.

Swing Trade Idea – June 24, 2022

Market Setup

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

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

•Yields: Yields higher and steeper;

•US$ lower: YEN- Swissie+ Euro+ GBP + CAD +  Note: US$ rising in premarket

•News: USA: UofM Consumer Confidence, New Home Sales, Inflation Expectations 10ET FOMC: Bullard: Wants rates 3.5% and front loaded  Europe: EC leaders meeting, waiting on statement Oil: OPEC+ meeting next week

•Stocks: FDX sales miss guidance+ $1.5B buyback Q1 2023; KMX beat; BZ beat; NFLX 4% layoff; SGEN WSJ report MRK moving fwd; MSFT C top pick; SRPT FDA suspended MD drug; ZEN M&A

•Indices: Global indices strong premarket with meme that slowing economies will lead to CBs backing off rate increases. SPY above  key support 380 Resistance  383.4, 385. QQQ above support  285 resistance 290.  VIX term structure becoming uninverted and <30 so improving,  1.7% move expected. US indices +1% overnight but consolidating premarket. Risk-off set-up with lower us$ and lower yields; however reversal developing premarket so pullback into open possible. SPY 380 and QQQ 285 key inflection levels. Potential for short squeeze above premarket highs but 10ET Consumer Inflation expectations may lead to sharp pullback.

•Stocks to watch: ZEN FDX UPS BABA LI OXY FUTU ENPH TLT C RYAAY  Spec Names: ARKK

Pre-800ET

Earnings FDX BZ KMX

Indices KWEB XBI TAN ARKF MSOS XOP XLE JETS /btc TLT GLD

S&P500 FDX CTRA OXY MRO ENPH GNRC MO AMAT NVDA AMP

IWM MSTR EBS  LBRT CRK RRC OVV JELD BTU

WSB MSTR BABA COIN NIO NVDA

Trade Idea: PDD
China stocks continue to advance. PDD is above weekly volume resistance with next target 86.  Short term extended at 66.5 which can be used as a momentum trigger or look for pullback >=64