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Date: Oct 10, 2023 

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

** ‘d’ – day

**govt – government 

Color Key: Positive – Neutral – Negative

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

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

·         Yields: Yields higher Currencies:  USA -.01%

·         News:  USA: FOMC Waller 13ET Kashkari 15ET. Yesterday’s FOMC speakers left impression of FED pause

·         Stocks:   QRVO -3.6%, SWKS -3.3%, JNPR -3.3%, GLW -2.5% downgraded, TFC +3.2% selling division, COHR +9.6% $1B investment, U +4% price target cut, H +6% added to SP400, PLTR +1.7% Army contract 

·         Overview: USA SPY 432.2 with support at 430, 425 and resistance at 433.4 and 435.  SPY expected move +/- 2.8.  QQQ 366.5 with resistance at 368, 370 and support at 365 and 360.  QQQ expected move +/- 3.3.  USA markets are neutral after Monday’s low volume squeeze which has left indices extended.  Global equities are providing a positive catalyst but higher yields are a concern.  Israel war concerns are fading rapidly with oil lower but defense stocks and gold have a bid.  Yesterday daily EMs acted as resistance. FAANGMT are mixed with AAPL negative report from a bull, TSLA slipping but MSFT getting a bid.  Today daily expected move levels: SPY (435.08-429.5), QQQ (369.9-363.3), IWM (176.4-272.6), SPX(4363.7- 4307.7).

Stocks to watch PEP, RTX, MSFT, AU, TLT, USO, SWKS, AAPL, NFLX   Spec Names  RIVN, COHR, U 

Pre-800ET
Earnings PEP, LVMH

Indices KWEB, FEZ, EFA, ICLN, LIT, EEM, JETS, KRE, XLI, TLT, XBI, USO, GLD, QQQ, IWM, XLK

S&P500 TFC, NOC, EA, LMT, PEP, RTX, RMD, SWKS, QRVO, JNPR, GLW

IWM ACAD, LTHM, BHVN, FRO, SBRA, AKRO, PD, NEOG, NTST

WSB RTX, BABA, PLTR, RIVN

Movers COHR, AU, U, GFI, TFC, WOLF, RIVN, MT, LI, STLA, BILI, FRO, RIO, VALE, JD, AKRO, ETNB, PD, JNPR, SWKS, GLW, SE

Trade Idea: ITA

Monday’s idea of defense stocks repeated today with caveats that has risen to resistance. TRP target 1 at 111.8 with BA, NOC, RTX, LMT and GD being the major names. Premarket high 110 can be used for a momentum long or pullback > 107.