.

Color Key: Positive – Neutral – Negative

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

·          Global Markets:  USA, Europe, Japan, China, Hong Kong Asia –  Neutral equity global set-up

·         Commodities:  Gold, Silver, Oil, natgas, Softs, Industrial Metals 

·         Yields: Yields are lower

·         Currencies:  US $-.23%

·         News:  EUR: German ifo Biz Climate 88.5 vs 90.7

·         Stocks  TSLA  -1.48% GS downgrade  LCID +16% Aston Martin Deal AMD +1.0% Bounce candidate PFE -2.4% discontinuing development of obesity drug CCL +2% earnings after close MRNA +2.5% upgrade GOOGL -1.4% downgrade

·         General: Leading: GDX, KWEB, GLD, KRE, USO, EEM, DBC  Lagging: /btc, ARKK, BLOK, XLY, UUP, IWM

·         Overview: USA SPY 432.8 displays support of 430 and resistance at 435, and 445. SPY expected move +/- 1.9. QQQ 362.1 with resistance at 365 and 370 displays support of 360 . QQQ expected move +/- 2.6.  Neutral global equity set-up but yields lower and US$ lower is generally positive. Move lower in US$ is providing a boost to commodities after poor performance last week. FAANGMT are divided with downgrades of TSLA and GOOGL potentially providing dip buy opp and AMZN, META supporting. Semis are in favor today and AMD is a potential dip buy in my opinion. Bonds are bouncing, watch TLT for potential continuation. SPY 430, SPX 4320 are the key bull/bear lines where bounce / breakdown expected. SPX4320 is a potential magnet with JPM collar roll Friday.
Potential for weakness/chop today. Keep your head on a swivel.

·         Stocks to watch  CCL, NEM, AMD, INTC, AMZN, TLT, PBR, TSLA, GOOGL, PFE    Spec Names  LCID, HL, BMEA, MARA

Pre-800ET
Earnings 

Indices GDX, KWEB, GLD, KRE, USO, EEM, DBC, SOXX, XLU, euro, /btc, ARKK, BLOK, XLY, UUP, IWM

S&P500 MRNA, CCL, GOOGL, PFE, TSLA

IWM SG, FGEN, MARA, FRO, EAT, ENVX

WSB TSLA, COIN, GME

Movers BMEA, MRNA, LI, CCL, EQNR, GOLD, BILI, PBR, BA, FGEN, MARA, PFE, FRO, TSLA, GOOGL, COIN, PBR

Trade Idea: AMD

In my opinion, AMD is a bounce candidate after closing the gap up May 25. In my analysis, premarket high 111.66 can be used for a momentum breakout. Option flow is bullish with high open interest at 110 which is the support level on an opening dip. Expected move for week is +/-5.3 with call buyers targeting 115 and 118.