.

Color Key: Positive – Neutral – Negative

Laurie’s Abbreviation Index:

‘div’ – dividend 

‘m/m’ – month over month

‘y/y’ – year over year

‘Inven’ – Inventories

Date: Feb 16, 2023 

Market Setup Pre-8:30 AM ET PRE PPI Report

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields are lower

•Currencies:  US$ -.15%

News: USA: PPI, Philly Fed, UE claims, Building permits 8:30ET ;

Stocks: ROKU +12%, CSCO +3%, TWLO +11%, SGEN + 8%, CROX +7%, SPWR +2% Earnings beats; SHOP -10%, UPWK -8%, DDOG -6.5%, PARA -6%, UPST -3%, SNPS -3% Negative earnings reaction

General: Leading: bitcoin, China Internet, Spec tech  Lagging: Semis, Tech

Indices: USA indices are falling since the Asian open, ahead of Econ data. Macro setup is mixed with European indices higher, US$ lower, and yields and oil higher. SPY 412.3 has a support of 410, 405, and 400 with resistance of 415, and 420. SPY is expected to move +/- 2.6 today. QQQ 307 has resistance of 310 with support of 305, 300, and 295. PPI, Philly Fed, and UE will be marking and moving at 8:30 ET. SPY > 410 and QQQ > 305 are key bull bear levels. Wed. was another short squeeze day. IWM, ARKK, Bitcoin are good signals for a short squeeze day.  The last 2 days tend to have increased volatility and high call buying can be negative should markets start to ease off, take care.

Stocks to watch CSCO, TWLO, CROX, ROKU, JD, SHOP, DDOG, Spec Names PLTR

Pre-800ET

Earnings ALB, CF, CSCO, ET, FSLY, INVH, ALKS, BLMN, CROX, CVE, DDOG, DOCN, TWLO, ROKU, TS, Z

Indices /btc, KWEB, ARKK, IYZ, PRNT, EFA, IBB, ICLN, SMH, SOXX, XLK, QQQ

S&P500 CSCO, GNRC, ALB, PARA, NWSA, MMM, NVDA, WBD, EA

IWM BLMN, DOCN, CROX, SHAK, STEM, SPWR, PBF, BOWL, BYND, MSTR, FSLY, NUS, UPWK, AMPL, CARG, DHT, LTHM

WSB GME, BOWL, MSTR, UPST

Movers TWLO, ROKU, TS, ORAN, SGEN, TECK, BLMN, CROX, ZG, SE, RELX, JD, CSCO, STEM, GNRC, ALB, SPWR, GME, QS, RNG, SHOP, PARA, TOST, PARA, DDOG, DHT, TRIP, CVNA, UPST

My Trade Idea: SPY
SPY is moving lower ahead of key USA economic data at 8:30 ET.  I expect a move today +/-2.6. 410 has been a significant support level and one can consider longs over with targets of 412.5 and 415. Should 410 not hold, 405 and 400 are my targets. The market has been in buy mode ignoring all data which may continue but the last 2 days before Opex can lead to larger moves so keep head on a swivel.