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Swing Trade Idea – March 15, 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 flatter – lower but rising in premarket

•News: Russia-Ukraine: Ongoing; China lockdowns and Ukraine ceasefire talk rational for lower oil prices; China retail sales, industrial production well above expectations; German ZEW -38% vs +10%; USA: PPI 830ET 1% expected

•Stocks: COUP  weak guidance; GTLB beat; China stock selling continues; Airlines premarket bid on lower oil; Commodity trade unwind leading to premarket flow into tech but may be sell the rip. Tech is moving with yields, which fell overnight but are rising into the open. If yields continue to fall, tech may outperform otherwise selling can continue. Chop may continue ahead of Wed Fed meeting.

•Indices: USA  indices dipped 1% overnight and recovered since 430ET.  SPY key levels support 415 410 Resistance 420 425, 430. Vix futures term structure inverted so risk remains high

Sectors: Leading: airlines tech faangmt Lagging energy China gold emerging markets

•Stocks to watch: DAL UAL MRNA ZIM MSFT OXY GOLD Spec Names:  GTLB PSO  XPEV

Pre-830ET

Earnings COUP DLO GTLB LAC

Indices JETS ARKK XLK QQQ faangmt XLV SPY XLE KWEB XOP DBC GDX SLV EEM EWZ

S&P500 MRNA DAL AAL UAL EFX FB MSFT OXY MRO HAL APA DVN NEM HRL

Movers GTLB GME GDRX SNY PTON TOST ZIM MSFT COUP BABA NIO NTRA HRL SOFI

WSB GME AMC NVDA PLTR BABA NIO CCJ CLF F

Trade Idea PFE
PFE is a potential breakout candidate that moved above the the 50sma with elevated volume. High call buying Apr 55 calls.  One can look for a pullback or breakout above 52.25.  Overhead resistance may stall advance.