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Swing Trade Idea – March 23, 2022

Market Setup pre-830ET

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – negative global set-up•Commodities:  Precious metals, oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

•Yields: unchanged Rates now pricing in a 50bps increase in May. High yields spreads rising is a risk indicator

•News: USA: Powell 8ET, Bullard 15ET, New Home Sales 10ET;  Ukraine: No positive changes

•Stocks: Earnings ADBE lower guidance; GIS beat may help staples;  PAGS TCEHY earnings;  Cresco buying Columbia Care for $2B Cannabis stocks moving. GME R Cohen bought 100k shares,  Premarket setup is for a rotation from growth and highly shorted names back into inflation names; NLSN Elliot M&A rumour

•Indices: USA indices red with Nasdaq lagging. Call option buyers have not returned to indices. SPY support 447.5 450 Resistance 450 451 452 expected move +/-.7%  SPX 4500 is a large resistance level into March expiration. Vix futures are no longer inverted which is bullish.

•Sectors: Leading: Commodities Energy Gold Miners  Lagging China Internets, Clean Energy, Semis, tech

•Stocks to watch: GIS OXY OVV GFI MOS MSOS BABA  ADBE  Spec Names: GME AMC

Pre-830ET

Earnings ADBE BZ GIS JKS WGO

Indices DBC XLE GDX SLV XOP GLD KWEB ICLN JETS SOXX EEM QQQ XLK XBI SMH /btc XLY

S&P500 OXY DVN APA NLSN MOS SLB GIS ADBE RMD PM FBHS EPAM TSLA PYPL NVDA BBY AAL

Movers GME TLRY ACB AMC BABA NLSN EOG POSH ADBE WGO XPEV STLA FBHS TSLA NVDA ING FB

WSB GME TLRY AMC SNDL BB BABA SOFI HUT SENS TSLA RBLX NVDA PLUG NET AMD

Trade Idea: HWM

HWM is an aerospace and defense contractor. Tues attracted call activity at 35, 38 and 40 strikes. Potential long above 37.7 or on pullback >= 36.7