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Date: Nov 9, 2023 

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

**govt – government 

Color Key: Positive – Neutral – Negative

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

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

·         Yields: Yields flat Currencies:  USA +.20%

·         News:  USA: UE claims 8:30 ET; 30Y Bond auction 13:01 ET Powell 14:00 ET  China: CPI -.2% Y/Y PPI -2.6% y/y
Stocks: AFRM +12% AZN +2.3%BE +18% DUOL +7.7% HUBS +6.5% NTRA +5.5% RAMP +13% LI +2.7% MT +.6%   IONQ -5% MODG -20% BDX -2.5% SONY -1.5%  Earnings reactions NVDA +1.5% China chip mark 2 coming
Overview: USA SPY 438.3 with support at 435 and 433.5, and resistance at 440.  SPY expected move +/- 2.37.  QQQ 373.3 with resistance at 373.9 and 375, and support at 372 and 370.  QQQ expected move +/- 2.8.  Unusual premarket set-up with USA indices led by small cap strength, QQQ flat with long yields, US$ and Oil higher which is normally bearish.  My rationale is hedge fund deleveraging which can lead to short covering and subdued blue chips.  Potential to continue for the day; however, one must be cautious as the macro is not aligned with the equity markets.  UE claims at 830 may be significant today.  SPY 435 is an important reference level and SPX 4300 a major bull/bear level and SPX4400 resistance.  Top sector etfs: IPOs, airlines, spec tech, retail, energy.  Today’s daily expected move levels: SPY (439.6-434.9), QQQ (375.8-370.1), IWM (172.3-167.5), and SPX(4406.6-4359). 

Stocks to watch NVDA, DIS, AFRM, NFLX, COIN, UAL, BDX, TSLA, AAPL     

Spec Names DUOL, IONQ

Pre-800ET
Earnings AFRM, AMC, BE, HUBS, NTRA, RAMP, AZN, LI, MT, FICO, IONQ, BDX, SONY

Indices /btc, MSOS, IPO, JETS, XLE, EFA, XRT, USO, ARKK, XLI, KRE, EWZ, TLT, VXX, GDX, GLD, EEM, euro 

S&P500 DIS, MGM, PARA, MU, MOS, NVDA, AAL, CSCO, TSLA

IWM BE, RIOT, MSTR, AMLX, IONQ, LZ 

WSB AFRM, RIOT, MSTR, COIN, NVDA, UPST, TSLA  

Movers BE, APP, AFRM, RIOT, TWLO, MSTR, DIS, COIN, PARA, SPR, LI, MU, U, NVDA, MODG, AMLX, BILL, VEEV, IONQ, SONY, CSCO, TSLA

Trade Idea: NVDA

NVDA is moving higher on news that they will have a chip for China. Second time for this approach.  Premarket high 474.6 with resistance at 475 so potential pullback for breakout towards 478 top of daily expected move.  470 level can be used for a bull/bear level.