.

Date: Dec 6, 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 positive equity global set-up

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

·         Yields: 30Y Bond -.08%

·         News: USA: ADP jobs 8:15ET; Crude inventory 10:30ET EUR: German factory orders -3.7% m/m  

·          Stocks: TOL +1.8%, S +17%, BOX -12%, OLLI +5.4%, MDB -5%, ASAN -3%, BOX -12%, FLNC -12%, PLAY -1.7% Earnings SHOP -1.4% downgrade; FLNC -12.5% secondary
Overview: USA SPY 457.55 with support at 456.6 and 455, and resistance at 458.7 and 460, SPY expected move +/- 2.1.  QQQ 388.4 with resistance at 390, and support at 385 and 380, QQQ expected move 2.7.  USA indices are positive pre-ADP reports with IWM leading.  Equity markets are leaning to risk-off with IWM & ARKK leading and TSLA & NVDA leading MAG7 with all MAG7 positive.  Macro is neutral with bonds lower and US$ flat.  ADP was below expectations but flat with the prior print, which is arguably neutral and may provide a lift to markets at least into the open.  Watch the daily expected move levels.  Today’s daily expected move levels: SPY (458.65-456.6), QQQ (389.98-384.6, IWM (186.4-182.38), and SPX(4587.65-4546.7). 

Stocks to watch S, TSLA, NVDA, AMD, MDB      

Spec Names RIOT, MARA, GME

Pre-800ET
Earnings MDB, TOL, S, OLLI, ASAN, BOX, PLAY, THO 

Indices KWEB, LIT, MSOS, EWZ, EFA, /btc, ARKK, IWM, USO, VXX, TLT, euro

S&P500 ALB, CPB, DFS, COF, TSLA, CCL, RMD, O, WRK, KIM, MO, PM

IWM TGTX, SHAK, LTHM, SIG, MARA, IONQ, RIOT, ASAN, BOX, FLNC, CRDO, PLAY
Movers S, TGTX, OLLI, EDU, HUT, STLA, GME, BILI, SQM, LTHM, RIO, HSBC, HOOD, CPB, XPEV, ALB, ASAN, BOX, INMD, FLNC, BTI, MDB, TOST, PLTR, SHOP, MO, AU

Trade Idea: TSLA

TSLA is strong premarket with bullish option positioning and can outperform IF market retains risk-on tenor. TSLA 243.9 can be used for a momentum long to 245, 247.5, 250 or alternatively look for pullback to 242.5, 240 for a bounce. Break below 240 can be a fade trigger.