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Date: Dec 4, 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 – Slight negative equity global set-up

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

·         Yields: 30Y Bond -.24% Currencies:  USA +.11`%

·         News: USA: Factory orders 10:00 ET EUR: Swiss CPI 0.2% m/m China: Caixin Services PMI 20:45

·          Stocks: UBER +4.2%, BLDR +2%, JBL +2% Added to S&P500.  BTBT +9.8%, MARA 14.5%, RIOT +12%, MSTR +8.6%, BITO +8%, GBTC +5.8%, COIN +9%, HOOD +4%, Bitcoin euphoria, SPOT +3.5%, cutting 18% of staff; ALK -12% buying HA +179%
Overview: USA SPY 457.7 with support at 456.7 and 455, and resistance at 458 and 460.  SPY expected move +/- 2.4.  QQQ 388.4 with resistance at 390, 392.5, and 395, and support at 388.2, 386.75, and 385, expected move 2.65.  USA indices are lower, digesting Friday post Powell squeeze.  Macro setup is negative with long yields higher and US$ higher. USA indices are divergent with Russell 2000 +.6%, and Nasdaq -.37%, and ARKK +1%.  Friday the most shorted stocks outperformed, and it is setting up like that premarket today but take care as the macro is not supportive. MAG7 are down premarket which may continue into today’s session with META and GOOGL most at risk. Bitcoin euphoria is strong today and bitcoin related stocks are very extended so take care. Solar names are outperforming potentially continuing trend of laggard/shorted stocks getting bid. Notable is SEDG up on being dropped from S&P500. Watch the daily expected move levels.  Today’s daily expected move levels: SPY (461.5-456.7), QQQ (392.6-387.3), IWM (187.1-182.7), and SPX(4618-4571). 

Stocks to watch SPOT, FSLR, COIN, UBER, CCJ, ALK, GOOGL, META, TSLA     

Spec Names RIOT, MARA

Pre-800ET
Earnings SAIC 

Indices /btc, LOK, JETS, ARKK, IWM, TAN, VXX, UUP, ICLN, KWEB, USO, EWZ, EFA, faangmt, EEM, MSOS, XLK, XLE

S&P500 FSLR, ENPH, PODD, GM, ALK, LULU, FCX

IWM MARA, RIOT, MSTR, SAVE, FLNC, NOVA, TRUP
Movers MARA, VKTX, RIOT, MSTR, COIN, CVNA, CCJ, SAVE, UBER, FSLR, ENPH, FLNC, GME, SPOT, JBL, BLDR, ALK, TRUP, ALC, AU, EQNR, SE, RIO, BABA, LULU, CNHI

Trade Idea: GOOGL

GOOGL is the weakest of the MAG7 and pulling back premarket. 130 is a bull/bear level with high put open interest providing a bounce or break down level. > 130 potential bounce towards 132 135 and < 130 target 128, 125.