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Swing Trade Idea 2-13-2023

Market Setup Pre-8:30 AM ET

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

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

•Yields: Yields lower

•Currencies:  US$ -.12% Euro +0.2% YEN -.71%

News: CPI BLS methodology will be updated using a different lookback increasing uncertainty to Tuesday print. USA government COLA payments indexed to CPI; USA shooting down balloons and UFOs

Stocks: MNDY +11% beat; FSLY +8.9% upgraded; ZG +4.5% upgraded; TDC +5% beat, +guidance; CAT -1.3% downgrade; ABNB +.65% earnings this week; CHKP +1% beat, buybacks; NSC -3% Polyvinyl chloride derailment

General: Leading: China Internet, faangmt, spec tech Lagging: energy, bitcoin, gold

Indices: USA indices rising in premarket since European open but pulling back from short term overbought since 8ET. Macro setup mild positive with US and European indices higher, and oil lower. SPY 408.9 support 408.6, 405, 400 and resistance at  410, 415. SPY expected move +/- 2.9 today. QQQ 301  with resistance 302.5, 305, 310 and support  300, 295. With an absence of major Econ data today, market will move on flows driven by 0DTE option flow. Positioning is tilted towards risk-on with tech and spec tech leading. Caution towards EOD as hedging into Tues CPI may be a headwind. SPY > 410 and QQQ > 300 will be a bullish signal and SPY < 405 a bearish 

Stocks to watch BABA, META, MSFT, RTX, NSC, TSLA, Spec Names AI, MNDY, ASAN

Pre-800ET

Earnings OWL

Indices KWEB, faangmt, XLK, LIT, ARKK, QQQ, XLK, IWM, EWZ, TLT, DIA, XLE, /btc, GLD

S&P500 META, RL, MSFT, NVDA, CCL, FIS, NSC

IWM ASAN, AI, IMVT

WSB BABA, NIO, NVDA, AFRM, UPST, NET, COIN

Movers MNDY, ASAN, HTZ, ZG, BIDU, GDS, BILI, BEKE, IMVT, HTZ, CHKP, AI, PDD, LI, SMAR, RL, META, AXSM, NSC, EDGU, EQNR, ZIM, OKTA, COIN