Oversold rebound with strong options activity

US Stock Pre-Market Evening Edition 2026-11-13 Beijing Time 21:00 #ConclusionFirst Today, only one and a half major categories remain: #BiopharmaInnovation is the main theme; #WaterAndAICooling is for observation only. The Nvidia leadership change turmoil has not yet been fully digested. Tech rebounds are happening, but we are not chasing AI hardware today. If trading only three stocks: #EliLilly $LLY is first, #Johnson&Johnson $JNJ is second, #Google $GOOGL is third with a halved position. Explicitly avoiding: Bottom-fishing Nvidia chain plays, options-biased short positions, ARK hot stocks that have already risen 20-30% in 5 days, and small caps surging without reason pre-market. #NewsFlow Pre-market, the three major index futures are slightly stronger, S&P futures up 0.15% to 0.3%, Nasdaq futures basically flat. #Nvidia $NVDA rebounds about 2% to 3% pre-market, but down about 11% for the week. The interim CEO is the former CFO, and external headhunters are already looking for a successor. Tuesday's earnings report will be the real test. #Microsoft $MSFT fell about 2% pre-market due to widespread outages of Outlook, Teams, and Copilot lasting over 12 hours, making it the only one of the Magnificent Seven to decline. #Cerebras $CBRS raised its 2026 revenue guidance and secured a Microsoft order, rising over 17% pre-market. At 21:30 tonight, October PPI will be released, with market expectations at 0.4% month-over-month. A December Fed rate hike is fully priced in. The 10-year US Treasury yield touched 5.10% briefly on Thursday. Brent crude oil is around $96. Among high-weight events, Eli Lilly's oral OSA drug won Phase III, and Johnson & Johnson's Caplyta had a second positive Phase III result. Both are clinical/FDA tier-one events, representing the hardest catalysts this period. #ResearchNotes Wells Fargo upgraded #Ecolab $ECL from Equal Weight to Overweight, raising the target price from $315 to $380, citing direct liquid cooling and ultrapure water for wafer fabs. KeyBanc upgraded #PaloAltoNetworks $PANW to Overweight with a $380 target. William Blair and Oppenheimer simultaneously upgraded #AdvancedMicroDevices $AMD, with the latter setting a $600 target. Truist downgraded Nvidia to Hold, cutting the target from $346 to $174. Craig-Hallum also downgraded to Hold. Wedbush raised Cerebras' target price to $205. #CapitalFlow Options show directional resonance: $LLY Call open interest increased by 4.8%, Call volume surged 172%, with the largest Put strike price at 1430 hugging the current price; all three align. $JNJ largest Call strike at 290 is 2.25% away from current price, Call open interest up 5.5%, volume-to-open-interest ratio 1.58; all three align. $GOOGL largest Call strike at 300 is 0.44% away, Call open interest up 13.4%, Call volume surged 192%. #DuPont $DD has a Put/Call volume ratio of 2.42, with short volume increasing, directionally bearish, so it does not count as resonance. Regarding ARK: $CRWV was bought by both ARKK and ARKW on the same day totaling about $16 million. $TWST was bought by both ARKG and ARKK totaling about $8.4 million, with the latter seeing a 15.4% increase in Call open interest. #Futures Thursday perspective: ES and NQ prices rose while Open Interest (OI) fell, indicating short covering, not new longs entering; Russell and 10-year Treasury OI increased but volume was insufficient, so no definitive stance yet; 30-year Treasury prices fell and OI dropped, indicating longs exiting; WTI and Brent prices fell and OI dropped, indicating longs exiting; Gold prices rose and OI dropped, indicating short covering. The foundation for equity index rebounds is thin. #China-US Mapping Top performers in the US stock 20-day window: $JETS +9.3%, $IHE +9.0%, $FIW +8.7%, $ITB +8.1%; 5-day window leaders: $SMH +12.1%, $XLK +7.0%, $QQQ +6.4%, $ITA +5.3%. Only $IHE appears in both windows (20-day +9.0%, 5-day +4.4%), indicating trend acceleration. Semiconductors appear only in the 5-day window, still down 10% in the 20-day window, classified as a short-term pulse. Top performers in A-shares 20-day window: Robotics, Nasdaq Biotechnology, Auto Parts, Film/TV, Sci-Tech AI. Among these, the Nasdaq Biotechnology ETF rose 15.20% in 20 days, resonating with US pharma over 20 days. A-share 5-day window data is missing. Today, A-share ChiNext fell 3.32%, continuing to cool tech mapping. #Three Directions 1. Innovative drugs and large pharma: Events, capital flows, and ETFs all align. 2. Water utilities and AI cooling: Ecolab upgrade plus strong performance of the Water Utilities ETF over 20 days, but individual stock positions are still in the middle of the range; observe first. 3. Oversold repair of large platform stocks: Only watch Google. Nasdaq remains downtrend over 20 days; reduce weight. #Six Individual Stocks #EliLilly $LLY closed at 1427.28, about 2.3% below the 20-day high and 52-week high of 1460, at the 85th percentile of the recent 20-day range, preparing for a breakout. Trigger: Breakout above 1460 with volume. Invalidation: Breakdown below the 20-day moving average line at 1346. #Johnson&Johnson $JNJ closed at 283.52, less than 1% below the 52-week high of 286.08, at the 93rd percentile of the range, preparing for a breakout near highs. Profit-taking positions near 99.5%; allow only half position. Add if breaking above 286.08 with volume; invalid if falling below 270. #Google $GOOGL closed at 298.70, at the 30th percentile of the 20-day range, rebounding from the low of 276.92, up 5.7% in the last 5 days, stabilizing at the right side of the box bottom. MA20 above is at 305.66. Confirmation if standing above 305.66; invalid if falling below 287. Position halved. #Ecolab $ECL closed at 304.41, at the 59th percentile of the range. After the analyst upgrade, first see if it can reclaim 311 and challenge 318.93. Observe only until then. #DuPont $DD closed at 154.70, at the 84th percentile of the range, about 3% below the 20-day high of 159.48. Options are bearish; observe only. Consider only if breaking above 159.48 with volume. #TwistBioScience $TWST closed at 114.22, pulled back from 93.68 on Thursday, at the 24th percentile of the range, stabilized with a long lower shadow. However, still down 20.9% over 20 days, with MA20 at 140. Classified as an oversold bounce; observe only. #Small-Cap Alpha Not selected this round. $PACB is at the box bottom around 20%, but P/C volume ratio is 6.14 (bearish), short interest balance is still increasing, down 18.9% in 5 days; $AMRC has $7.2 billion in backlog orders plus insider buying, already up 35% in 5 days, short-term extension reached; $FUN is at the 96th percentile of the range, high level. Verification failed; better to stay empty. #Trading Tips 21:30 PPI is the first gate tonight. If higher than expected, rates will push higher again; first guard against high-valuation tech pullbacks. Pharma trades in batches at trigger prices; do not chase highs at the open. Wait for Nvidia earnings; do not bottom-fish. Follow @cnfinancewatch to keep up with Wall Street and A-share pre-market/intraday key points. Subscribe to http://macaostarbridge.com for more cross-market research and trading bridge information. This is merely information organization and does not constitute investment advice.