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Swing Trade Ideas – March 14, 2022

Market Setup

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

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

•Yields: higher yield curve steeper – falling in premarket

•News: Russia-Ukraine: More peace talks; China Covid cases rising, Shenzen in lockdown. Major tech city which mfgs iPhone; Strikes by Iran against USA sites in Iraq stopped USA-Iran talks to bring oil online

•Stocks: ASO joining S&P600; TRQ offer from RIO; European stocks led by banks and USA financials are strong premarket in what is likely short covering; Chinese stocks are being killed partly due to Covid and partly due to concern that a move against Taiwan would lead to USA action; AAPL breaking down which will weigh on QQQ 150 is major support level to watch. AAPL weakness will weight on supplier SWKS QRVO LITE CRUS

Indices: USA indices moved higher overnight but are giving up gains since 630ET. SPY key levels support 420 415 410 Resistance 425, 430. Vix futures term structure inverted so risk remains high

Sectors: Leading: financials industrials airlines euro Lagging China internets, silver, commodities, long bonds, emerging markets, FAANGMT

•Stocks to watch MRNA LIN BAC CCL DB  OXY AAPL TSLA JD  Spec Names:  ASO RIVN

Pre-830ET

Indices XLF XLI XLB DIA XLV IWM SPY XLY XLP SMH QQQ XLK GLD TLT XLE SLV

S&P500 MRNA LIN WFC AIG BAC CCL C UAL  FTV DAL JPM KEY DFS PNC OXY WYNN DVN CVX LVS HAL APA SLB FCX

Movers TRQ ASO NOK ASND AZN GME F BLDP UL PFE SOFI WTW TSLA COIN JD BABA WTI NOG SNY NIO RIO

WSB ASO NOK HUT SKLZ SENS BA GME IVR BABA AFRM NIO GOEV RIVN UWMC PLTR AMC OCGN

Trade Idea SBUX
SBUX broke support Friday and has been in a decline since Jan. SBUX is negatively affected by  higher costs, Russia closures and will be affected by China lockdowns. Premarket 82.61 can be used for a momentum short but would prefer a bounce to 85 that fails.  Target 77 should SBUX continue lower.