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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

Color Key: Positive – Neutral – Negative

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

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields are flat

•Currencies:  US $ +.07%; $CAD +.14%

News: USA: FED raised 25bps and did not alter dot plots; Yellen commented that not working on unilateral expansion of deposit insurance; UE claims at 8:30 ET  UK: 25bps rate increase  SWISS: 50bps increase

•Stocks ACN +4.3%, DRI +1%, GIS +1%, KBH +3%, CHWY -5%, EPS TCEHY +5% earnings beat, digital ad spending provides hope for China recovery COIN -12% SEC investigation REG +8%, SNY +6.5% Positive drug trial results Usual Suspects: AAPL +.85%, GOOG +.7%, NVDA +1.9%, TSLA +2%, AMD +2%

•General: Leading:  China Internet, bitcoin, EEM, Regional Banks, Semis, and biotech 

Lagging: telecom, bonds, US$

Overview: USA indices bounce from Wednesday’s lows. SPY 394.2 has support of 393, 392, and 390 with the resistance of 395, and 400. SPY expected move +/- 3.75. QQQ 309.1 with the resistance of 310, and 315 and has support of 305, and 300. QQQ expected move +/-4.3.  Indices have bounced from Wednesday post Powell/Yellen drop with usual FAANGMT stocks and financials being bought. Financials are the key sector to watch as Yellen triggered selling with the deposit insurance comment. Potential for short squeeze if SPY > 295 and QQQ > 300 but note that FOMC is currently not planning for the rate cuts that the market wants.

Stocks to watch TSLA, NVDA, BABA, COIN, REGN   Spec Names  FRC, AI, BILI, CHWY

Pre-800ET

Earnings CHWY, ACN, KBH, CMC, DRI

Indices KWEB, /btc, EEM, KRE, SMH, SOXX, GDX, faangmt, XBI, QQQ, IYZ, TLT

S&P500 REGN, FRC, CAN, TSLA, KEY, NVDA, NFLX, LNC, AMD, FITB, AMZN, ENPH, F, MO

IWM ENVX, AI, TA, IMC, MSTR, ARRY

WSB BABA, AI, NVDA, UPST, TSLA, PLUG, MSTR, AMD, AMZN, NET, F, GME, COIN

Movers REGN, SNY, BILI, FRC, PACW, WB, CAN, BABA, WAL, JD, FUTU, ENVX, NTES, COIN, CHWY, UBS, GMI, MO, HSBC

My Trade Idea: QQQ

In my opinion, QQQ is the strongest index driven by FAANGMT which appear to be in favor premarket. QQQ straddle approach long over 310 gamma level with target 315 and fade below 308 with target 305