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Date: Jan 2, 2024 

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 – Negative equity global set-up

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

·         Yields: 30Y Bond -1.2% Currencies:  USA +.6%

·         News:   Japan:  Earthquake and plane collision China: Official mfg PMI fell for third straight month

·          Stocks:  AAPL -2.4% downgrade ASML -3.6% Some shipments to China limited by Dutch govt requested by USA
Overview: USA SPY 472.2 with support at 470 and resistance at 473 and 475; SPY expected move +/- 2.2.  QQQ 404.5 with resistance at 407 and 410, and support at 405; QQQ expected move 2.4.  Global indices are risk-off with US$ and yields sharply higher to start the year.  USA indices are all below the lower daily expected move which can lead to further declines.  Nasdaq is the weakest USA index on back of AAPL downgrade and semi weakness potentially due to ASML shipment restrictions or profit taking.  QQQ 405 is a gamma level and can be used as a bull bear level. SPY 470 is a major bull bear level.  Bitcoin, energy and shippers are the positive leaders and semis/solars are the negative leaders.  Expecting a bounce at the open and important for indices to move above the bottom of the daily expected move in today’s trading. Today’s daily expected move levels: SPY (477.5-473), QQQ (411.9-407), IWM (202.9-198.6), and SPX(4792-4747). 

Stocks to watch XLE, GDX, AAPL, INTC, AMD

Spec Names MARA, HUT, MSTR, CLSK   

Pre-800ET
Earnings   

Indices /btc, VXX, USO, XOP, XLE, UUP, BLOK, GDX, GLD, DBC, KWEB, SOXX, TAN, SMH, XLK, EFA, TLT, ITB, KRE

S&P500 CTRA, SLB, OXY, HAL, AAPL, INTC, AMD, CCL, ON, AVGO, LUV, QCOM, BA, MU, ENPH, ABNB, WBD, AMZN, NFLX, F, CRM, VFC, TSLA, META, GOOGL

IWM MARA, CLSK, RIOT, MSTR, FRO, CNX, SM, CELH, CORT, PNM, CNK, RDFN, SMCI, NOVA, BE, IONQ, AI
Movers MARA, CLSK, FRO, CNX, CTRA, SBLK, WDS, CORT, PNM, LI, U, UPST, FUTU, ASML, JD, RTO, CNK, RUN, INTC

Trade Idea: AAPL

AAPL has moved lower than the daily expected move after the Barclay downgrade.  Below 187.5 potential fade to 185 and lower.  Above 187.5 look for 190 and 192.5. Bounce on the open, look for a fade if < 190.