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Date: Dec 11, 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 – Neutral  equity global set-up

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

·         Yields: 30Y Bond -.16% Currencies: USA +.04%

·         News: USA: 3Y auction 1130; 10y auction 13ET JPN: Machine Tool Orders -13.6% y-y  

·          Stocks:  M +15%, ARM +31%, AMD +.8%, SNAP +4.5%, CI +13.5%, RIOT -4.7%
Overview: USA SPY 459.2 with support at 458, 455, and 450, and resistance at 460 and 462, SPY expected move +/- 1.8.  QQQ 391.4 with resistance at 394 and 395, and support at 390, expected move 2.2.  USA indices are flattish with IWM leading and Nasdaq lagging.  MAG7 are mixed with weakness in MSFT, AMZN, GOOGL, META, and TSLA, NVDA leading which may weigh on Nasdaq.  Macro setup is negative with yields and US$ higher.  Bond auction today 11:30, 13:00 ET may move yields.  May be a choppy day, watch the daily expected move levels.  Today’s daily expected move levels: SPY (461.98-458.4), QQQ (394.3-390.0), IWM (187.9-185.7), and SPX(4622.2-4586.6). 

Stocks to watch NVDA, TSLA, SNAP, PINS, ARM, NKE, GOOGL, SE, COIN

Spec Names RIOT 

Pre-800ET
Earnings  

Indices SOXX, SMH, XLV, KRE, JETS, /btc, LIT, EWZ, ARKK, faangmt, TLT, GLD

S&P500 CI, PARA, MU, NKE, HPQ, HUM, WRK, AMD, INTC, ALB, ENPH, EQT, GOOGL, MSFT, MRO, SEDG

IWM SNDX, SAVA, ABR, SAVE, CLSK, MARA, RIOT, MSTR, LTHM, SMCI, CNX, IONQ
Movers M, CI, HOLI, SNDX, SNAP, JWN, PARA, KSS, PINS, DASH, XPEV, MDB, PLTR, MU, SE, CLSK, MARA, RIOT, RNG, AU, JD, MSTR, COIN, AR, ALB

Trade Idea: TSLA

TSLA is in a daily Bollinger band squeeze which can lead to large moves in either direction. Straddle approach today. Long > 245 with target 250 and cautious fade < 240 with target 235. Option market is leaning long with calls building at 250, 255 and 260.