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Date: Dec 12, 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 – Neutral  equity global set-up

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

·         Yields: 30Y Bond +.6% Currencies:  USA -.35%

·         News:   USA: CPI 830ET; 30y bond auction 13ET  JPN: PPI 0.3# y/y  EUR:  German ZEW sentiment 12.8 vs 9.6 

·          Stocks:   ORCL -9.7%, JCI -0.6% Earnings SONO +4%, ALB +1% Upgrade
Overview: USA SPY 462.7 support 460 458 455 and resistance 461.5 465,     SPY expected move +/- 2.88, QQQ 396.68 with resistance 399 400 and support 395 392  expected move 3.44.  Premarket is positioned for CPI print to be positive for markets with yields lower, US$ higher, and equities higher. Equities are led by speculative tech and high short interest which is a clear risk-on. Index rebalance and reduction of MAG7 concentration weighed on MAG7 Monday and led to outperformance of laggards. MAG7 are led by AMZN and with GOOGL lagging. In today. Risk today is a hot CPI or a poor bond auction.  Watch the daily expected move levels.  Today daily expected move levels: SPY (464.87-459.1),  QQQ (399-392.1), IWM (191.6-182.8), SPX(4651.2-4593.6). 

Stocks to watch: ALB, COIN, SQ, AMZN, ARKK, GOOGL, ORCL,       Spec Names: RIOT  

Pre-800ET
Earnings:   ORCL, JCI, CONN, CASY, UEC

Indices: /btc, TLT, ARKK, GDX, KWEB, XBI, GLD, euro, QQQ, IWM, XLY,   USO, UUP, LIT, ICLN, VXX, IGV

S&P500: ALB, ORCL, HAS, ABNB, RTX, ILMN 

IWM: SONO, BRP, BMBL, MARA, RIOT, MSTR, CROX, FRO
Movers: LSXMK, SGEN, MARA, RIOT, COIN, RIO, CVNA, MT, HOOD, AZN, U, UPST, AFRM, STLA, IONQ, ORCL, HAS, FSK, M, ABNB, NVO, FRO, RTX, ILMN

Trade Idea: ORCL 

ORCL is pulling back post earnings and has moved more than the expected move. Straddle approach to trade continuation lower or a bounce. Premarket low 103.6.  Fade below 103.5 with target 100 and > 105 potential bounce with target 107 and > 107 potential for continuation higher.