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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

** ‘Y’ – year

**govt – government 

Color Key: Positive – Neutral – Negative

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

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

·         Yields: 30Y Bond +.05% Currencies:  USA  -.14%

·         News: USA:Consumer Sentiment 10ET  CDN: Retail Sales 830ET
Stocks:   SMCI +11%, TRV +4.9%  EPS;  W +15% Layoff +13%

·         Overview: USA SPY 478.9  support  477 475  and resistance 479 480 .  SPY expected move +/- 2.4  QQQ 416.4 with resistance  416 420 and support  410 ; expected move +/-2.7. USA indices have continued the Thurs surge led by MAG7 and Semis today. Macro factors are positive  with yields, US$ and oil lower. USA large cap indices are at the top of the daily expected moves which can act as resistance or acceleration above. Thursday afternoon surge partially due to rolls of covered call ETFs which may unwind this afternoon as the covered calls are sold.  Consumer confidence at 10ET may be market moving due to the inflation expectation. Breaches of daily expected move can lead to outsized moves. Today daily expected move levels: SPY (478.9-474)  QQQ (415.7-410.3), IWM (192.1-190.1) SPX(4805-4757). 

Stocks to watch: TRV, AMD, IBM, PYPL,   Spec Names: SMCI, W,

Pre-800ET
Earnings:   ALLY, RF, SLB, TRV, SMCI, JBHT

Indices: SOXX, SMH, /btc, ARKK, QQQ, XLK, GDX, faangtm, ARKF, VXX, KWEB

S&P500:  TRV, TXN, IBM, AMD, PYPL, T, NVDA, QCOM, MU, AVGO  
Movers: W, SMCI, EDR, TRV, SOXL, MNSO, TECL, VRT, TXN, ROKU, MRVL, IBM, AMD, PYPL, PLTR, T, CHGG, CELH, LI, ZIM, JD

Trade Idea: PYPL

PYPL has been attracting unusual option activity along with many tech related names. Earnings Feb 7 with call wall at 65 which can act as resistance or acceleration above.  Stock is very extended with potential support at 61 if sell activity if price < 62.5