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Date: Dec 7, 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 -.49% Currencies:  USA -.16%

·         News:   USA: UE claims 8:30ET  JPN: Comments from BOJ led to Yen spike, yields usually rise when Yen rises. Can be negative for equity due to carry trade EUR:  GDP -0.1% q/q   

·          Stocks:  DG +3.8%, CIEN +1.8%, SMTC +11%, VRNT +8.2%, GME -7.5%, CHWY -11%, AI -9.7%,  Earnings 

·         Overview: USA SPY 455.5  support 455  454 452.6, and resistance  457 460; SPY expected move +/- 2.1; QQQ 386.5 with resistance  387.9 390   and support 385 382.2, expected move 2.8. USA indices are mixed with QQQ positive and rising and IWM in the red. Global indices are weak premarket. Comments from BOJ (not action) has popped the Yen and leading to the US$ lower and resulting in a pop in commodities. Yields are higher due to the yen and are a negative for small caps and other rate sensitive equities but the lower US$ is mitigating. Higher Yen is usually a negative for equities but USA large cap indices are pinned which may mitigate the normal reaction. MAG7 are leading with GOOGL, TSLA, AMZN, the top 3. May see another day with weak breadth and MAG 7 supporting S&P500. SPX 4550 is an important level to hold for bulls today.  Watch the daily expected move levels.  Today daily expected move levels: SPY (456.9-452.6),  QQQ (387.9-382.2), IWM (187.5-180.6), SPX(4570.5-4528.1). 

Stocks to watch:   AMD, GOOGL, AMZN, DG, MSFT, TLT,

Spec Names SMTC, CERE, RIVN  

Pre-800ET
Earnings:   DG, CIEN, VEEV, CHWY, BRZE, GME, AI, VRNT, CHPT, SMTC, NAPA, CXM

Indices: USO, JETS, MSOS, GDX, EWZ, SOXX, XOP, QQQ, GLD, /btc, TLT, IWM, faangmt, UUP

S&P500: DG, GOOG, AMD, ALB, WRK, AAL, LUV, BMY, NKE,

IWM: CERE, SMTC, VRNT, SMCI, TGTX, CNX, AI, MARA, RIOT, MSTR,
Movers: CERE, SMTC, VRNT, DG, RIVN, SQM, BRZE, GOOGL, AMD, EQNR, PLTR, CIEN, ALB, BHP, RIO, BILI, QGEN, LUV, CXM, CHWY, AI, GME, CNM, RIOT, MARA, MSTR, COIN, TRMD, NKE

Trade Idea: GOOGL

GOOGL is in play with the Gemini announcement that compares favourably with Chatgpt.  Premarket 135.3 which is well above the daily and weekly expected moves. Potential for a squeeze higher but odds favor a pullback. Momentum long > 135 or look for pullback >= 133. Below 133 is a signal that the pop is being faded