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Swing Trade Idea – April 8, 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: Yields higher 2-10 steeper

•News: USA: Wholesale inventories Europe: France election Macron +3% lead vs Le Pen Ukraine: Ongoing

•Stocks: TSLA opened Austin factory, Shanghai remains closed; HOOD GS downgrade (IPO broker); KR upgrade; CRWD target raise

•Indices: S&P snapped back Thurs afternoon and squeezed up to 4500 resistance. Overnight 4500 was retested  and pulled back as yields rose. Global equity set-up is positive but rising yields can weigh on markets. A large number of puts were closed on the Thursday squeeze opening the door for a downdraft should they be added today. Spec tech is bid premarket hence a risk-on feel.  SPY Support 447(200sma) 445 440 Resistance 450 (gamma) 452 455. SPY 445 is key level to hold

•Sectors: Leading KWEB LIT EWZ ICLN EEM ARKK TAN XLF Lagging XME SLV  faangmt

•Stocks to watch: CRWD PDD NVDA TSLA  MOS  Spec Names: NNOX BEKE LXU

Pre-800ET

Earnings WDFC

Indices KWEB XLF EEM /BTC ICLN XLB SOXX ARKK DIA GDX TLT GLD

S&P500 KR TGT MOS CHRW NCLH CZR F BAC WFC ALB CCL HPQ UPS TWTR UNP UDR PFE HRL MKC

Movers WDFC CPNG KR STLA CHRW JBLU PAGS SAVE TSLA NVDA MSFT AMD  HOOD GMAB TWTR PFE BIIB

WSB BABA CLF CCJ AMD PLUG NIO NVDA RIVN NET HOOD AMC BA

High Short Interest  LOVE LAZR BBBY SPCE FUBO AMC RXT

Trade Idea: LXU
LXU is a small cap fertilizer name which are strong with Russia-Ukraine and high nat gas prices. High option volume with strikes $5 increments. Extended with 26.5 premarket which can be used for a momentum breakout or look for pullback to >25.20