.

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 lower
• Currencies:  US $ +.09%
• News: USA: Yellen 1005ET; FOMC Meeting Min 14ET UK: CPI y/y 8.7% vs 8.2%
• Stocks PANW +4.5% EPS ; A -9% Earnings INTU -5% EPS URBN +13% EPS VFC +2.7% EPS; BNS, BMO EPS ; KSS +11.7% EPS; ANF +16% EPS; ADI -5.6%  EPS
• General: Leading: VXX, USO, XRT, GDX, GLD, XLE Lagging: /btc, SMH, EFA, SOXX, ARKK, KWEB, XME, XLF, ALK
• Overview: USA SPY 412.9 support 412.35, 410, 405 and resistance 415, 420. SPY expected move +/- 2.2. QQQ 332 with resistance 335 and support 330, 328, 335. QQQ expected move +/- 2.0. Macro setup is neutral with yields lower, and US$ flat but global equities weak. S&P500 has been down trending since 1:00 ET Monday and is currently bouncing premarket. Dark pools previously bought at 412.2-412.6 and bottom of expected move for week is 412 so potentially at a support level. Break of 412 may indicate a larger move towards 410, 405 is possible.  QQQ bottom of expected move is 330 and a break below can lead to 328/325. Positive sectors post earnings are retail, security and negative are semiconductors, cloud software and Canadian banks. Energy will be strong with the move up in oil and gold getting a bid in classic risk-off.  Yellen at 1005 and FOMC meeting minutes at 14ET will be market movers.

·         Stocks to watch   PANW, KSS, ANF, URBN, A, ADI, BMO, NVDA, INTU    Spec Names AI

Pre-8:00ET

Earnings A, ADI, BMO, BNS, DY, FUTU, INTU, KSS, PANW, TOL, URBN, VFC, XPEV, WOOF

Indices VXX, USO, XRT, GDX, GLD, XLE, /btc, SMH, EFA, SOXX, ARKK, KWEB, XME, XLF, ARKF, XLK, XLB 

S&P500 VFC, MRNA, GLW, A, INTU, ADI, MCHP, FCX, CCL, TSLA, MU, NVDA, ON, NXPI, AMD

IWM UPST, PLTR, WOOF, AI, TSLA, NVDA, CLF, AFRM, AMD, RIOT

WSB UPST, PLTR, WOOF, AI, TSLA, NVDA, CLF, AFRM, AMD, RIOT

Movers ANF, URBN, KSS, AEO, PANW, M, JWN, MRNA, FUTU, FHN, GLW, GFI, PTCT, GNL, A, IONQ, ADI, BHP, STM, UPST, BHP, STM, AI, SHOP, JD, WOOF, FCX, ASML

Pre-8:00ET

Earnings BJ, DKS, KC, LOW, SDRL, VIPS, WSM, ZM

Indices /btc, USO, XLE, UUP, XOP, faangmt, KWEB, EFA, GDX, EEM, GLD, LIT, euro, XLB

S&P500 ZION, CMA, KEY, AIG, SCHW, USB, STLD, LOW, NEM, MRNA, AAP

IWM YELP, IONQ, MYGN, RXDX, AI, RIOT, MSTR, BE, SSTK, NNOX,

WSB RIOT, PLTR, AI, BABA

Movers YELP, IONQ, WAL, RXRD, FHN, ZION, RIOT, DKS, PLTR, BE, SCHW, KEY, GH, ZIM, LI, AU, JD, WPM, PERI, BHP, NVO, PDD, BABA, PDD, STLA, NEM 

Trade Idea: NVDA

NVDA is reporting earnings after the close today. Stock will move the semis, QQQ and SPY. Expected move is +/-19. The market is positioned bullish which in my opinion increases the risk if NVDA disappoints. In my analysis, 300 is a key level in today’s trading where a bounce or breakdown is expected. Below 300 I will look for 295 and 290. I believe there is a potential bounce at the open that must take out 305 to have confidence. The call is heavy so, the downside risk is high, on poor guidance despite AI hype.