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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

** ‘Y’ – year

**govt – government 

Color Key: Positive – Neutral – Negative

Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – Positive equity global set-up

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

·         Yields: 30Y Bond +.5% Currencies:  USA  -.6%

·         News: USA: PMIs 945ET  EUR: MFG PMI 46.6 services 48.4  CDN: BOC decision
Stocks:   NFLX +9.8%, ISRG +4.5%, EDU 9.7%, ASML 5.8%, eps   TXN -3%, T -3.3%, EPS DD -11%, sales warning EBAY +3.9% layoffs

·         Overview: USA SPY 487.8  support 485 483  and resistance 4857 490.  SPY expected move +/- 2.1  QQQ 427.3 with resistance  427 430 and support  425 420 ; expected move 3. Market is risk-on in premarket with USA large cap indices above the top of the daily expected move which can lead to a strong trend day higher or a pullback. Macro catalysts are a sharply lower US$ and lower long yields Which may change at 945ET with the release of USA data. If the risk-on state continues, look for outperformance by small caps, profitless tech (ARKK), cloud software, biotechs. NFLX, SAP< ISRG are potential runners with price moves > expected moves. TSLA earnings after close should lead to action today and NFLX move may shake conviction of the shorts.   Today’s daily expected move levels: SPY (486.9-482.8),  QQQ (426.5-420.5), IWM (199.5-192.4), SPX(4885-4843). 

Stocks to watch: NFLX, SAP, EDU, AMD, TSLA, AU,  TXN, DD, T, ABT, Spec Names SMCI,  

Pre-800ET
Earnings: NFLX, CNI, ISRG, EDU, TXT, ELV, ASML, FCX,   TXN, T, KMB,

Indices: KWEB, /btc, FEZ, EEM, ICLN, ARKK, EWZ, GDX, IWM, SMH, ARKF, EFA, XBI, VXX, UUP

S&P500:  NFLX, ISRG, EBAY, WDC, LRCX, NOW, AMAT, AMD, FCX, ENPH, PYPL, TSLA,  DD, KMB, T, TXN, ABT, DOW, BIIB, DOW
Movers: TAL, NFLX, EDU, SAP, AU, ASML, GFI, BILI, ISRG, RIOT, DD, DWAC, KMB, T, TXN, ABT, DOW, W 

Trade Idea: NFLX

NFLX has moved > expected move on earnings. Premarket high 545.7, expected move 530. While above 530 dips may be bought. Above 545, 550, 560 are potential targets. Should 530 be breached it’s a signal that the pop is being sold.