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Swing Trade Idea – April 29, 2022

Market Setup pre-800ET

•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: Yields higher curve unchanged

•News: USA: PCE 8:30ET Chicago PMI UofM consumer sentiment; Europe: CPI 3.5% vs 3.2%, GDP Q-Q .2% vs .3%; China: Jawboning that will stimulate- lifted China stocks and commodities Japan: Golden week next week will reduce liquidity; Canada: GDP 830ET; Barclay suspends sales of commodity ETNs Ukraine: USA $33B good for defence co’s

•Stocks: AMZN big miss, affecting online retailers; AAPL $4B-8B guidance, China concerns, $90B buyback; TSLA Elon Sells $4B; CVX miss; INTC beat weak guidance China concerns slowing PC; HOOD miss, user drop; ROKU miss;

•Indices: USA indices pulling back in premarket. Yesterday price action of pop and drop was driven by large put positions and short covering which could occur today with Opex and put positions. SPY is between 425 and 420 gamma levels with 420 a key support level; QQQ between 320 and 325 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.  End of month and Opex look for large moves into the close, especially at gamma levels

Stocks to watch TWTR TSLA PDD CLF AMZN AAPL Spec Names:  HUBG LNTH

Pre-800ET

Earnings AMZN AVTR CENX EGO FBHS FIVN HOOD INTC AZN BLMN BMY CL CVX HON

Indices /btc faangmt XLY SMH QQQ XLK SPY XLF XBI FDN DIA XLE KWEB EEM GDX SLV GLD /6j /6e EWZ

S&P500 MHK FBHS HON NEM TWTR TSLA AMZN EBAY ETSY VRSN INTC CL AAPL NVDA KMI SWKS CVX OKE NOW

Movers HUBG NARI FBHS TPH TAL ROKU NVO TSLA TWTR HOOD AMZN WU INTC AAPL TDOC COLM CVX BMY V

WSB BABA NIO TSLA CLF HOOD AMZN NVDA RIVN PLTR RBLX AFRM AMC NET AMD GME

Trade Idea: AMZN
AMZN poor quarter. Premarket low 2521. AMZN key levels are increments of 50. Price currently 2600, one can look for longs and shorts at the 50 increments. Break of premarket low could be a short signal