT.  Premarket 197, short term target 204 followed by 213.  Most bitcoin stocks extended so take care.