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Swing Trade Idea – June 29, 2022

Market Setup

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

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

•Yields: Yields lower and flatter;

•US$ flat: YEN-  Euro- GBP – CAD + Swissie ++

•News: USA: GDP 830ET Europe: Consumer Confidence – CB: Mester 75bps July,  Powell  Lagarde 9ET Bullard 1305ET Williams and Daly backed rapid rate increase Tues Oil: Libya issues Stocks: PINS new CEO from GOOGL NIO short seller report; TSLA laying off Autopilot workers GIS beat and div increase MKC miss guidance- SHOP split BBWI replace CEO on major miss CCL MS major downgrade Semiconductors downgraded by BofA

•General: Energy, Gold miners, Bonds leading Travel, semis, spec tech lagging

•Indices: USA indices consolidated after Tues drop. SPY above key support 380 Resistance  385 390. QQQ above 280 support resistance 285 290.  VIX term structure uninverted but higher at 28.85,  1.7% move expected. Indices and major stocks are at the bottom of the expected move for the week but also major support. Expecting a bounce on the open; however, Powell and Lagarde speaking increase can lead to large moves. Critical that SPY 380 and QQQ 280 hold.  Watch VIX as > 30 can lead to selling

•Stocks to watch: AR MRO GIS FDX MCD SHOP TXN CCL Spec Names: PINS NIO

Pre-800ET

Earnings GIS MKC PAYX

Indices XLE XOP GDX TLT /6e /btc ARKK SOXX XBI KWEB SMH JETS

S&P500 GIS ORCL CCL MKC NCLH BBWI QRVO RCL MO SWKS TER TROW TXN BEN CCI LIN AAL TSLA UAL

IWM LRN ESTE BHVN SBH MFA NVAX ARI AMC BXMT  BGS SPWR PLUG

WSB NIO AFRM COIN AMC PLUG TSLA RIVN

Trade Idea: AAPL
AAPL is a proxy for the Nasdaq. Long over 138.15 with target 140 and 142. Short below 136.84 with target 136, 134, 131.