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Swing Trade Idea – March 24, 2022

Market Setup pre-830ET

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – MIXED global set-up

•Commodities:  Precious metals, oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

•Yields: Higher after Wed pop and curve steeper but flattening in premarket. Higher yields positive for financials

•News: Europe: services and mfg PMIs +; USA: Durable goods 830ET, PMIs 945ET UE claims 830ET;  G7 and NATO meeting, more sanctions positive for commodities and negative for European economy;

•Stocks: UBER deal with MFIN to lost all NYC taxis on app; KBH miss; SPOT add GOOGL play to billing;  Spec growth, shorted names and bitcoin are strong as are commodities and defense stocks.

•Indices: USA bounced led by Nasi and consolidating in premarket. SPY support 447.5 450 Resistance 450 451 452 expected move +/-.9%  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: SPOT NVDA AAPL NVDA  ADBE  Spec Names: CHWY MTCH MARA

Pre-830ET

Earnings DRI KBH OLLI TCOM

Indices /btc ICLN XLF XLE ARKK QQQ SOXX SPY XBI XLY faangm  TLT KWEB IYZ yen GDX ITB euro SLV

S&P500 MRNA MTCH NVDA RMD TSLA LVS JCI WFC C BAC MU AMD DRI NTAP MO SRE IFF LDOS

Movers UBER MFIN TCOM OXM WIX TSLA NVDA AAPL AMD CLF QCOM BA MOMO JD KBH GME NTAP AA ANC

WSB FIGS HUT SPOT SNDL ASTS ANY TLRY RIOT NVDA TSLA PLUG PLTR AMD GME AMC

Trade Idea: SPOT

SPOT has broken out on news of the payment deal with GOOGL. High valuation tech is in play today which is an additional positive. Premarket above resistance 155 with target 167