.

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 Negative equity global set-up

·         Commodities:  Gold, Silver, Oil and natgas, Softs, Industrial Metals 

·         Yields: Yields are higher

·         Currencies:  US $ +.35%

·         News: USA: Flash PMI at 9:45 ET; New home sales, Richmond MFG 10:00 ET;  Canada: IPPI RMPI 8:30 ET  Europe: MFG PMI 44.6, Services PMI 55.9 UK: MFG PMI 46.9 Services PMI 55.1

·         Stocks YELP +10% activist chatter ; ZM -2.3% Earnings; DKS +2.9%  EPS; IONQ +2.5% Quantum Computing next meme?; LOW -1% -guidance

·         General: Leading: /btc, USO, XLE, UUP, XOP, faangmt   Lagging: KWEB, EFA, GDX, EEM, GLD, LIT, euro, XLB

·         Overview: USA SPY 417.7 with support 417.3, 415, 412.35, 410, and 405 and resistance 420. SPY expected move +/- 1.9. QQQ 336.7 with resistance 338, 340 with support at 335, 330, and 325. QQQ expected move +/- 2.6. Macro setup is negative with yields higher, US$ higher and global equities weak.  S&P500 has been downtrending since at 21ET Mon with support at 417.3. Dark pools have been selling 418.8 which is a level to watch on bounces. Mild bearish setup but still seeing signs of short covering which can support markets. MSFT and NVDA may be used to support Nasdaq today. Financials may get a bid to support S&P along with energy. IMO the move in yields is concerning and can lead to equity weakness at some point.

·         Stocks to watch DKS, ZION, NVDA, SCHW, LOW, ZM, BABA     

Spec Names  AI, IONQ, RXDX, MYGN, PLTR 

Pre-800ET
Earnings BJ, DKS, KC, LOW, SDRL, VIPS, WSM, ZM

Indices /btc, USO, XLE, UUP, XOP, faangmt, KWEB, EFA, GDX, EEM, GLD, LIT, euro, XLB

S&P500 ZION, CMA, KEY, AIG, SCHW, USB, STLD, LOW, NEM, MRNA, AAP

IWM YELP, IONQ, MYGN, RXDX, AI, RIOT, MSTR, BE, SSTK, NNOX,

WSB RIOT, PLTR, AI, BABA

Movers YELP, IONQ, WAL, RXRD, FHN, ZION, RIOT, DKS, PLTR, BE, SCHW, KEY, GH, ZIM, LI, AU, JD, WPM, PERI, BHP, NVO, PDD, BABA, PDD, STLA, NEM 

Trade Idea: IONQ

In my opinion, IONQ is a high option activity name in the Quantum Computing space. In my analysis, Premarket high 11.87 can be used for a momentum long with target 12.5.  Short term support 10.5 and longer support at 10.