.

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 – positive  set-up

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

·       Yields: 30Y Bond +0.46%  Currencies:  USA$ -0.14% CAD -0.01% YEN+0.58%  BTC/USD-0.57%  Vix:16.4

·       Events: USA: Williams FOMC 11ET CDN: CPI 830ET

·        Stock News: TSLA upgrade; NOW, ADBE downgrade
Equity: USA indices are higher premarket, rising since European open. Due to the weak Fri close a rise Sunday night with no news is not unexpected. IWM continues to lead but breadth looks broad with financials and technology rising. MAGS are led by NVDA and TSLA with only MSFT lower. TSLA is the strongest MAGS and option positioning indicates a potential squeeze to 500. MU is bid as monkeys like to buy ahead of earnings. US$ continues to weaken post FOMC and ahead of USA economic data which will be released this week. The lower US$ has traders chasing metals, which are strong premarket but getting extended technically. Silver in particular is in a squeeze with price rising with IV which can lead to a parabolic move ultimately in either direction. Cannabis stocks (Fri idea) are higher on speculation that Trump with reschedule. MSOS calls positioned att 6 and 7 set upside targets. Post FOMC the Fed governor speaking tour begins and today Miran and Williams are speaking with Williams the catalyst for the latest equity move higher. SPX 6850 is a key level to watch today with long above and traders targeting 7000 into EOM but puts are developing below and today 6840 can lead to 6700-6600 should Santa’s sleigh develop engine problems

Daily Expected Move. SPX(6867-6787)  SPY(686-677) QQQ(620-607)  IWM(256-252)

Stocks to watch  TSLA MU NVDA GOOGL   ORCL MSFT     Speculative SLV LITE HL AG
Indices SLV ETHE GDX MSOS ARKX XME GLD SMH UFO IWM EFA UNG IBIT /CL KWEB

S&P500 MU TSLA INTC NVDA SMCI AMD GOOGL ORCL
Other IMNM ZIM LITE HL AG RKLB SNDK OKLO PL BUD SMR BMNR QBTS CRWV

TSLA

TSLA is the strongest MAGS name an inexplicably is strong despite weak fundamentals but now is trading as a robot company. IMO it’s just the trading vehicle of choice by hedge funds. The 500 calls are the big strike and created a potential squeeze setup. Weekly expected move is +/- 24 and +/-32 into Dec 26 expiration. TSLA major strikes are every $10 so over 460, look for 470. 470 is prior resistance and a level where either breakout or rejection is possible. TSLA IV is low for TSLA and options are skewed towards calls. Momentum traders can consider call verticals or fly to reduce cost. Alternatively pullback > 450 may offer a better entry level.