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Laurie’s Abbreviation Index:

‘div’ – dividend 

‘m/m’ – month over month

‘y/y’ – year over year

‘Inven’ – inventories

‘mfg’ – manufacturing 

+/- – positive or negative

Color Key: Positive – Neutral – Negative

Market Setup Pre-8:30 AM ET

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

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

•Yields: Yields are lower

•Currencies:  US$ -.22%; $EUR +.19%

News: USA: ISM Services PMI 10:00 ET; FOMC Logan 11:00 ET Bostic 12:00 ET Bowman 15:00 ET Europe: Services PMI 52.7 vs 53

Stocks: COST  -2.2% Rev miss; MRVL -11% EPS miss; AVGO +1.4% EPS beat ZS -11% -guidance; JWN closing Canadian stores AI +19%

General: Leading: TLT, Gold miners, Airlines, tech Lagging: Bitcoin

Overview: USA indices moved higher in the European session with ISM to be reported at 8:30.  Macro positive with European indices higher, US$ lower, yields and oil are lower. SPY 399 with support at 397, 395, and 390 and resistance at 400, and 405. SPY expected move +/- 2.5 today. QQQ 294.5 with resistance of 295 and support at 292.5, and 290. Indices bounced from potential breakdown levels Thurs with 0DTE call buying lifting S&P500 above the 200sma potentially as a result of Bostic statement of supporting 25bps increase in March. ISM report at 10:00 ET will be market moving. SPY 400 is a major level that can act as resistance or alternatively lead to a spike above.  Pre ISM market is configured for risk-on with growth outperforming.

Stocks to watch TSLA, META,  AAPL, GOGL, AU, COST, MRVL, ZS, COIN Spec Names AI

Pre-800ET

Earnings AI, AVGO, CHPT, HPE, IOT, JWN, VMW, COST, DELL, ESTC, MRVL, VSCO, ZS

Indices TLT, GDX, GLD, JETS, XLK, ARKK, EFA, LIT, /BTC

S&P500 META, TSLA, HPE, KR, AAPL, PG, COST, PXD, HRL, VNO

IWM AI, GOGL, ASAN, FRO, FLNC, ARRY, BMBL, MSTR, ECVT

WSB TSLA, PLUG, RIVN, GME, MSTR, COIN

Movers AI, GOGL, ASAN, FRO, RIO, EDU, TSLA, AU, FLNC, FSLR, MT, AAPL, STLA, U, STLA, ZS, CHPT, MRVL, BMBL, COIN, VSCO, ESTC

My Trade Idea: TSLA

In my opinion, TSLA is in play as usual. China sales showed improvement in Feb. Premarket high of 195.8, and low of 193.3. Can consider long > 195 or above premarket high and fade below premarket low. In my analysis, If market remains risk-on TSLA can squeeze. Upside target 200, downside 190.