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Laurie’s Abbreviation Index:

‘div’ – dividend 

‘m/m’ – month over month

‘y/y’ – year over year

‘Inven’ – inventories

‘mfg’ – manufacturing 

+/- – positive or negative

Color Key: Positive – Neutral – Negative

Market Setup Pre-8:30 AM ET

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

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

•Yields: Yields are lower

•Currencies:  US$ +.11%; $AUD -.69%

News: USA: Factory Orders at 10:00 ET Europe: Retail sales m/m 0.3% vs 0.7% Canada: Ivey PMI at 10:00 ET China: 5% GDP growth target below expectations

•Stocks: CIEN +10% EPS beat; AZUL +20% EPS; AAPL +1.5% Goldman upgrade TSLA +.5% price cuts; BBIO +47% positive drug results

•General: Leading: TLT FAANGMT Tech Lagging: Oil, China, Gold Miners, Metals, and Steel

Overview: USA indices moved lower overnight and are bouncing in the NY premarket. Macro mixed with European indices are lower, US$ higher, yields and oil lower. SPY 404.7 with support of 402.2, and 400 resistance of 405, and 410. SPY expected move +/- 2.5 today. QQQ 300.6 with resistance at 305 with support at 298, and 295.  Indices and most stocks are extended after last week’s short squeeze so an early pullback is possible. China growth guidance is weighing on the resource stocks which squeezed higher last week with the reverse in the US$ and yields. Powell is testifying Tues and there is a tendency for markets to rise into the testimony. In the absence of important data, the market will move in direction that 0DTE flow takes it. SPY 405, QQQ 300 are key levels, above which 0DTE call buyers may continue to squeeze shorts.

Stocks to watch CIEN [AVGO ANET], CRWD, AAPL, TLT, SBNY, FCX, KBH  Spec Names HCP BBIO

Pre-800ET

Earnings ADAP, AZUL, CIEN

Indices /btc, TLT, faangmt, XLK, USO, KWEB, XOP, GDX, XME, XLE, SLX, EFA, XLB, GLD

S&P500 AAPL, EMR, SBNY, EQT, FCX, DHI, INCY, CTRA, MRO

IWM BBIO, VIR, KW, FRO, CRK, HR, GOGL, CNX, HIMS, NE, KBH

WSB WEN, CLF

Movers BBIO, CIEN, VIR, HTZ, AXTA, HCP, KW, STWD, CRWD, TCOM, ALV, FMS, AAPL, MANU, DQ, BMRN, CRK, RIO, WDS, SBNY, FRO, BHP, EDU, GOGL, PANW, AR, EURN, CNX, HR, RRC, ASML, BILI, AA, EQNR

My Trade Idea: CRWD

In my opinion, CRWD is in play with earnings Tues after the close. Stock is extended with premarket high of 131.45. While price is above 130 it can run to 135, which is the next level with high call open interest.  One can use premarket high for a momentum long or pullback > 130.