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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

Underlined text – higher volume premarket

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, Softs, Industrial Metals 

·         Yields: Yields are higher

·         Currencies:  US $+.05%

·         News:  Canada: IEmployment at 8:30 ET  China: PPI y/y -4.6% below expectations

·         Stocks TSLA+6% GM +3.4% GM to use TSLA charging network TGT -1.3% Lower traffic, downgrade; CRSP +6% positive FDA

·         General: Leading: Spec_tech, energy, semis, China_Internet  Lagging: Smallcap materials Utes

·         Overview: Neutral setup with USA equities mixed, yields higher and US$ lower.  USA SPY 429.3 displays support of 426, 425, and 420 with resistance at 430. SPY expected move +/- 1.9. QQQ 353.8 with resistance at 355 with support of 351, 346, and 340 . QQQ expected move +/- 2.3.  Opex today so potential for large moves in the afternoon with pullbacks possible in stocks with large call positions (down) or put positions (up) out of the money. SPX 4300 is major resistance hence look for rejection or large move higher if can breach. General setup is negative with equities not strong globally, yields higher and US$ higher. Premarket set-up is for Nasdaq and AI/spec tech to lead but TSLA is already very extended and can continue to run but risk of a pullback.

·         Stocks to watch  TSLA, ADBE, DOCU, NVDA, NFLX, TGT, COIN  Spec Names  PLTR, CRSP, U, AI, SMCI 

Pre-800ET
Earnings NAPA, DOCU

Indices ARKK, XLY, ARKQ, USO, SOXX, KWEB, SMH, LIT, iWM, XLB, XLU, EFA, XLF, FAANGMT

S&P500 TSLA, GM, ADBE, ETSY, GLW, F, MTCH, NVDA, ON, VFC, TGT

IWM NAPA, SMCI, FRO, IMGN, ACIW, AI, NTLA, NNOX, SDGR, OPCH, ING

WSB TSLA, PLTR, RIVN, AI, F, NVDA, COIN, UPST

Movers TSLA, CRSP, DOCU, GM, BILI, ADBE, ETSY, ABNB, PLTR, SMCI, FRO, IMGN, U, EQNR, NNOX, AI, F, ROKU, TSM, NVDA, W, CVNA, PATH, TGT, COIN

Trade Idea: TSLA

In my opinion, TSLA is in play on the deal with GM to use the TSLA charging network. Very extended but in the midst of a gamma squeeze.  250 is a major call OI level and above can squeeze with targets 255 and 260. Expected move for today +/- 5. Below 250 potential to fade to 245, 240. I will look for large moves in either direction in afternoon into close today