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Swing Trade Idea – June 09, 2022

Market Setup pre-800ET

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

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

•Yields: Yields higher and curve steeper

•US$ lower

•News: Europe: Asset purchases end Jul1, 25bps increase Jul; inflation elevated; ECP press conf 830ET; USA: UE claims 830ET; Energy: USA natgas prices lower on Freeport terminal fire; China: Partial Shanghai lockdown;  Not allowing ANT IPO – negative for BABA;

•Stocks: TSLA Upgrade and US DOT EV charging stimulus/regs;  NIO, Billi, FIVE down on earnings; SIG up on earnings; US govt launching vaccines for children < 5 MRNA PFE BNTX

•Indices: USA bounced overnight but pulling back in premarket as 10yr yield rises. SPY below key 415 gamma  level with 412 and 410 support and 415 and 418  resistance. QQQ below 310 gamma level with 305 and 300 support and 310, 315 resistance. VIX 25 -> SPY 1.6% move based on volatility. Market is set-up for a range day but setup was weakened since 7am. 

•Stocks to watch TSLA TTWO BIIB ORCL  BILI BABA NIO JD AMZN Spec Names: LCI CLVS ICPT BLNK

Pre-800ET

Earnings FIVE PAGS BILI NIO SIG

Indices /btc ARKK TAN XLY yen XBI QQQ XLF XLK XLV EWZ EFA KWEB EEM IYZ ICLN SLV DBC GLD

S&P500 TSLA MRNA NCLH AAL PYPL MS CZR NVDA TGT AMD DIS WMB LVS MOS OXY

IWM TSLA GME AMC RIVN NIO BABA

WSB SIG GME SAVA LTHM STAG NVAX LBRT FRO

Trade Idea: TSLA
TSLA strong premarket with upgrade and release of DOT EV charging stimulus and regs. Negative chatter regarding China production. Consider TSLA long > 750 but  potential short < 742 with 700 target