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Laurie’s Abbreviation Index:

‘div’ – dividend 

‘m/m’ – month over month

‘y/y’ – year over year

‘Inven’ – inventories

‘mfg’ – manufacturing 

+/- – plus or minus, positive or negative

Color Key: Positive – Neutral – Negative

Market Setup Pre-8:30 AM ET PRE CPI

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

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

•Yields: Yields are higher

•Currencies:  US $ +.16%; $Yen -.55%; $CAD +0.23%

News: USA: CPI at 8:30 ET UK: Unemployment < expectations

•Stocks FRC +49%, WAL +35%, PACW +37% bounces in regional banks; UBER +6% court decision enables gig workers; GTLB -30% -guidance;

•General: Leading: Financials, bitcoin, and spec tech Lagging: oil, China Internet, Bonds, and Gold

Overview: The USA indices rising premarket in advance of the CPI print. Macro setup mixed with European indices are positive, US$ and yields are higher. SPY 388 with the support of 385, and 380 the resistance of 390, and 395. SPY expected move +/- 5.6. QQQ 293 with the resistance of 295, and 300 and with the support of 290,  and 285. QQQ expected move +/-4.7.  Regional banks are bouncing strongly with news that outflows were not extreme. Market is leaning risk-on premarket though yields and US$ higher can be a headwind

 Stocks to watch UBER, TSLA, JPM, SCHW, TSLA, NVDA, UAL, EDU, DVN   Spec Names COIN, RIOT, GTLB

Pre-800ET

Earnings GTLB

Indices XLF, /btc, ARKK, IWM, XRT, ICLN, QQQ, ICLN, QQQ, SOXX faangmt, USO, KWEB, TLT, GLD, GDX, EEM,

S&P500 FRC, KEY, CMA, ZION, HBAN, CFG, BAC, WFC, GS, JNJ, NVDA, PYPL, AMZN, UAL, DVN, NEM, AAL

IWM AMLX, EBC, MSTR, FRO, CVBF, FIBK, FBP, ABR

WSB UBER, COIN, UPST, MSTR, AFRM, AMZN, F, PLUG, NVDA

Movers FRC, WAL, AMLX, KEY, UNVR, ZION, CMA, EWBC, HBAN, FITB, BG, COIN, FRO, ROKU, ZIM, GTLB, UAL, EDU, LI, VALE, BILI, DVN, HMC, BIDU, FUTU, OVV

My Trade Idea: JPM

In my opinion, JPM is one of the best USA financials and will benefit from outflow from smaller banks. Momentum breakout over 134 or look for pullback > 132.