.

Swing Trade Idea – June 06, 2022

Market Setup pre-800ET

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, industrial metals (aluminum, copper, nickel palladium, zinc)

•Yields: Yields slight lower

•News: USA: Discussing reducing China tariffs but not steel and aluminum China: Caixin 41.4 vs 43; Ending probe into DIDI cybersecurity SaudiA: Raised official oil selling price

•Stocks: SAVE  JBLU raises offer to $31.25 per share;  AMZN trading post split; TSLA Elon: total headcount will increase J; KDP added to S&P500, UAA replace TRN in Midcap 400; Solars RUN ENPH FSLR SPWR – Biden executive action to boost US solar and use Defense Production Act to mfg US panels; VICI added to S&P500; BZ DIDI allowed on China app store this week; AAPL developer conference today

•Indices: Global indices bounced overnight. SPY @ 415  gamma level with 412 VPOC and 410 support and 418&420 resistance. QQQ above 310 gamma level which is support with 315 resistance and 306 VPOC and 300 lower support. VIX futures uninverted and 25 which is supportive to equities. SPY 1.6% move based on volatility.  No major Econ data until Fri and no Fed heads speaking reduce bearish black swans. Market is set-up risk-on with high short interest/Cathy stocks bid premarket.  Many stocks are extended premarket so BTD preferred to chasing.

•Stocks to watch AMZN TSLA ENPH FSLR GNRC COIN   TLT Spec Names: BZ DIDI MSTR RUN SWAV

Pre-800ET

Earnings FUTU

Indices KWEB /btc TAN ARKK ICLN SLV LIT EEM XBI SOXX QQQ SMH XLY  ARKF TLT

S&P500 ENPH SEDG WYNN TSLA GNRC LVS NVDA CCL SBUX ETSY PENN CZR AMD PYPL UAA

IWM RUN NOVA SWAV IRWD MSTR SPWR SAVE RAMP URBN YELP SI PLUG AMC VERU CROX QTWD

WSB MSTR BABA NIO COIN TSLA RIVN PLUG NVDA AFRM NET AMD AMZNTrade Idea: PDD
PDD is a proxy for Chinese internet names. Trading extended premarket with 55.4 high so ideally pullback desired for entry. Swing target 60 followed by 80