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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

** Underlined text – higher volume premarket

** ‘d’ – day

** ‘Y’ – year

**govt – government 

Color Key: Positive – Neutral – Negative

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

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

·         Yields: 30Y Bond -.5% Currencies: USA +.06%

·         News: USA: Richmond Fed mfg index China: Equity market stimulation Japan: CPI 2.6% vs 2.7% y/y BOJ unchanged
Stocks: RTX +4%, PG +.8%, HAL +2%, SYF +.6%, ERIC +.7%, UAL +6%, VZ +4%, MMM -7.5%, JNJ -.18%, LOGI -7%, GE -3.3%, DHI, EPS 

·         Overview: USA SPY 484 with support at 483, 480, and resistance at 485; SPY expected move +/- 2.2.  QQQ 422.6 with resistance at 425 and support at 420; QQQ expected move 3. USA large cap indices are flat with small caps outperforming similar to Monday. Macro factors are negative with long yields and US$ higher and G7 indices lower. China stocks are up on stimulus which is providing a boost to commodities. Israel chatter on cease fire is weighing on oil and shippers; however requires Hamas to agree. Strong move Monday in laggards like small caps is continuing today and is either the start of a rotation or the end of the December surge. IWM is at the top of the weekly expected move so potential for breakout or rejection.  USA indices are in the window of less support where options positioning provides less support and resistance so larger moves are possible. Minimal economic data today so market is in the hand of 0DTE options.  Today’s daily expected move levels: SPY (485.7-481.2), QQQ (424.7-418.7), IWM (199.4-193.6), and SPX(4872.7-4828.1). 

Stocks to watch RTX, NFLX, UAL, ENPH, BABA, DHI, MMM, COIN

Spec Names TKO 

Pre-800ET
Earnings PG, HAL, RTX, SYF, ERIC, UAL, VZ, MMM, JNJ, GE, DHI 

Indices KWEB, TAN, JETS, ICLN, IWM, EWZ, GDX, ARKK, GLD, /BTC, VXX, ITB, TLT, USO, EFA, euro 

S&P500 UAL, VZ, RTX, ENPH, AAL, LUV, WDC, DAL, NFLX, HAL, MMM, DHI, VLTO, IVZ, GE, CLT, LEN, VTR, PM
Movers TKO, UAL, NOVA, EDR, NTES, VZ, RTX, LI, ENPH, WOLF, JD, AA, TAL, AU, RUN, GFI, FUTU, AAL, WDC, BABA, DWAC, MMM, DHI, COIN, GE, MARA, MSTR, FRO, BE, RIOT, GOGL

Trade Idea: IWM

IWM is either benefiting from a rotation from MAG7 or signaling the end of the Nov1 rally as shorts close/ Leading premarket with premarket high 198.4 and upside targets 199.4 and 200. A move > 200 brings 205 as a target. Pullback > 197.5 could be used to buy the dip and failure could be a signal for a short.