.

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

Market Setup- Pre-730ET Pre PCE

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 +.48%  Currencies:  USA$ -.58% CAD +0% YEN+1%  BTC/USD -2.7%  Vix: 15.4

·       News:  USA: GDP. Durable goods 830ET Chicago PMI 945ET PCE 10ET  NZ: 50bps rate cut JP: Chatter that BOJ will increase rates is boosting Yen

·       Stocks: AMBA+20%, URBN+11%, NTNX+5.%, DELL-11.5%, WDAY-10.4%, HPQ-8%, ADSK-7.3%, CRWD-1.7% Earnings QCOM-.5% Xiaomi developing chip to replace QCOM; NVDA-1.1% potentially reacting to DELL earnings 

Overview: SPY 600.6 support 600 598 and resistance 603  SPY expected move +/- 2.6 QQQ 508.7 with support 506 505 500  resistance 510 513 expected move +/- 3.4. ** GDP 2.8% inline, GDP price index 1.9% vs 1.8% Durable Goods 0.2% vs 0.5% Core PCE prices 2.1% ** USA indices are mixed with IWM strong, S&P flat and Nasi down slightly. US$ is lower with Yen up on potential rate increases and Euro higher on end of month flows. Long yields lower can boost small caps. China stocks are leaders perhaps due to lower US$. MAG7 are led by TSLA with NVDA lagging. Large cap tech names are lower post earnings which is weighing on software and QQQ. DELL, ADSK, HPQ, WDAY have fallen by more than the expected move and can continue lower. CRWD fell on weak guidance but they are buying the dip since it’s a space they like and earnings don’t matter. Bitcoin is higher today so the cadre are all bid (MSTR MARA IBIT …).   Today’s rotation looks like small caps, homebuilders, solar, financials i.e. beneficiaries of lower yield and some short covering. The PCE release at 10ET will be market moving but there was a core PCE release at 830ET that was lower hence the 10ET print could be lower which may continue the premarket trend. Thanksgiving is usually a bullish week and traders are loaded with calls as everyone know it so still expecting dips to be bought cautious for reaction should SPX6000 be reached.

·       Expected moves SPY(603.25-598) QQQ (512.7-506) IWM (242.6-238.6) SPX (6047.6-5995.6)

Stocks to watch IBIT, TSLA, URBN, FUTU, AMBA, NTNX, NVDA, DELL, WDAY, HPQ, ADSK  Speculative AMBA, MSTR, SYM

Pre-800ET
Indices ETHE, IBIT, KWEB, FXI, GDX, USO, KRE, IWM, ARKK, GLD, TLT, XBI, UNG, SMH, XLK, UUP, SLV, IGV, QQQ

S&P500 SMCI, UBER, PLTR, DELL, HP, CRWD, CRM, NVDA, MU

ALL URBN, MSTR, FUTU, BILI, JD, BTDR, CLSK, LI, MARA, BEKE, PDD, COIN, BABA, SYM

Trade Idea: CRWD

CRWD fell post earnings on lower guidance than expected but is currently bouncing premarket as street favors security sector. The 360 level is a major gamma level and if CRWD is above it can be a long and indicative that the dip is being bought but while below potential reversal trade.