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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

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

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

•Yields: Yields are higher

•Currencies:  US $ +.36%;

•News: USA: Beige book at 14:00 ET; UK: Inflation above expectations Canada: IPPI at 8:30 ET

Stocks ABT 2.3%, ISRG +8%, TRV 1.75%, USB 0.3%, WAL +13%, MS -2.8%, ASML -2.6%, NFLX -1.8%, ELV -1.7% EPS General: Leading:  Volatility, Regional banks, Lagging: Bitcoin, Gold miners, China Internet, Oil

•Overview: Global indices risk off. SPY 411.8 displays support of 411,410, and 405 with resistance at 415, and 420. SPY expected move +/- 1.9. QQQ 316 with resistance at 319, and 320 displays support of 316, 315, and 313. QQQ expected move +/- 2. Macro set-up is bearish with US$ and yields higher potentially due to UK inflation print. SPY 410 and QQQ 315 are key levels where bounce or breakdown expected. Regional banks and medical equipment are bright spots post earnings and semis are weak on ASML commentary. TSLA further price cuts and earnings after the close put the  stock in play today.

•Stocks to watch ISRG, ABT, ASML, NFLX, TSLA, TLT Spec Names  WAL

Pre-800ET
Earnings IBKR, ISRG, NFLX, UAL, WAL, ABT, ALLY, BKR, CFG, EDU, ELV, MS, NDAQ, SYF, TRV

Indices VXX, KRE, UUP, /btc, GDX, KWEB, USO, GLD, SMH, ARKK, EEM, EWZ, SOXX, XOP, ICLN, XLE, QQQ

S&P500 ISRG, TRV, ZION, FRC, CDW, NEM, NFLX, TSLA, META, HPQ, AMAT, INTC, MRO, CFG, OXY, FCX, CSCO, HPE

IWM RLAY, BBIO, RIOT, MARA, MSTR, EXTR, AI, FSLY, FRO, SMCI, ORA

WSB BOWL, MSTR, RIOT, COIN, AFRM, TSLA, RIVN, AI, UPST, AI, BABA, AMD

Movers WAL, LEGN, ISRG, BBIO, RLAY, PACW, EDU, AZEK, ZION, FRC, CDW, XPEV, MARA, LI, AU, EGO, RIOT, MSTR, ALC, GFI, COIN, EXTR, NVO, BILI, MT

Trade Idea: SPY

Indices are risk-off premarket with yield and US$ higher. In my opinion, oversold, look for a premarket bounce and potentially lower levels.  SPY 410 is the key level where a bounce or breakdown expected. A break below 410 is an indication of potentially a larger move lower. Watch yields and US$ for pullback as a clue for a bounce.