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Date: Dec 29, 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 -.42% Currencies:  USA +.1%

·         News:   USA:  Chicago PMI 945ET Eur: ISpanish CPI 3.1% y/y vs 3.2% 

·          Stocks:  NVDA new China chip BA China fleet flying but loose bolt news:)
Overview: USA SPY 476.7 with support at 474.4 and 475, and resistance at 479.1 and 480; SPY expected move +/- 2.5.  QQQ 411.1 with resistance at 413.9 and 415, and support at 410 and 408.8; QQQ expected move 2.55.  Global indices are relatively flat with USA indices marginally declining premarket.  Macro setup is negative with long yields higher and US$ higher.  Semis are outperforming on NVDA China chip release (third time for this).  Bitcoin bounce lifting related names [MARA RIOT HIVE]. US$, long rate increase is usually negative for precious metals. Oil bump usually negative for airlines and cruise lines.  Oil is below support hence caution that the premarket bounce in oil may be slippery.  Volume should be low and hence large intraday moves are likely, especially intraday.  JPM and other collared ETFs are rolling today which can lead to volatility at EOD.  Today’s daily expected move levels: SPY (479.1-474.4), QQQ (413.9-408.8), IWM (206.1-202), and SPX(4807-4759.7). 

Stocks to watch NVDA, AMD, ARM, TSLA

Spec Names MARA, HUT, GRFS, BOWL, LYFT

Pre-800ET
Earnings   

Indices /btc, USO, XLE, DBC, XBI, MSOS, UUP, SMH, TLT, IWM, GLD, KRE

S&P500 UBER

IWM MARA, LZ, EIOT, BOWL, GEO
Movers LZ, GRFS, HUT, MARA, SQM, GFI, CNHI, LI, BILI, RIOT, NTES, SHELL, BOWL, ELP, GEO, LYFT, UBER 

Trade Idea: TSLA

TSLA moved to the bottom of the daily expected move Thursday. Straddle approach today: long > 255 and targets 257.5, 260 and fade < 252.5 with targets 250 and lower.