.

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

Color Key: Positive – Neutral – Negative

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

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

•Yields: Yields are higher

•Currencies:  US $ -.04%; $Yen -.5%, $UK +.6%

News: USA: JOLTS, Factory Orders at 10:00 ET; FOMC Cook at 13:30ET; Atlanta FED GDP Tracker -50%
•Stocks ETSY 3.9%, NOW +3.3%, CRBG +2.2% upgrade AI +2.6% Squeeze;  BFLY +22% FDA approval; AYI -4% EPS

Usual Suspects: FAANGMT all positive led by TSLA and AMZN on low volume

•General: Leading:  Oil, QQQ, Energy, Small caps Lagging: Bonds, Gold, Emerging Markets

Overview: USA higher overnight post European open. SPY 412 displays a support of 410, 408, and 405 with resistance of 415. SPY expected move +/- 2.0. QQQ 321 displays resistance of 325, and 330 and support of 320, and 315. QQQ expected move +/-2.4.  Indices are extended premarket hence a pullback would be normal. DTE option trading continues to drive markets independent of fundamentals with pattern of late day buying to watch out for.  JOLTS data at 10:00 ET may be a catalyst for market moving today.  Rising yields and VIX premarket is a caution signal.

Stocks to watch ETSY, MRO, TSLA, MGM, NVDA, TLT  Spec Names AI, BFLY

Pre-800ET
Earnings AYI

Indices USO, QQQ, XLK, XLE, IWM, SMH DIA, TLT, GLD, GDX, EEM, ICLN

S&P500 ETSY, MRO, TSLA, AMZN, OXY, MRM, VNO

IWM AI, FSLY, CPRX, FRO

WSB AI, COIN, PLUG, AFRM

Movers ETSY, SSYS, AI, CRBG, MGM, COIN, PLUG, SE, TTD, FSLY, TSLA, MRO, WOLF, ZIM, BILI, XPEV, EQNR, VOD, TTE, LI, FRO

Trade Idea: INTC

Intel has been outperforming post it’s investor meeting. Possibly due to higher short interest or a rotation into “value”. Low PE name with high dividend. In my opinion there is a potential for pullback after sharp rise but broken out on the weekly chart.