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Date: Dec 22, 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 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 +.55% Currencies:  USA -.28%

·         News:   CDN:  GDP 830ET UK: GDP -.1% m/m USA: Core PCE, Durable goods 830ET; UofM Consumer Sentim 10ET  

·          Stocks: NKE -11% Weak forecast. Impact CROX, ONON, LULU, FL.
Overview: USA SPY 472.7 with support at 470 and 465, and resistance at 475, SPY expected move +/- 2.9.  QQQ 407.7 with resistance at 410 and support at 405, QQQ expected move 3.1.  USA indices dipped post close and are currently rising with European open to flattish.  Macro set-up is bullish with yields & US$ lower but equities are not reflecting.  PCE and consumer sentiment may be market moving so take care.  NKE forecast will weigh on footwear and other consumer discretionary.  MAG7 are mixed with TSLA leading.  Semis continue to be bid with ARM and AMD bid. China names are hit hard with China government regulating spending on gaming affecting NTES and TCEHY but the entire sector is lower.  Gold and miners are making a large move NEM AGI. The Red Sea is boosting shippers ZIM.  Low volume likely today so market susceptible to large late in the day moves due to 0DTE option manipulation so take care. Today’s daily expected move levels: SPY (475.6-469.8), QQQ (410.9-404.7), IWM (202.2-197), and SPX(4775.6-4717.9). 

Stocks to watch TSLA, NEM, AGI, ZIM, FRO, NKE, NTES

Spec Names HIVE, MARA, CLSK  

Pre-800ET
Earnings NKE 

Indices GDX, XBI, GLD, USO, EWZ, TLT, XLE, XME, euro, KWEB, XRT, EEM, /btc, XLY, JETS, UUP

S&P500 ANSS, NEM, NKE, LULU, TTWO, EA, VFC

IWM MARA, FRO, RIOT, FL, CROX
Movers ANSS, MARA, LITE, MP, ZIM, FRO, AGI, GOLD, GFI, NEM, TRMD, CLSK, AA, HUT, NTES, TCEHY, NKE, TAL, BILI, FL, EDU, ONON, DKS, U, RBLX, CROX

Trade Idea: NKE

NKE has moved > expected move (+/-7.8).  Premarket low 106.7 can be used for momentum short.  Potential bounce > 110 with expectation that bounces can be used for short entries.  Bounce > 115 may indicate that bounce will not fail.