.

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 – Negative equity global set-up

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

·         Yields: Yields are higher  Currencies:  USA +.15%  

·         News:  USA ISM PMI Monday 46 vs 47; FOMC meeting minutes at 15:00 ET; factory order 10ET    China: Caixin mfg PMI 50.5 vs 50.50; Caixin services 53.9 vs 56.2  Europe: Services PMI > 50 but declining China: Export restrictions of GE and GA used to mfg semiconductors Oil: Saudis and Russia cut oil production

·         Stocks  WOLF +16% supply deal wth Renesas RIVN +5.5% upgrade MP +9.4% Likely reaction to China move  PTGX +7.6% positive drug results  AMD NFLX upgrades

·          General: Leading: VXX, USO, GLD, UUP, XLELagging: /btc, EWZ, ARKK, EFA, KWEB, KRE, faangmt

·         Overview: USA SPY 441.7 displays support of 440, 438, and 435 and resistance at 443. SPY expected move +/- 1.7. QQQ 368 with resistance at  370 and displays support of 365, and 362 . QQQ expected move +/- 2.1.  Global indices and macro factors are not bullish with potential for trend day lower; however it is traditionally a bullish week so strong potential for a bounce once the premarket shorts are out. Caveat is that SPY 440 must hold as below it opens a gap fill to 438/435. FAANGMT weak premarket with NFLX the outperformer and TSLA in play after deliveries exceeded expectations post price cuts (margin not relevant:)

·         Stocks to watch  NFLX, WOLF, MP, RIVN, DVN, COIN, JPM     

Spec Names  PTGX, RIG 

Pre-800ET
Earnings 

Indices VXX, USO, GLD, UUP, XLE, /btc, EWZ, ARKK, EFA, KWEB, KRE, faangmt

S&P500 MRNA, NFLX, DVN, JPM, NVDA, MSFT, PYPL

IWM PGTX, FRO, RIOT, MARA, JOBY, IONQ, ENVX

WSB RIVN, AMD, RIOT, COIN, MSTR, NIO, UPST, AFRM, NVDA, UBER, CLF

Movers WOLF, MP, PTGX, RIVN, AZN, BAK, HTZ, CPRX, MRNA, NFLX, RIOT, MARA, DB, COIN, CRH, X, MSTR, MT, STM, PDD, AI

Trade Idea: RIVN

In my opinion, RIVN is a potential squeeze idea with an upgrade today. Premarket high is 21.2 which can be used for a momentum long or a pullback >=20 for a buy the dip.