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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

Color Key: Positive – Neutral – Negative

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia –  Mild Negative equity global set-up

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields are flat

•Currencies:  US $ +.12%; $Yen -.66%, $EUR -.21%

News: USA:Non-farm payrolls Fri inline with expectations
•Stocks TSLA -2.3% Margin concerns; PXD +6.4% XOM acq MU +5.8% Samsung cutting production; FRC -4% pref dividend suspended 

Usual Suspects: AAPL -1%, GOOGL -1%, NVDA -1%

•General: Leading:  Bitcoin, Energy, US$ Lagging: Spec tech, bonds, gold miners, and China internet

Overview: USA indices pulling back since 7:00 ET. SPY 407 has support of  405 and with resistance at 410, and 415. SPY expected move +/- 2.9. QQQ 315.5  with resistance at 317, 320, and 325 has the support of 315, and 310. QQQ expected move +/-3.2. QQQ is weakest sector with large cap tech the problem. Jobs report is leading market to price in a May rate increase which pressures tech stocks. Semis are fade candidates with weaker PC sales, forecasts, Samsung cutting production and lower TSM revenue. Energy may be the bright spot with XOM acq of PXD. Liquidity will be light with Europe closed which can lead to larger moves. TSLA weakness on further price cuts will be a negative catalyst for spec tech. SPY 405 and QQQ 315 are key bull/bear levels to watch today. Keep your head on a swivel!

Stocks to watch TGTX, PXD, MU, TSLA, AAPL, NVDA, COF, LRCX Spec Names TGTX, ENVX, AI

Pre-800ET
Earnings GBX

Indices BTC, LIT, XOP, VXX, USO, UUP, ARKK, TLT, GDX, KWEB, XLK, AGG, GLD, EFA, BLOK

S&P500 PXD, MU, WDC, FANG, SCHW, MRNA, CTLT, WY, CF, EOG, PAYX, FRC, COF, TSLA, LRCX, AAPL, ANET

IWM TGTX, CNK, ENVX, AI

WSB AI, TSLA

Movers PXD, TGTX, MU, YPF, FANG, PR, CF, NTR, COF, FRC, TSLA, TAK, BIDU, SQ, LRCX, BUD, JD, TSM, BUD, ROKU, U, AAPL

Trade Idea: AMD

Semiconductors are weak with a number of negative reports. In my opinion, AMD is a potential fade idea with large put positions at 91 hence consider short below 91. Recent market behavior has been for shorts to cover early so watch for reversal higher > 92.4.   TSM, MU, LRCX, AMAT are other candidates.