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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

** ‘Y’ – year

**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 +.16% Currencies:  USA  +.07% 

·         News: USA:Fed Minutes 14ET; CDN: CPI 830ET China: Rate cut
Stocks:  PANW -24%, SEDG -20%, GLBE -13%, VRT -10%, TDOC -21%, ADI -1.3%,    BLCO +11%, WIX +5%, TOL +1.6%,  eps AMZN joining DJIA replacing WBA
Overview: USA SPY 495.2  support 495 494  and resistance 500 505.  SPY expected move +/- 2.7. QQQ 424 with resistance  425 430 and support  425 423 ; expected move +/- 2.4. USA indices are lower premarket with QQQ and IWM leading to downside. QQQ is already below the daily expected move and a key gamma level hence risk of continuation lower. PANW forecast weighing on security stocks and SEDG on solar. AI stocks which had moved parabolically higher on call buying are pulling back ahead of NVDA earnings. Post NVDA drop in IV may create downside risk to semi and AI names. Emerging markets and foreign stocks have been outperforming and China names are strong premarket as the hope that a bottom in moves to Phase 10.  NVDA earnings will be the key data AMC but Fed minutes and a couple of FOMC speeches may move markets.  Post opex is in window of less support from options market. Breaches of daily expected moves can lead to larger moves. Today’s daily expected move levels: SPY (499.4-494.1),  QQQ (429.7-425), IWM (201.6-196.1), SPX(5002-4948). 

Stocks to watch  AMZN, AAPL, KWEB,  PANW, CRWD, NVDA, TSLA, META,  Spec Names GRMN,  SMCI 

Pre-800ET
Earnings  
Indices KWEB, GLD, GDX, LIT, EEM, VXX, HACK, TAN, ARKK, IGV, ICLN, /btc, SMH

S&P500 GRMN, EQT, EXC, PANW, FTNT, ENPH, WBA, LLY, NVDA, AMD, ADI
Movers NEO, BLCO, GCT, CRSP, LI, GRMN, ZTO, JD, BILI, GOGL, PDD, TOL, PANW, TDOC, SEDG, GLBE, PLAB, VRT, CRWD, ZS, S, ENVX, CLSK, MARA, SMCI

Trade Idea: AMZN

AMZN is in play with twin news that is being added to DJIA coupled with Bezos continuing to sell. Outperforming other MAG7 premarket so potential long if it is used to support the Nasdaq.  Pulling back in premarket, look for a reversal for a long toward 170.  Below 167 contradicts the long thesis. Below 165 is a potential fade.