.

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 +0.26%  Currencies:  USA$ +0.14% CAD -0.08% YEN+0.08%  BTC/USD-3.85%  Vix:19.05

·         Stocks:HON+4.3% WDFC+6.6% DOV+1.4%     IBM-6.8% TSLA-3.4% TMUS -0.7% LRCX-.9%    EPS
Events: CDN: Retail sales 830ET USA: USA announced sanctions on 2 Russian oil companies which is causing oil to spike; Story that USA would invest in quantum companies causing a squeeze after several days of selling
Equity: USA large cap indices are trading lower premarket. SPX is below 6700 bull/bear level with 0TE positioning indicating small support at 6650 and larger at 6575.  USA imposing latest sanctions on Russian oil has led to a spike in oil prices for the nth time along with an increase in yields, gold, silver and bitcoin. Higher oil prices are inflationary but won’t be factored into Friday’s CPI print which is the next big econ data. TSLA, IBM are lower on earnings with IBM at the bottom of the daily expected move and TSLA at a potential support level (420). Rumors of the USA investing in quantum stocks has led to a squeeze in the names which have been trashed over the last few days. Some caution is warranted chasing these names. Vix futures 19.6 is indicative of hedging which is sensible given geopolitical tension, CPI Fri, FOMC coming, more hyperscaler earnings, China trade. Buying dips and selling rips has been working with daily expected moves levels to watch.

SPY 667 with Resistance at 670 and 672 with Support at 666, 665, and 663 and QQQ 604 with Resistance at 605, 610, and 611with Support at 601 and 600
Daily Expected Move. SPX(6744-6655)  SPY(672-663) QQQ(611-600)  IWM(246-240)

Stocks to watch GOOGL, HON, OXY, TSLA, IBM, NVDA Speculative  QBTS, IONQ, QS, QUBT, RGTI, AAL
 Pre-800ET
Indices /CL, SLV, XLE, ETHE, GDX, IBIT, XME, UNG, QTUM, KWEB, ARKG, US$, TLT, XLY, SMH, MAGS, XLK, QQQ, SPY

S&P500 DOW, OXY, WBD, IBM, TSLA, MRNA, MU, TMUS

Other QBTS, IONQ, QS, QUBT, RGTI, AAL, STM

TSLA

TSLA lower post earnings. 420 is a large put level that should act as support or acceleration below. Note that there is a large volume gap below should 420 not hold.  TSLA should offer some day trading opportunities with 420 as the reference level.