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Date: Nov 21, 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 – Slight negative equity global set-up

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

·         Yields: Long Yields lower Currencies:  USA -.11%

·         News: USA: Existing home sales 10:00 ET; FOMC Meeting Minutes 2:00 ET EUR: Lagarde 11:00 ET CDN: CPI 8:30 ET JPN: Yen strong as market anticipates BOJ tightening monetary policy
 Stocks: SYM +24%, BURL +11%, DKS +8%, DY +10%, MDT +1.9%, KSS -3.5%, LOW -4%, J -1.5% Earnings reactions 
Overview: USA SPY 453.5 with support at 450 and 445, and resistance at 455 and 456.2.  SPY expected move +/- 1.9.  QQQ 389.6 with resistance at 390 and 393.8, and support at 385 and 380, expected move 3.1.  USA indices are declining premarket after Monday moving well above daily expected move led by surge in Mag7.  Macro setup is positive with long yields lower and US$ lower. Msg7 taking a breather with MSFT down premarket after Monday surge and OpenAI news.  NVDA earnings after the close is the big event with FOMC minutes the small event.  Today’s daily expected move levels: SPY (456.2-452.3), QQQ (393.8-387.6), IWM (181.3-177.4), and SPX (4566.7-4528.1). 

Stocks to watch TSLA, A, MDT, BURL, DKS, LOW, KSS, MSFT, AVGO

Spec Names BROS, VALE

Pre-800ET
Earnings A, MDT, SYM, BURL, DKS, DY, MDT, KSS, LOW, J, AEO, ANF

Indices GDX, GLD, VXX, TLT, TAN, XLV, KWEB, EWZ, /btc, ARKK, MSOS, SOXX, IWM, faangmt, SMH, XOP, XBI, KRE

S&P500 A, MDT, WRK, NEM, BBY, LOW, MRNA, AVGO

IWM AI, AEO, ANF, MARA, IONQ 
Movers SYM, BURL, DKS, A, CRH, SRPT, AI, MDT, GFI, MNSO, WRK, NEM, BIDU, NET, AEO, ANF, BBY, VMW, KSS, LOW, TCOM, MRNA, AVGO, LI, PBR, CNHI, MARA, ZM, CNHI, XPEV, COIN, PBR

Trade Idea: NVDA

Earnings after the close.  Expected move +/-38 today this 1 standard deviation or a 68% probability or remaining within the range. Intraday today bullish > 500. Take care if holding through earnings as price for perfection with risks that the Chinese have been buying in advance of sanctions and whether suppliers were able to fill orders. NVDA will move suppliers like TSM and chip companies like AMD, INTC, MU.