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  • Swing Trade Idea – December 21, 2022

    Dec 21, 2022 Uncategorized Comments Off on Swing Trade Idea – December 21, 2022

    Color Key: Positive – Neutral – Negative

    Market Setup – Pre830ET

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

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

    •Yields: Yields are lower

    •Currencies:  US$ +.07% Euro +.06% Yen -0.29% GBP -.34%

    •News:  Canada: CPI 830ET Europe: German Consumer Climate -37.8 USA: Consumer Confidence 10ET

    •Stocks: NKE +11% Beat by last bad lifting shoe companies; FDX +5% Beat; TSLA +2% Elon may step down, Layoffs;

    •General: Leading: Energy, Consumer Discretionary, Small caps Lagging:  Gold, Emerging markets

    •Indices: The USA indices are rising since European opened. Global equities are higher and yields lower supportive of markets. NKE and FDX earnings reports are better than expected providing support. The SPY 383.7 has a resistance of 385, and 390 and with support levels of 380, 375, and 370. The QQQ 271.1 has the support of 270, 269.7, and 265 with a resistance of 271.7, 275, 277.5, and 280. Vix futures 23.4 sharply higher implies 1.5% daily move and notable as rising with equities. The Large JPM SPX position is at 3835, in my opinion, may lead to stickiness until Dec 30 roll.  Strength in Russell and high short interest names bid may indicate a short squeeze driven move with SPY > 385.5 to confirm. Consumer confidence 10ET likely market moving.

    •Stocks to watch  NKE, FDX, SLB, AMZN, TSLA,  SBUX Spec Names X, ETSY, SBSW

    Pre-800ET

    Earnings NKE, FDX

    Indices XOP, XLE, XLY, ARKF, IWM, DIA, ARKK, XRT, FEZ, EFA, SMH, GLD, EEM, euro

    S&P500 NKE, FDX, ETSY, FANG, OXY, EOG, DVN, VFC, AMZN, HAL, NUE, SEDG, MO, SBUX

    IWM TH, CROX, FRO, OVV, X, PLUG, AA, CLF, PLUG

    WSB RIVN, PLUG, ASO, AMZN, CLF, GME, UPST

    Movers NKE, FDX, PHG, FL, HCM, TTE, ETSY, SBSW, EQNR, FRO, EDU, CROX, LULU, OXY, IBN, FRSH, MO, GMAB, XPEV, NTNX, SBUX

    My Trade Idea: FDX
    FDX earnings beat is a catalyst today. Premarket 173 with potential upside to 180. Can look for pullback > 171. Below 170.5 could be a fade

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