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Swing Trade Idea – March 29, 2022

Market Setup pre-830ET

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

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

•Yields: Yield curve steeper – yields higher usually positive for financials and negative for tech however tech ignoring

•News: USA: CB Consumer sentiment, JOLTS 10ET;  Ukraine: Meeting in Turkey;  Oil higher on report Saudi price increase

•Stocks: Pre-market bid for risky assets continues and spec call buying may continue. China and Europe are bid with $USD lower. Ukraine talks are weakening commodities.  High call names: BB ET FSLR RL STNG SWN and of course TSLA GME AMC

•Indices: USA indices moving higher premarket on the strength of FAANGMT with financial support. SPY Support 450 Resistance 460. SPY, QQQ, AAPL, TSLA, GOOGL all have Demark 9 counts (potential reversal). Option skew is now most bullish in 2022 – no fear of anything, make sense?

•Sectors: Leading Europe, China Internet,  Lagging gold miners, energy, commodities

•Stocks to watch TSLA ING BILI MU LULU IWM AAL MOS X CLF CPE Spec Names: EPAM SWI ASO

Pre-830ET

Earnings IONQ PLAY ASO IMAB MKC Preearnings: MU LULU PAYX

Indices FEZ KWEB EFA ARKK EWZ JETS EEM XLF SMH XBI XLK QQQ GBTC  SLV XME XLE GDX TLT AGG

S&P500 EPAM FDX CCL FTNT SLB APA CTRA MRO FANG AAL MU BAC MOS ETSY CVS VTRS CF DG NEM BLL CTVA

Movers NVO QS IQ TSLA BCS BP FTNT HSBC XOM UBER WOLF NEO SNDL CONN PLAY ESLT TLRY AMC EH GME

WSB TSLA NIO BABA F PLTR BA AMD GME AMC

Trade Idea: FTNT
FTNT is a security name trading 345 in premarket on an upgrade and approaching breakout. Security names have been strong e.g. PANW.  Target 360