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Swing Trade Idea – April 27, 2022

Market Setup pre-800ET

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

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

•Yields: Yields lower curve unchanged

•News: USA: Pending home sales 10ET; Japan: BOJ outlook tonight China: PBoC looking to support the economy Gas: Russia will only accept Rouble payment for natgas from Poland Bulgaria who are refusing. Euro lower, gas higher

•Stocks: MSFT beat inline guidance Azure accelerated; GOOGL miss; BG beat; GD beat; ENPH beat; V beat and good guidance; BA miss; CVE EPS miss; BG beat; CHKP EPS miss; TXN EPS miss; STM beat; SHOO beat raise; BA large loss, delaying 777 until 2023, TSLA weak on meme that Elon will need to sell stock to buy TWTR, TWTR weakness on potential of deal failing

•Indices: USA indices bounced after close Tues which was a correlated selling day with FAANGMT put buying a major factor. SPY is between 415 and 420 gamma levels; QQQ between 315 and 320 levels. Look for acceleration or bounces at the gamma levels. VIX futures are inverted and with VIX > 30 risk is high.  Vix level corresponds to a > 2% daily move. Major earnings and month end this week will keep vol hi.

•Stocks to watch MSFT ENPH CCJ V AMZN JD GOOGL FB Spec Names:  MAT

Pre-800ET

Earnings BYD CB CNI COF ENPH EQNR EW EXAS GM GOOGL JNPR MDLZ ADP AMT BA BG BSX CHKP CME CVE DB EXTR FISV GD GRMN GSK HES HOG IQV KHC

Indices KWEB /btc ICLN TAN XLK EFA EEM IGV DIA XLB BLOK SLV XLY EWZ Euro TLT yen GLD

S&P500 ENPH V MSFT SEDG FCX MA GM TSLA BSX DD HAL NUE MOS TMUS FFIV JNPR COF GOOGL EW TXN FB

Movers DWAC V MSFT VRT XPEV ARCC SPOT TECK OC AZN GM TSLA EURN BSX BG CHKP FFIV JNPR COF GOOGL

WSB CCJ SPOT NIO CLF BABA TSLA PLUG GME AMZN AMC F BA NET HOOD AMD

Trade Idea: ENPH
ENPH is trading higher on Q1 beat and higher guidance. Price targets have been raised to 171-240. Premarket high 168.77 with gap above to 190.  One could look for a momo long over premarket high or a pullback > 161.2. Note tech is out of favor and risk that the pop will be sold. SEDG and TAN are other names in the space.