.

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

Market Setup- Pre-7:30 ET 

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 -.04% 

·         News: USA : PPI at 8:30 ET; UofM Consumer Inflation Expectations at 10:00 ET  China: New loans sharply lower UK: GDP GDP m/m 0.5% vs 0.2%

·         Stocks: Earnings: IONQ +8%, WPM 0%, ACHR +21%, INOD +24%, ETON +29%, CANO -48%, MAXN -26%

·         Overview: USA SPY 445.7 displays support of 445, 440 and resistance at 450, 452 ,455 and 460. SPY expected move +/- 2.7 QQQ 368.2 with resistance 370, 375, 380 and displays support of 367, 365. In my opinion, QQQ is expected to move +/- 2.8.  Global indices are lower on weak China data. USA indices are subdued waiting on PPI data. Macro setup is slightly negative with long yields higher, but US$ slightly lower. PPI print premarket will potentially be market moving as will consumer sentiment at 10ET. Indices are negative gamma which can lead to larger moves. Indices remain bearish with SPY at 445 a key support level and 452 resistance. There is a potential for a strong move post PPI and late day move with Aug Opex.

·         Stocks to watch TWLO, W, VFC, NVDA, TSLA, BABA   

Spec Names IONQ, AAOI 

Pre-800ET
Earnings WPM, IONQ

Indices  USO, ARKQ, GLD, XLU, GDX, IWM, DIA, KWEB, EEM, VXX, SMH, LIT, SOXX

S&P500 EBAY, VFC, RMD, LHX, GM, CSCO, SEE, FCX, SWK, WEC, VTR, UPS, NVDA, TSLA, ROK, MSFT, AMZN

IWM ACHR, IONQ, JOBY, DOCN, LAZR

WSB 

Movers UBS, W, TWLO, RIVN

Trade Idea: CSCO
CSCO is reporting earnings next week and is currently at the high of the year. Call buyers are targeting 55 strike next week. Momentum breakout > 53.7 or pullback > 53 for a long into earnings trade. Note market was weak premarket and would need to see SPY bouncing to take a long with confidence