.

  • Swing Trade Idea – January 23, 2023

    Jan 23, 2023 Uncategorized Comments Off on Swing Trade Idea – January 23, 2023

    Color Key: Positive – Neutral – Negative

    Market Setup Pre-8:30 AM ET

    Global Markets:  USA, Europe, Japan, Asia –  Mild Bullish global set-up

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

    •Yields: Yields are higher

    •Currencies:  US$ -.07%, Euro +0.22%, Yen -0.54%, AUD +.42%

    News:  USA: Fed blackout, market pricing 25bps; CB leading index 10ET Europe: Hawkish rate increase comments, Consumer confidence 10ET

    •Stocks: CRM +4.5% Elliot Involved ; SPOT +4.7% cutting 5%;  TSLA +2% Squeeze continues; AMD +2.6%, QCOM +2% Upgrade; W +12% upgrade; AQUA +16% XYL buying; AMAT -1.3% downgrade; SYF +1.4% beat lowered estimates, 4Q credit loss allowance 10.3% of receivables

    •General: Leading: bitcoin, China Internet, Smis, Energy Lagging: TLT, Low Volatility, Gold

    Indices: USA indices consolidated overnight and rising into NY open. Macro setup mixed with yields are higher,  US$ lower and energy higher. China, and Hong Kong are closed.  SPY 396 is above 395 and with support of  390 and below 400 and 405 resistance. QQQ 283 above support of 280 and below 285 and 290 resistance. The lack of news and big earnings reports puts the market in the hands of the 0DTE options market. Premarket it looks like the Casino is open and short squeeze can continue. Caveat is that post a large Opex, volatility can increase. Nasdaq stocks continue to be bid; however take care since many are extended premarket.

    Stocks to watch AMD, QCOM, TSLA, APA, CRM, SYF, AMAT, PYPL,  Spec Names SHOP, W, SPOT, CFLT, PLRX

    Pre-800ET

    Earnings BKR SYF

    Indices /btc, KWEB, SOXX, SMH, XOP, XPH, ARKK, euro, TLT, SPLV, GLD, EFA, GDX, XLB, XLV

    S&P500 CRM, WDC, TSLA, AMD, QCOM, NVDA, APA, NCLH, XYL, AMAT, PYPL, TPR

    IWM AQUA, MSTR, PLUG, AR, SMCI

    WSB AMD, TSLA, MSTR, PLUG, NVDA

    Movers AQUA, W, HCM, CRM, SHOP, SPOT, CFLT, WDC, AMD, SWKS, TSLA, SKX, ASML, QCOM, XYL, FLNG, AMAT, CRWD, PYPL

    My Trade Idea: CRM
    In my analysis, CRM is in play on news that Elliot has taken a multi-billion stake.  Premarket high 159, stock is extended and pullback > 156 is a potential long with target of 160. Above 160, 165 is a target.

0 comment
Top