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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 – Slight positive equity global set-up

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

·       Yields: 30Y Bond +.8% Currencies:  USA  +.26%

·       News: USA: UE claims 830ET; ISM mfg PMI 10ET Europe: CPI above expectations China:Caixin mfg PMI 50.8
Stocks:   MRK +1.8% ETN +3% RACE +6% RCL +3% CTVA +5.5% ALGN +12.5% NXT +18% QCOM -1.3% HON -2.2% BDX -2.6% WOLF -4.9%  eps  BA +1.4%
Overview: USA SPY 484.6 displays support of 483 and 480 with resistance of 485 and 486.  I expect the SPY to move +/- 3.3 QQQ 418.9 with resistance  of 420  and support of 416.8, 415, and  412.8; in my opinion, it is expected to move 4.2. USA indices sold down post FOMC as Powell dispelled notion of March rate cuts and QT tapering. USA indices have bounced with MAG7 rebounding with spec tech and high short interest leading. A bounce after the decline is normal and large cap indices need to reclaim major gamma levels to have confidence in the bounce continuing: SPY 485 QQQ 420.  Short cover and put closing is the catalyst for the bounce but will be temporary. ISM data at 10ET may be market moving.   Today daily expected move levels: SPY (486.1-479.6)  QQQ (421.2-412.8), IWM (197.4-188.4) SPX(4878-4813). 

Stocks to watch AMZN ETN RACE CTVA RCL  HON QCOM  WOLF Spec Names ALGN DWAC

Pre-800ET
Earnings   MRK SHEL ETN MO RACE TT RCL CTVA ALGN BALL NXT  QCOM HON SNY WOLF

Indices ICLN ARKK KWEB IWM USO XBI faangmt SOXX KRE VXX /BTC HYG AGG  

S&P500
Movers NXT ALGN GOOS ETSY NSC DB CTVA RUN PTGX ARRY BE DWAC RCL CCJ TWLO UPST ING CAH WOLF HON SHOP QCOM SNY SWK

Trade Idea: AMZN

AMZN is reporting earnings after the close and hence in play today. Premarket high 157.5 potential momentum long. AMZN is extended premarket so potential pullback to 156 where bounce possible and below potential that it will be sold down into the print. Expected move after the print +/- 8.2