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Swing Trade Idea – March 30, 2022

Market Setup pre-830ET pre-GDP

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

•News: USA: ADP 815ET,  GDP 7% 830ET, Crude Inv 1030ET Europe: Spain CPI 9.8%  Lagarde-EUR will avoid stagflation; Covid: 100M+ Asian cases; Ukraine: no change

•Stocks: Small pullback in USA growth stocks after Tues surge and shift back to inflation names, Metals, energy may lead but BTD in growth may pickup depending on GDP. Gamma squeeze was strong in spec stocks Tues and may continue today. LULU sales miss, price hikes; MU beat positive data center view; CHWY lower fcst; RH lower fcst 3:1 split; PYPL, SQ GS upgrade; W Sell downgrade

•Indices: USA indices moving higher premarket on the strength of FAANGMT with financial support. 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: MU LULU PYPL MOS SLB OXY PAYX NEM X  NVDA TSLA W Spec Names: BROS BRCC

Pre-830ET

Earnings CHWY LULU MU PVH AER BNTX PAYX

Indices XOP yen ICLN XLE euro XME SLV KWEB /btc ARKK SOXX JETS UUP XLY SMH EFA QQQ

S&P500 MU MRNA OXY DVN MOS SLB APA HST CVX PYPL CF SEDG MHK UDR PG EPAM KIM CPB EIX AAL UAL ETSY

Movers LULU MU FRPT PYPL WDC  MHK JELD RH PG CCL HOOD FB TSLA BB AAPL  AMC 

WSB CCJ NIO SOFI HOOD RBLX PLUG RIVN AMC PLTR NVDA AFRM

Trade Idea: PYPL
PYPL upgraded by GS with price target of 144. Payment processors were strong Tues with big moves in MA and GPN. Earnings Apr26. Call open interest growing at 125 and 130 strike Also upgraded SQ with 173 target.