.

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 – Neutral equity global set-up

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

·         Yields: 30Y Bond +.13% Currencies: USA -.17% 

·         News: EUR: German GDP -0.3% q/q  
Stocks: BKNG -6%, FOXF -21%, GH -5.8%, MELI -7%, VICR -15%, NE -4%, CVNA +28%, SQ +15%, EVH +8%, FND +1.8%, LYV +5%, FTAI +6%,   eps
Overview: USA SPY 508 with support at 505 and resistance at 510; SPY expected move +/- 2.6. QQQ 438.5 with resistance at 440 and 442 and support at 437 and 435; QQQ expected move +/-3.7. Global indices are neutral premarket with a bid starting with the European open. Tilt towards tech and large caps. Large cap indices are stretched with SPY above the weekly expected move and QQQ at it so upside < downside risk. NVDA continues to be pushed to the upside premarket which sucks capital away from other MAG7 but MSFT fits into the AI narrative. Macro factor is mildly positive so the market is in the hands of 0DTE. Look for larger moves late in the day into Opex.  Breaches of daily expected moves can lead to larger moves. Today’s daily expected move levels: SPY (510-507.5), QQQ (441.8-434.4), IWM (201.5-197.3) and SPX (5112.8-5061). 

Stocks to watch NVDA, MSFT, SQ, BKNG, ABNB

Spec Names CVNA, ARKK 

Pre-800ET
Earnings  
Indices KWEB, ARKK, SMH, MSOS, GDX, XRT, SOXX, ARKF, faangmt, /btc, VXX, USO, XLE, XOP, XLY

S&P500 LYV, NVDA, ABNB, CPRT
Movers CVNA, SQ, FLNC, RKT, LYV, TCOM, DKNG, SNOW, CART, GOGL, NVDA, FYBR, VALE, MARA, NU, RIOT, CPRT, CLSK, GCT, SMCI, COIN, RIVN, ABNB, CCJ

Trade Idea: SQ

SQ is in play post earnings and above the expected move which can lead to a squeeze higher. 80 is likely resistance but a break above will lead to a squeeze to 85 and higher. Pullback > 75 potential long entry and < 75 is potentially a signal that pop is being faded.