.

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 Negative global set-up

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

·       Yields: 30Y Bond +.4%  Currencies:  USA$  +.06% YEN +.4% BTC/USD +.19%  Vix: 15.7

·       News:  USA: FED Bowman 11ET CDN: Employment report China: Additional stimulus but not enough for market

·       Stocks:   EVH-34%, PINS-12%, BLMN-11.8%, FLR-10%, ABNB-6.7%, DKNG-4.6%, U-2.6%, CNH-10%, ANET-4.6%, DOCS+37%, TOST+14%, BILL+13%, SONY+7%, TU+5.8%, EXPE+1.6%  EPS
Overview: SPY 595.8 support 595 590 587.3 and resistance 599 600   SPY expected move +/- 3.4 QQQ 512.5 with support 510 509.6 resistance 515 517.5 expected move +/- 3.9. Global equities are down in NY premarket, macro is mixed with long yields lower but US$ higher. US indices are mixed with DJIA positive and Nasi lagging. SPX is in positive gamma meaning that dips will be bought and rips sold. There is a large short Iron condor with 6000 calls and 5945 puts sold that can act as guard rails today. 6000 is a huge level into next week which can act as a magnet. China stocks are lower after stimulus was deemed by market as insufficient to simulate consumers. Oil and metals are lower in sympathy with China weakness. TSM announced slowing growth in Oct which is not weighing on the stock but may be weighing on semis. TSM also going to halt production of leading edge processes destined to Chinese companies, following USA govt desire to hold back Chinese AI development but say the revenue impact will be minor. MAG7 are flat to down after the rampage of the last 2 days.
Expected moves SPY (599-592.2) QQQ (517.5-509.6) IWM (238.9-233.9) SPX (6007-5939)

Stocks to watch QCOM, AMD, NVDA, BABA, ARM, GOLD   Speculative LYFT, COHR, MTCH, DJT

Pre-800ET
Indices ETHE, TLT, UNG, XLF, UUP, XLU, KRE, KWEB, FXI, SLV, GDX, USO, EFA, ARKK, XME, GLD, EWC, IBIT, SMH, XLB

S&P500 AXON, SMCI, EXPE, NRG, ACGL, PODD, GEHC, BAC, HD, TAP, LOW, CEG, AKAM, ABNB, ANET, MNST, FCX, FTNT, DE, ENPH, PFE, LVS, TFC, MU, SW, DOW, AVGO, WYNN, NEM

NASI SMCI, GEHC, MELI, CEG, TSLA, NVDA, TTD, ABNB, MNST, FTNT, PDD, ASML, MU, ARM, AVGO, WBD, CRWD


 

Trade Idea: HD

HD reports earnings Nov12 so a potential run into earnings name. Premarket is above the key 400 level which can be used as a reference level for a long. Call wall is 420 which sets the target. There is an upgrade today with a 455 target. Not a fan of the name but there has been a Pavlovian buy ahead of earnings for many names which may be attributed to actual positive sentiment or shorts getting out ahead. Previous high 405.7 is a level to watch as was rejected previously.