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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 –  Negative equity global set-up

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

•Yields: Yields are higher

•Currencies:  US $ -.03%; $Yen -.59%

News: Europe: German biz climate 93.3 vs 91.1; BOE Baily at 13:00 ET

•Stocks FRC 24.9% BAC +2%  Banks bouncing; PINS +4%, SQ +2%, ROKU +3% Upgrade;Positive drug trial results  Usual Suspects: FAANGMT: AMZN +.75%, TSLA +1.68%, AAPL -.19%, MSFT +.07%

•General: Leading:  Regional Banks, Spec Tech, Financials, and Energy  Lagging: China Internet, gold miners, and bonds

Overview: USA rising since European open as financial concerns diminish with SVB accounts sold. SPY 398 has the support of 395, and 390 with resistance at 400, and 405. SPY expected move +/- 3.2. QQQ 311 with resistance at 315 has the support of 310, 305, and 300. QQQ expected move +/-2.9. Indices are positioned risk-on with rotation (short covering) into small caps, financials and energy. Safety trade [gold, bonds, yen] unwind at least for today. No major news scheduled so 0DTE traders are in charge and may try to squeeze shorts. Risk is unscheduled news regarding financials with FOMC no longer in quiet period or warnings from companies ahead of earnings

Stocks to watch BAC, ENPH, ROKU, PINS, SQ, SCHW, TSLA, AMZN, HAL, AAPL  Spec Names AI, BBIO, FRC, ABR

Pre-800ET

Earnings CCL

Indices KRE, ARKK, XLF, USO, IWM, XLE, XOP, XBI, XLY, XLB, KWEB, GDX, GLD, TLT, EEM, UUP

S&P500 FRC, KEY, CMA, ZION, RF, USB, CFG, SCHW, BAC, GLW, MET, TSLA, ENPH, HAL, NEM, CAT, MRNA

IWM UNFI, ABR, AI, HOMB, JXN, ENVX, BBIO, FSLY, SMCI

WSB AI, PLUG, UPST, TSLA, AFRM, RIVN, COIN, CCJ, F

Movers FRC, KEY, SGFY, PINS, ROKU, SQ, GLW, TWLO, DKNG, SNAP, U, ENVX, TSLA, BNTX, JD, GOLD, BIDU, NEM, BEKE

My Trade Idea: IWM

In my opinion, IWM is a potential bounce trade with exposure to regional banks and energy. In my analysis, premarket high 174.4 can be used for a momentum long with target 175, and 177.5 or pullback > 173.5. Expected move today +/-2.2. 175 key level to break above with squeeze potential