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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 – Slight positive global set-up

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

·       Yields: 30Y Bond -.3% Currencies: USA$+.04% YEN -.1% Vix: 16.2

·       News:  USA: Retail Sales, UE claims, NY, Philly Fed mfg index 830ET; Ind prod 915ET; Biz Inventories 10ET China: Retail sales 2.7% y/y better; Ind Prod 2.7% better JP: Ind Prod -4.2% m/m weaker
Stocks: BABA -4%, CSCO+7.9%, WMT+6.3%, DE+2.2%, JD+3.9%, LITE+14.7%, ASTS+2.6%  EPS NVDA-.5% 13F filings indicate some prominent sellers ULTA+13% Buffet bought:) NKE+3.8% Ackman bought:) SNOW-4% some sold HEI+7% Buffet
Overview: SPY 545.4 support 545 540 and resistance 547.8 550 SPY expected move +/- 4 QQQ 464.3 with resistance 465 467.7 470 support 460 457.7 expected move +/- 5. Market was flat before data release then boom! **Retail sales 1%m/m; Initial job claims 227k vs 235k; Philly Fed -7 vs 5; NY Fed -4.7 vs -6 ** Market concern had moved to recession vs inflation and since the USA is consumer led, the retail sales data and claims lower than expected has the algos buying. Looks like broad based buying or short covering where the top movers are the weakest/most shorted names aka IWM/ARKK. 13F filings are out and the usual chasing/selling of buys and sells has started with NVDA NKE ULTA notable. Several have reduced NVDA which was down prior to the data release so worth watching how it performs once market is open. AMZN is the lead MAG7 but all are now up. There is further data at 915 and 10ET so take care. Philly and NY Fed were negative and Industrial production will give a view of mfg. SPY, QQQ are above the weekly and daily expected moves hence stretched so potential for a fade from these levels (dominant) or a trend higher as bears get their fur singed. SPY > 545 is a level for bear burn. Pullback < 545 is a caution signal. Expected moves SPY(547.8-540) QQQ (467.7-457.7) IWM(209.5-203.9) SPX (5495-5415)


Stocks to watch WMT, CSCO, ULTA, AMZN, NKE, TGT, GOOGL  Spec Names VSCO, SPHR, FLUT   

Pre-800ET
Indices SLV, XRT, IWM, KRE, ARKK, SMH, XBI, XLY, FXI, QQQ, XLK, IGV, TLT, XLU, UNG

S&P500 ULTA, WMT, CSCO, TPR, TGT, NKE, DLTR, HPE, AMZN, FCX, BMY, ENPH, DE, MU, C 

NASI CSCO, MRVL, DLTR, AMZN, MU, ASML, AMAT, TTD, PYPL, TSLA

Trade Idea: AMZN

AMZN is the lead MAG7 stock with the retail earnings beating expectations. 175 is the key level to move above which can lead to a squeeze with a gap to 182. Alternative is they sell the rip with potential to dip back to 170.