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Laurie’s Abbreviation Index:

‘div’ – dividend 

‘m/m’ – month over month

‘y/y’ – year over year

‘Inven’ – Inventories

Color Key: Positive – Neutral – Negative

Market Setup Pre-8:30 AM ET

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

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

•Yields: Yields are lower

•Currencies:  US$ -.05%; Yen +.35%

News: USA: FOMC minutes 14:00 ET;  EUR: German CPI 8.7% Y-Y

Stocks: PANW  +8.87% beat +guidance; BIDU +6.6% beat $5B buyback; RIO -2% dividend cut; INTC dividend cut; STLA +3% beat; WIX +9% beat; ZIP -16% miss; COIN EPS miss;

General: Leading: China Internet, Spec tech; TLT, Homebuilders Lagging: bitcoin. Gold miners, emerging markets

Overview: USA indices declined overnight and bounced premarket. Macro neutral with European indices lower, US$ lower, yields lower. SPY 399.9 has support of 398 and 395 with resistance of 400 and 405. SPY is expected to move +/- 3.0 today. QQQ 294.7  with a resistance 295, 300, and 305 with support 293 and 290. SPY and QQQ are below key 400 and 300 levels, hence at risk of further downside. Yield pullback is providing some relief and providing a bid to technology stocks and may lead to a mini short squeeze in no-profit tech ahead of FOMC meeting minutes. Minutes will likely be a market moving event at 14ET so take care.

Stocks to watch PANW, (ZS, CRWD, OKTA), NVDA, TSLA, STLA, BIDU, RIO Spec Names WIX, SHOP

Pre-800ET

Earnings ONEM, MTDR, ZIP, CSGP, KEYS, COIN, PANW, AU, RIO, STLA, WING, WIX

Indices KWEB, ARKK, XLK, QQQ, XLY, TLT, faangmt, XLB, GLD, XBI, IWM, /btc

S&P500 GRMN, CSGP, CRL, KEYS, NWS

IWM ONEM, TGNA, RCM, TGTX, WING, FSLY, CVI, FRO, ZIP, MTDR, TXRH

WSB BABA, COIN

Movers FVRR, PANW, WIX, ONEM, VRT, FMS, BIDU, GLBE, STLA, TGNA, BILI, SSR, CRWD, FSLY, PDD, AA, COIN, ZIP, CSGP, KEYS, AU 

My Trade Idea: PANW

PANW is in play on earnings with a beat and positive guidance. Premarket shows 183. There is a potential long over 185 with a target of 190 or I will look for a pullback > $177.5 and a bounce.  Analyst targets are 215-230. Other security stocks CRWD, ZS, and OKTA have potential sympathy