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Date: Nov 13, 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 – Cautious equity global set-up

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

·         Yields: Long Yields higher Currencies:  USA +.05%

·         News: USA: Moody downgraded USA outlook China: New loads above expectations JPN: Machine Tool Orders -20% y/y
Stocks: STNE +5%, MNDY +8%, TSN -5.5% Earnings reactions VERV -37%, BA +3% New orders NVO -1% Positive cardio efficacy
Overview: USA SPY 440.06 with support at 437.5, 435, and resistance at 441.  SPY expected move +/- 2.7.  QQQ 376.6 with resistance at 378.8, 380, and support at 375 and 370.  QQQ expected move +/- 3.05.  USA indices are slightly lower after Friday tech squeeze which left all Mag7 ex-TSLA above weekly expected move.  Moody outlook downgrade is the big news and may be the reason for the rise in yields and US$ which is a negative macro set-up.  Many of the top tech stocks have Demark sell signals e.g. NVDA, AMD, SMH but price needs to confirm.  China stimulus and Xi upcoming meeting in USA along with singles day sales providing a boost to China stocks. CPI upcoming may lead to a muted trading day but with indices in positive gamma dips likely bought.  Today’s daily expected move levels: SPY (443.3-437.9), QQQ (381.4-375.3), IWM (170.9-167.4), and SPX(4442.4-4388.1). 

Stocks to watch NVDA, TSLA, BA, SPR, TSN     

Spec Names MNDY, STNE 

Pre-800ET
Earnings STNE, MNDY, HSIC, TSN

Indices KWEB, VXX, XOP, /btc, EWZ, JETS, BLOK, ARKK, TLT, EEM, XBI, EFA, IWM, SOXX, XLK

S&P500 BA, HPQ, EQT, MDT, ISRG, TSN, WBA, LUV

IWM STNE, ASAN, TMDX, VERV 

WSB BA, RIOT
Movers MNDY, STNE, SPR, BA, LI, FMS, FUTU, TRIP, BEKE, BILI, ISRG, PDD, EQT, MDT, CRWD, TTD, RRC, VERV, TSN, TSEM, LTHM, WBA, HMC, CRH, STM, RIOT, GFI

Trade Idea: TSLA

TSLA is the weakest of the Mag7. Premarket 215.3 with premarket high 217.9. Below 215 potential fade to 212.5, 210 and above 215 potential long to 217.5, 220.  Expected daily move 220.3-209.