.

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 – Neutral global set-up

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

·         Yields: 30Y Bond +.0%  Currencies:  USA$  -.06% Vix: -.2%

·         News:  USA: Philly Fed, UE claims 830ET; FOMC speakers 915ET; Existing home sales 10ET
Stocks: DHI +2.2%, ALK +1%, TSM -1%, BX -1%, LVS -3%, INFY -8%, KEY -1%,   EPS 

·         Overview: USA SPY 501.8 support 500 495  and resistance 505.9 510, SPY expected move +/- 5.3. QQQ 426.9 with resistance  430 435 and support 425 421.6 ; expected move +/-4.2.  USA indices are relatively unchanged with some weakness into SPX AM settlement. SPX is short term technically oversold with market makers negative gamma which can result in large moves in either direction. SPY500 and SPX5000 are major option levels with risk of larger moves on breaches. TSM earnings takeaway is weakness in smartphone (QCOM, AAPL, SWKS) and strength in high performance computing (NVDA) and hope that there is a pick-up H2-2004. DHI earnings positive for home builders, Miners bid with copper new highs (FCX), AA higher with lower loss than expected. INFY large drop is a red flag for tech as they provide consulting resources. Today’s daily expected move levels: SPY (505.9-495.3)  QQQ (430-421.6), IWM (196.8-189) SPX(5075-4929). 

Stocks to watch: NVDA, FCX, DHI, AA, TSM, AAPL, TSLA, LVS,

Spec Names: EH, MSOS

Pre-800ET
Earnings: BHP, CSX, KMI, LVS, DFS, AA, SNV, OZK, REXR, TSM, BX, ELV, MMC, INFY, DHI, NOK, ALLY, KEY, ALK
Indices: BITO, FXI, COPX, GDX, KWEB, IWM, QQQ, SPY, SMH, EFA, VIX, UUP
S&P500: EBAY, DHI, CF, FCX, CSX, MU, NVDA, MMC, HAL, ETSY, LVS, DHR, TSLA, MTCH, CTSH, KEY, ON, TXN
Movers: ZS, CVNA, DT, AA, ZM, EH, LI, COIN, MT, CLSK, PAAS, TGTX, ALK, MSTR, INFY, RTO, BHVN, TS, TSM, EQNR, S 

Trade Idea: TSM

TSM lower on earnings with forecast range that straddles estimates. Relatively small move lower with expected move low 130. Premarket low 134 can be used for a fade trigger with 130 target.  Bounces up to 140 are potential fades on rejection. Over 141.5 can be a potential long. Forecast from TSM is bearish for smartphones and bullish for high performance computing.