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Swing Trade Idea – April 4, 2022

Market Setup pre-800ET

•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 – long yields higher; yield curve inverted 2-10

•News: USA: factory orders Europe: Investor Confidence -18 vs -9; Talk of more sanctions but fissures developing  China: Will lift ban on providing full audit info -> China internet stocks +; Lockdowns extended Ukraine: Ongoing; Energy: USA releasing oil from SPR and China lockdown moderating oil in short term

•Stocks: JPM $1B loss on Russia exposure; TWTR Elon 9.12% stake; China stocks bouncing on disclosure news; SBUX downgrade to sell; TSLA delivered 310k cars in Q1; BYD delivered 53k in March (NIO, XPENG, LI delivered 36k). GGPI Polestar agreement with HTZ

•Indices: USA indices modestly higher with R2K and QQQ outperforming. High short interest and spec tech are bid as are Russia playbook names.  Indices are slightly negative gamma. SPY Support 452 450 445 Resistance 455 457 460.

•Sectors: Leading China; emerging markets, commodities, spec tech, biotech Lagging bitcoin, TLT, financials

•Stocks to watch: TWTR TSLA  BILI SQ CCJ AMD BAX SBUX JPM Spec Names: CAMT GGPI BROS BRCC DWAC

Pre-800ET

Earnings

Indices KWEB EEM ARKK XBI MSOS SOXX QQQ SMH XLK faangmt /btc TLT euro yen XLF

S&P500 TWTR TSLA MRNA FTNT ENPH DAL TXN BAX SBUX HOLX DGX LIN JPM FCX PPL

Movers CAMT JMIA BABA OLLI ZBRA BAX SBUX AZN

WSB NIO BABA GOEV SNDL RIVN NET RBLX CCJ GME OCGN DWAC

Trade Idea: XBI
Biotech has been basing and potential to breakout with 96ish a level to indicate the breakout is occurring. Large volume gap up to 109.