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Date: Dec 20, 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 +.4% Currencies:  USA +.2%

·         News: EUR:  German PPI -.5% m/m vs -0.3% UK: CPI y/y 3.9% vs 4.3% USA: CB Consumer confidence 10:00 ET  

·          Stocks:   FDX -11% WGO -4% GIS -3.5% EPS CRM -1% LOW -1% ZM -2% Analyst Changes
Overview: USA SPY 474 with support at 473 and 470, and resistance at 475 and 476.7, SPY expected move +/- 1.84.  QQQ 409.2 with resistance at 410, 411.5, and 415, and support at 406.8 and 405, QQQ expected move 2.5.  Global equities are modestly weak with US$ and yields indicating risk-off.  FDX earnings have shaken the goldilocks narrative and will impact UPS and potentially shippers and AMZN.  GIS pricing comments may impact other staples names.  Bitcoin and energy are the two strongest sectors premarket.  As usual with volatility low and indices extended there is risk of further selling if daily expected moves are breached, however positive gamma and seasonality may lead to buying of dips with willful ignorance of fundamentals.  Today’s daily expected move levels: SPY (476.7-473), QQQ (411.5-406.8), IWM (202.2-198.2), and SPX(4786.75-4750). 

Stocks to watch GOOGL, CRM, PARA, FDX, AMZN, GIS, UPS  

Spec Names MARA, CLSK  

Pre-800ET
Earnings FDX, WOR, GIS, WGO, SCS, TTC

Indices /btc, USO, TLT, UUP, XOP, XLE, VXX, EWZ, EEM, EFA, KWEB, ICLN, SOXX, IYZ, SMH, XBI, IWM, ARKK, XLK, XLI

S&P500 PARA, FDX, GIS, UPS, MO, PM, CRM

IWM CLSK, MARA, RIOT, FRO, MSTR, IMVT, HVN, SCS, WGO, CNK, YOU
Movers HUT, CLSK, MARA, PARA, RIOT, EXAS, FRO, MSTR, BANC, IMVT, FDX, BHVN, SCS, ROIV, WGO, GIS, UPS, DOCU, BILI, CNK, MO, LI, ZM, XPEV, EDU, CSP, PM, BABA, CRM, STLA

Trade Idea: IWM

Pre-market the IWM and ARKK are leading indicating risk-on sentiment which is supported by macro. IWM premarket high 199 can be used for a momentum long towards 200, 201 or look for a pullback >= 198. Below 198 potential fade towards 197 with major drop potential below 196.