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Date: Nov 29, 2023 

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

** ‘d’ – day

**govt – government 

Color Key: Positive – Neutral – Negative

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

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

·         Yields: 30Y Yields -1% Currencies:  USA +.09%

·         News:   USA: GDP 830ET, Beige Book 14ET EUR: Spanish CPI 3.2% y/y; German 10y yields fell 

·          Stocks:  WDAY +8%, CRWD +2%, NTAP +10.8%, FLNC +16%, FL +8.7%,  DLTR -1.9%, HRL -2%     Earnings moves  GM +9% revised guidance accelerated buybacks
Overview: USA SPY 457.2  support 455 450   and resistance  456.15 460   SPY expected move +/- 1.86   QQQ 392.8 with resistance  392.5 395  and support   390 387.2, expected move 2.29.  USA indices are rising  premarket along with global indices ex-China into the GDP print.  SPY and QQQ are short term technically extended and above the daily expected move which can lead to a trend day higher or a drop depending on the GDP print. Macro setup is mixed with long yields lower and US$ higher.  Waller comment Tues popped the market and bond auction dipped it so market is very sensitive to rate expectations and hence GDP print today is important. Premarket, the casino is open with small caps, tech and energy bid.  Mag7 are led by TSLA with caveat that it’s at the top of the weekly expected move with potential for surge higher or pullback. Today’s daily expected move levels: SPY (456.8-453.1)  QQQ (392.5-38.9), IWM (180.8-175.3) SPX(4573.8-4536). 

Stocks to watch:   TSLA, NVDA, GM, WDAY, NTAP,    LVS, DLTR, BABA   Spec Names: GME, MARA, FL 

Pre-800ET
Earnings:   INTU, WDAY, ANTCF, CRWD, SPLK, HPE, NTAP, DLTR, HRL, OKTA, DCI, BILI, FL, WOOF, FTCH, FLNC,

Indices: USO, ARKK, IWM, SOXX, SMH, XBI, KRE, ARKF, XLY, XLE, QQQ,  KWEB, VXX, EEM

S&P500: NTAP, GM, PSX, F, WRK, WDC, CRM, TSLA, PYPL, NKE, PYPL, AMD, CCL, LVS, PCG, DLTR, HRL 

IWM: FLNC, FL, NOVA, LMND, IONQ, RIOT, MARA, CROX, AI, SMCI, CELH, MSTR, FRO
Movers: FLNC, GME, NTAP, FL, WDAY, GM, PSX, STLA, F, LMND, CVNA, MT, U, PATH, SNOW, IONQ, BILI, PHG, LVS, BABA, JD, LI, DLTR, NEM,

Trade Idea: TSLA

TSLA has popped to resistance at 250. Market is risk on and one can consider a straddle approach with long > 250.5 with targets 252.5  255 and fade < 249 with targets 247.5 and 245