.

Color Key: Positive – Neutral – Negative

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

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

·        Commodities:  Gold, Silver, Oil and natgas, Softs, Industrial Metals 

·        Yields: Yields are higher

·        Currencies:  US $+.03%

·        News:  USA: Powell 10 ET CDN: Retail sales 8:30 ET UK: CPI 8.7% y-y above expectations

·        Stocks FDX -2.5% EPS WGO -4.7% EPS TSLA +0.5% momo ADBE +1.3% upgrade EXAS +6% Cologuard results
COHR -5% downgrade

·        General: Leading: Bitcoin, Spec tech, Regional banks, Energy Lagging: Volatility, China Internet, FAANGMT 

·        Overview: USA SPY 436.6 displays a support level of 436,435, and 430 with resistance of 440 and 445. I expect the SPY to move +/- 1.9. The QQQ 365 shows a resistance of 370 with a support level of 365 and 360. In my analysis, I think that QQQ is expected to move +/- 2.6.  USA indices are slightly negative with Nasdaq lagging, with FAANGMT weak, and with TSLA and AMZN positive. I believe there is strength in bitcoin and spec tech, suggesting potential for outperformance with the caveat that Powell speaking today at 10 ET will be market moving. The markets remain stretched, but I want to be prepared for a potential squeeze up or down post Powell’s speech. The SPY 435 is at an important support level with FAANGMT the critical names.

·        Stocks to watch PYPL, PBR, EXAS, GNRC, TSLA, AMZN, COIN, FDX, WGO, AMD Spec Names RIVN, RIOT, COHR

Pre-800ET
Earnings FDX, WGO

Indices /btc, BLOK, ARKK, XLY, KRE, XLE, EFA, VXX, KWEB, EEM, FAANGMT, ICLN, USO, XLK, QQQ

S&P500 ADBE, TSLA, FDX

IWM ABR, MARA, RIOT

WSB RIOT, COIN, RIVN, TSLA, UPST

Movers EXAS, ABR, MARA, RIOT, LI, COIN, MANU, XPEV, SPOT, ADBE, RIVN, PBR, NTES, TSLA, UPST, CVNA, COHR, FDX, BILI, BHP, RIO, EQNR, PDD, INFY, JD

Trade Idea: GNRC

GNRC broke out Tuesday with power disruptions in Oklahoma and other states. In my opinion, the premarket high of 129.6 can be used for a momentum long with 130 as an important level to watch. I will watch for a pullback > 125 which can be used for a safer entry.