.

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 – Neutral set-up

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

·       Yields: 30Y Bond +0.05% Currencies: USA$ +0.38%, CAD -0.13%, YEN-0.85%, BTC/USD-2.5%, Vix:18.7

·       Stocks: GE+1.5%, KO+2.6%, RTX+4.5%, DHR+2.2%, LMT+0.4%, MMM+2.4%, ELV+2%, GM+9.7%, DGX+1.9%, NOC-.5% EPS
Events: China: Plenary meeting underway CDN CPI > expectations
Equity: USA Indices flat premarket. Notable move lower in gold, silver, and bitcoin as US$ rises versus the Yen. Gold miners, which have been hot, are getting hit with the gold decline.  MAG7 led by AMZN post AWS issues Monday and META which has been a laggard. Earnings reactions generally positive, with defense names higher, which will support XLI. GM has moved 2x the expected move with a beat, though earnings are lower y/y. RTX has also moved above the expected move. GS reports that the most shorted stocks have had the best returns since 2008. Premarket, some of the space-related and quantum names are higher premarket but short squeeze signs, which were evident Mon look muted today. Volatility has dropped substantially since the spike last week, which led to the Monday squeeze, which has reduced the catalyst for squeezes, and with Vix expiration Wed there is potential for it to move lower. VVIX is still above 100, which is still a caution signal. SPX6700 is a useful bull/bear level. Credit concerns, which were a concern last week, have diminished, and ZION did not report any further issues. After the close, NFLX is the big name reporting along with TXN, which can move semis, and COF, which can move the credit cards.
 
SPY 671  Resistance 673 675 Support 670 667 665   QQQ 611  Resistance 612 615 Support 610 605
Daily Expected Move. SPX(6772-6698)  SPY(675-667) QQQ(615-608)  IWM(250-246)

Stocks to watch AMZN, GM, GE, RTX, NEM Speculative  EOSE, GLXY, RDDT
 Pre-800ET
Indices /CL, MSOS, UFO, ARKX, XLE, US$, XLI, TLT, XLP, SMH, GDX, SLV, GLD, XME, IBIT, EWC, KWEB, EFA, XLB

S&P500 GM, RTX, HAL, KO, F, MMM, UNH, NEM

Other EOSE, GLXY, RUN, BILI, RDDT, CORZ, RKLB, IONQ, QUBT, XPEV, UUUU

AMZN

AMZN moved higher despite the AWS outage on Monday, which is a sign of strength. Above 215, call positioning indicates potential for 235+, but 220 is prior resistance.  AMZN is technically in a downtrend with 20ema ~220, which can act as resistance, so this is a counter-trend idea which is risky.