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  • Swing Trade Idea – December 30, 2022

    Dec 30, 2022 Uncategorized Comments Off on Swing Trade Idea – December 30, 2022

    Color Key: Positive – Neutral – Negative

    Market Setup – Pre830ET

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

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

    •Yields: Yields are higher

    •Currencies:  US$ -.11%, Euro +.04%, Yen +0.78%, GBP -.21%

    News:  USA: Chicago PMI at 9:45 AM ET Japan: BOJ unscheduled bond buys

    •Stocks: SJR +9.9% Shaw sale of biz unit to Quebecor; FUTU -28% Postponed dual HK listing; TSLA -1.5% No news;  NVDA -1.3%, AMZN -0.9%, AAPL -0.86% bounce profit taking TGTX +9% target raise to $23 ENVX +3% new CEO from MU.

    •General: Leading: Gold Miners, Gold Lagging:  China Internet, spec_tech, semis, tech, and small caps.

    •Indices: The USA equity futures are pulling back post 1 pm on Thurs. with a short squeeze high. The SPY 381 has a resistance of 382.5, 385, and 390 with a support of 380, 377, 375, and 370. Vix futures 23.5 implies a 1.5% daily move. The SPY put wall 375 and SPX put wall 3800 may provide support into the close and JPM hedge at 3835 in my opinion can act as a pin level.  Yields are higher weighing on tech stocks and premarket weakness in TSLA, AAPL, and NVDA leading the QQQ to the downside.  QQQ displays a support of 263, and 260, with a resistance of 265.  Today is the quarterly options expiration which can potentially lead to a large intraday move. SPY 380 and QQQ 263 display bull/bear lines today. In my opinion, indices will likely be oversold at the open and bounce as expected, but then I will watch for additional selling.

    •Stocks to watch  TSLA, AAPL, BABA, NVDA, FUTU Spec Names TGTX, KALA, SESN, ENVX

    Pre-800ET

    Earnings

    Indices GDX, GLD, KWEB, ARKK, SOXX, SMH, QQQ, ARKF, XLK, IWM, faangmt, XLY, EEM

    S&P500 ABC, VTR, AAL, MRNA, LVS, EQT

    IWM TGTX, ADTN, MSTR, GME

    WSB BABA, MSTR, NET, UPST, GME

    Movers SJR, ENVX, TGTX, FUTU, BILI, EDU, BEKE, PDD, VIPS, QFIN, JD, TSM, BIDU, ASML, MSTR, LAC, AAL, NET, UPST, SHOP

    My Trade Idea: QID
    The QID has an ultrashort on QQQ which is under pressure in the premarket. In my opinion, QQQ will likely bounce at the open from being oversold but has a potential for additional selling once the market opens. In my analysis, QID block trades premarket @26.44 can be used for a bullish above level.  SQQQ blocks at 55.5 can also be used. If the market bounce continues, TQQQ is a longer alternative.  Note, I expect a high intraday volatility today with quarterly options at expiration.

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