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Swing Trade Idea – June 30, 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$ Higher: YEN+  Euro- GBP – CAD – Swissie –

•News: USA: PCE 830ET Europe: German retail sales -; French Consumer Spending + China: non-mfg PMI 54.7 vs 50.4 Mfg PMI 50.2 vs 50.6; Sweden Rate increase

Stocks: WBA beat –Opiod settlement, lower vaccines; STZ beat;

•General: Leading: Long bonds  Lagging: Bitcoin, XOP, China Internet, EFA, XBI, Materials, Semiconductors

•Indices: USA indices pulled back overnight below key support levels. SPY at 375 gamma level with 370 support Resistance  380 385 390. QQQ below 280 large gamma level with support at 275 and 270  resistance 280 285 290.  VIX term structure uninverted but higher at 29.2,  1.8% move expected. Set-up is for a trend day lower but the PCE data will impact – be prepared for large drop or a short squeeze. JPM collar roll is forecasted for 7B buy into end of day

• Stocks to watch  AA GBTC BABA  AAPL TSLA MU COIN Spec Names: SHOP

Pre-800ET

Earnings STZ WBA

Indices TLT /btc EFA XBI KWEB SMH ARKn SMH SOXX XLB XLY IWM QQQ XLK XLF faangmt FDN SPY XOP

S&P500 LIN GM F STT FCX NVDA ETSY TSLA CRM RCL ENPH KEY DVN AMAT AAL AAPL

IWM AA  AMC PLUG CLF OVV GME M T MTDR

WSB COIN CCJ NET F RIVN AFRM AMC PLUG NVDA TSLA AMZN BABA AMD

Trade Idea: AAPL
AAPL is a proxy for the Nasdaq. Long over 138.4 with target 140 and 142. Short below 136.84 with target 136, 134, 131.