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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 – Neutral global set-up

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

·       Yields: 30Y Bond +.96%  Currencies:  USA$  -.6% YEN +.77% BTC/USD +.8%  Vix: 19.1

·       News:  USA: 10y bond auction 13ET; ISM services 10ET; US election  AUD: Rates 4.35% unchanged

·       Stocks:  SLAB-11%, LSCC-11%, CE-19%, JELD-22%, WYNN-1.9%, NXPI-6.4%, RACE-4%, YUMC+.9%, HIMS+7%, CMI+3.8%, GFS+11%   EPS BA strike resolved

·       Overview: SPY 571.1 with support at 570, 568.8, and 565 with resistance at 573.9 and 575 SPY expected move +/- 4.1 QQQ 487.8 with support at 485, 483.8 and 481.5 with resistance at 490 and 495 expected move +/- 4.5. USA indices are slightly higher premarket with NASI leading. GFS (semi mfg) beat EPS estimates and Speaker continued to support Chips act which is providing a boost to semi stocks. Premarket the Trump trades are leading (bitcoin, financials, TSLA, DJT) which is the opposite of Monday. SPX 5700 remains an important bull bear level with resistance 5760. Puts have built up below price which is setting up post election support at 5500. There is a large amount of hedges on for the election and when the election is eventually decided, the removal of hedges (or monetization) is what leads to a bounce which can extend into Jan. The unknown is when the election will be resolved, and at what price will the rally begin. Remember that the FOMC is meeting Thurs, which is also consequential and can lead to hedges remaining in place. Today at 13ET is a 10y bond auction and with rising yields typically an issue for equity and the economy, also an important event. ISM services 1010ET is another data point to watch as the USA is a services led economy.

Expected moves SPY(573.9-565.7) QQQ (490.5-481.5) IWM (222.2-218) SPX (5753.7-5671.7)

Stocks to watch TSLA, NVDA, IBIT, PLTR, AAPL  Speculative DJT

Pre-800ET

Indices KWEB, FXI, IBIT, SLV, GDX, ARKK, ETHE, SMH, XLK, KRE, QQQ,  MSOS, TLT, UNG

S&P500 PLTR, EMR, CMI, MPC, SMCI, DLTR, DD, TSLA, BA, CEG, EBAY, ALB, NVDA, LRCX, AMD, CE, ADM, NXPI, HOLX, WYNN, FANG, FSLR, MET, ENPH, STZ, DE, LVS

NASI GFS, DLTR, SMCI, MRVL, PDD, TSLA, CEG, ARM, NVDA, SIRI, LRCX, MU, NXPI, AZN, FANG, ILMN
Other ALAB, PLTR, GFS, DJT, HIMS, EMR, XPEV, BILI, FUTU, MSTR, SMCI, IONQ, ZTO, BABA, MARA, PDD, CE, LSCC, AZN, APLS, VKTX



 

Trade Idea: PLTR

PLTR has moved higher on an earnings beat led by higher govt spending. PLTR has moved to the expected move and will potentially short squeeze higher. Premarket high 48.9 with large call positions at 50 which can act as resistance or an acceleration level. Momentum traders can consider long above premarket high towards 50 or > 50. Pullback > 46.5 may be used for dip buyers. A break below 46 may indicate that the pop is being sold and can consider fade towards 45 and maybe lower. Stock is very expensive fundamentally.