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Swing Trade Idea – December 08, 2022

Color Key: Positive – Neutral – Negative

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields Higher

•Currencies:  US$ +.05% Euro +.05% Yen -.39% GBP -.23%

News: USA: The UE Claims at 830ET Europe: Lagarde China: Running short of fever medicine, the concern of cases rising.

•Stocks: In my analysis, TSLA -1.6% has new margin loan potential Earnings: CIEN +16%, HCP +7% and MOMO +14%

•General: Leading: Euro Gold  Lagging:  China, Brazil, Semis, Spec Tech

•Indices: The USA indices are rising overnight with a mild risk-off setup. The SPY $395 in my opinion is at a major gamma level which can act as a resistance. Above $395 target of $400 and below $395 support at $390. The potential for a short squeeze; however macro set-up is not supportive with yields higher and US$ flat. Puts option buying in FANG stocks very elevated which may provide support. In my opinion, the Indices are below expected moves for week so a rebound is statistically more likely but at risk for larger moves to the downside elevated. TSLA potential additional downside risk

•Stocks to watch:  WYNN, LVS, BABA, DVN, CIEN, AAPL, TSLA    Spec Names MOMO

Pre-800ET

Earnings  AI, GME, HCP, CIEN, MANU

Indices KWEB, XLE, XOP, EEM, ARKK, IWM, XLB, SPY, TLT, EWZ

S&P500 WYNN, LVS, DVN, APA, SLB, MRO, OXY, META, JNPR,  BALL, FANG, TSLA, PCG, SPG

IWM BABA, NIO, COIN, CLF, TSLA

WSB BABA, NIO, COIN, CLF, TSLA

Movers CIEN, MLCO, BILI, RXDX, HCP, GDS, LI, XPEV, WYNN, BABA, LVS, GTLS, SQM

My Trade Idea:LVS
In my analysis, LVS and Macau casinos are in play today with Hong Kong relaxing Covid rules. The LVS is more diversified with property in Singapore which is also reopening. Premarket high $49.4 can be used for a momentum trigger or look for a pullback > $47.50.  50 key levels to take out for a larger move with option market targeting 60-65 in the medium term