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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

** ‘d’ – day

**govt – government 

Color Key: Positive – Neutral – Negative

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

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

·         Yields: 30Y Bond -1.1% Currencies:  USA +.55%

·         News:   USA:  nonfarm payroll 830ET; ISM services PMI 10ET  Europe: CPI estimate 2.9% y/y vs 3%
Stocks:
Overview: USA SPY 465  support 465  and resistance 470 471.  SPY expected move +/- 3  QQQ 394 with resistance 400 401 and support 395 ; expected move 3.3. Global indices were negative ahead of the USA non-farm payroll report which was greater than expected, and added to weakness with the reaction being an increase in yields and US$. ISM services PMI report at 10ET will also be market moving. Indices are negative gamma which leads to increased volatility in both directions. SPY 465 is a major support level where bounce or additional breakdown likely. Not unusual for a rally post the report due to IV drop in spite of a negative report so keep an open mind for both continuation of the down move or a short covering rally with SPY 465 the key level with 10ET a potential time. Breaches of daily expected move can lead to outsized moves. Today’s daily expected move levels: SPY (470.3-464)  QQQ (399.6-393), IWM (196.6-191) SPX(4718.6-4658.6). 

Stocks to watch VZ, STZ,  AAPL, AMD, TSLA,   Spec Names FRO, MARA, HUT 

Pre-800ET
Earnings   STZ

Indices USO, VXX, XLE, UUP, TLT, /btc, KWEB, ARKK, XME, EFA, XLK, SLX, IWM, GDX

S&P500  STZ, CTRA,  NCLH, PYPL, ENPH

IWM  KYMR, FRO,   CPRX, DYN, MARA, RXRX
Movers KYMR, FRO, STZ, PBR, CTRA,   AGL, CPRX, DYN, PLTR, GFI, LI, NTES, AU, BHP, AFRM, COIN, NVO, NCLH, MARA, XPEV, BABA, HOOD, UPST, ENPH

Trade Idea: SPY

SPY is at the key 465 level after the non-farm payrolls number which was greater than expected. 10ET is the ISM report which will be market moving.
Below 465 potential for a fade but while above 465, the drop in IV post report can lead to higher prices with 470 a target. Above 470, potential for a larger than expected move, especially into EOD. Take care with the 10ET data