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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 – negative global set-up

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

·       Yields: 30Y Bond +.17%  Currencies: USA$ +0.3% CAD +.04% YEN+.48%  BTC/USD -4% Vix: 19.8

·       News:  USA: Biden WH is proposing a new AI framework for exporting chips that can be used to develop AI. Major impact on semi companies premarket with NVDA pushing back strongly. Not enforceable for 120d hence Trump can change it. Retail: LULU and ANF released positive xmas retail data indicating consumer is still spending 

·       Stocks: NVDA -3% TSM-3% AVGO -2% Reaction to latest USA chip export restriction cunning plan LULU+2.9% they bought yoga pants UNH+2.9% upgrade MRNA-19%  less vaccines sold  
Overview: SPY 576.7 support 575 and resistance 577.7 580 582.4 585  SPY expected move +/- 4.7 QQQ 502.4 with support 500 resistance 505 510 512.5 expected move +/- 5.3.  USA indices sold down overnight and have bounced premarket off the SPY and QQQ put walls. Market concerns are the rise of long term yields and strength of the US$. CPI data this week along with financial earnings this week and upcoming inauguration are adding to the uncertainty and risk. Today’s hand grenade is a WH proposed policy to limit semi sales to not just China but other countries. Impacting NVDA and other semis hence affecting the QQQ. Will not be in force for 3m so stay tuned. Energy continues to surge on cold weather and more USA sanction shenanigans. Energy stocks are continuing to be strong with caveat that natgas and oil are getting stretched. Healthcare sector is starting to perk-up so a sector if looking for longs. MAG7 are generally weak with NVDA and TSLA leading to the downside. AAPL is lower on a report of losing market share in China. Remainder of MAG7 are inline with QQQ. Bitcoin weaker with low of 90520, potential for a breakdown < 90k.  S&P is risk-off at present with a small bounce in the NY premarket. SPY 575 is the put wall and above bounces are playable to levels discussed above with a break below 575 a fade opportunity.
Expected moves SPY (585.2-575.8) QQQ (512.5-501.9) IWM (219.3-214.3) SPX (5874-5780)

Stocks to watch USO, UNH, LULU, OXY, NVDA, AVGO, IBIT, AAPL,TSM, MRNA Speculative ITCI, MARA

Pre-800ET
Indices UNG, USO, US$, XLE, FXI, KWEB, TLT, ETHE, IBIT, SMH, SLV, ARKK, IWM, XLK, IGV, QQQ

S&P500 DXCM, HUM, CVS, UNH, LULU, AEP, PCG, OXY, DVN, COP,  MRNA, EW, PLTR, SMCI, NVDA, TSLA, MU, AVGO, DELL
Other ITCI, RUM, FRO, NTES, X, AEO, ANF, IONQ, TEM, SMR, CLSK, RIOT, MSTR, MARA, LUNR, COIN, OKLO, TSM

Trade Idea: NVDA

NVDA is lower on the latest USA govt policy proposal to limit chip sales which would not be enacted for 120d. NVDA is extended to the downside and approaching 130, which is a major option level.  Below 130 NVDA next big level is 125. Potential bounce at 130 with a move to 135.