.

Color Key: Positive – Neutral – Negative

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

Underlined text – higher volume premarket

Market Setup- Pre-7:30 ET 

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

·         Commodities:  Gold, Silver, Oil, natgas, Softs, Industrial Metals 

·         Yields: Yields are lower Currencies:  USA -.06% 

·         News: Europe: Final CPI 5.5% y/y as expected

·         Stocks: Earnings: AMAT +.5% ROST +5% DE -.7% KEYS -12% EL -6.8%

·         Overview: USA SPY 433.9 displays support of 430 and resistance at 435 440. SPY expected move +/- 2.7  QQQ 355.3 with resistance at 360, 365, and 370 and displays support of 355, 350. QQQ expected move +/- 3. Risk-off set-up with global equities weak with only positive being a pullback in yields and US$ not moving higher. FAANGMT and spec tech are searching for a bottom. Indices are below the expected move for the week and with Opex today potential for acceleration to downside or late in the afternoon bounce as put positions close. SPY 430 and QQQ 355, 350 are potential support levels with high put positions.

·         Stocks to watch  CSCO, AMZN, NVDA, WMT, FCX, RIO    Spec Names IONQ, BILI

Pre-800ET
Earnings AMAT, ROST, EL, KEYS, DE

Indices  VXX, TLT, GLD, UUP, XLU, GDX, /BTC, KWEB, ARKK, faangmt, EEM, XLY, XLK, QQQ, SOXX, JETS

S&P500 AMAT, KEYS, EL, TSLA, CCL, AMD, PANW, DE, PYPL, AMZN, WBA, META, NCLH, NVDA, FCX, MSFT, LVS

IWM TGTX, MARA, IONQ, AI, BORR, RIOT, SMCI, JOBY, GOGL, FRO

WSB NIO, AI, COIN, RIOT, UPST, BABA, PLTR 

Movers HE, AMAT, MPW, BTI, KEYS, XPEV, VIPS, MARA, BILL, LI, NIO, IONQ, JD, BILI, COIN, AI, EL, TSLA

Trade Idea: QQQ
In my opinion, QQQ is continuing to fall with FAANGMT stocks in distribution. Today is Opex with put positions at 355 and 350 which can be used as lines in the sand. Potential for bounce off of 355 towards 360 or breach of 355 can lead to 350. May see late day moves as positions are closed.