.

  • Swing Trade Idea – December 20, 2022

    Dec 20, 2022 Uncategorized Comments Off on Swing Trade Idea – December 20, 2022

    Color Key: Positive – Neutral – Negative

    Market Setup – Pre830ET

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

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

    •Yields: Yields are higher

    •Currencies:  US$ -.57%, Euro +.16%, Yen +3.29%, GBP +.04%

    •News:  Japan: Unexpected increase to the yield curve control limit which has lifted world yields and Yen Europe: German PPI -3.9% m/m Canada:  Retail sales 8:30ET  USA: Housing starts 8:30ET

    •Stocks: GIS -1.3% displays a beat and raise; TSLA -.39% show a 285 price target; AAPL  -.48% JPM displays a 190 price target; META -1.4% EU antitrust; QS +4% delivered first battery; GNRC -1% downgrade LCID +4% capital raise; NFLX -2% Ad supported plan was least popular

    •General: Leading: Gold miners, bitcoin, Europe, Energy, Materials •Lagging:  China, bonds, US$,Semis

    •Indices: The USA indices dropped with the BOJ raising the yield curve control limit, but have been bouncing since 3:00 AM. The Macro setup is mixed with lower global indices and the US$ displaying lower with yields that are higher. The SPY 379.27 has a resistance of 380, 385, and 390 with support levels of 375 and 370. The QQQ 268.7 has support of 266.5 and 265 with a resistance of 270, 275, 277.5, and 280. The USA indices are on sell but are oversold with DJIA leading and QQQ lagging. The BOJ decision has led to a large increase in yields and a drop in the US$, which benefits commodities and value stocks and negative for high beta. The SPY 380 and QQQ 370 are important support levels with a risk of lower levels below. VIX 22 implies a 1.4% move

    •Stocks to watch  NEM, AEM, DB, GIS, NIO, NFLX, AAPL, TSLA, Spec Names QS, SMCI, ZIM

    Pre-800ET

    Earnings GIS

    Indices GDX, /btc, GLD, EFA, XLE, XLB, euro, IWM, KWEB, TLT, UUP, SOXX

    S&P500 NEM, GILD, STX, MDT, MRNA, GNRC

    IWM SMCI, BEAM, RCUS, YELP, SAVE

    WSB RIVN, NIO, BABA

    Movers SMCI, DB, ZIM, DKNG, TAK, GFI, TTE, NEM, CIEN, ING, GOLD, PAAS, AU, BEAM, WPM, SBLK, FUTU, BILI, BEKE, GILD, YELP, BIDU, PDD, EDU, TTM

    My Trade Idea: NFLX
    NFLX is potentially in play with a WSJ article ad that promoted a plan is the least popular. There is a potential fade trade below $280. The premarket low is $277 and is bouncing in the premarket. In my analysis, NFLX will trade with QQQ and trade in its direction.

0 comment
Top