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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 – Neutral equity global set-up

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

·         Yields: 30Y Bond +.34% Currencies:  USA  -.18% 

·         News: USA: New home sales 10ET
Stocks:   MDGL-7%, DPZ+5%, FRPT +12%, LI+8%, PPC+6%, eps
Overview: USA SPY 507.8  support 505 and resistance  510.  SPY expected move +/- 2.1. QQQ 437 with resistance  440  and support  437 435 434 ; expected move +/-2.7. USA indices are muted with large cap flat and small caps lower. Macro factors are supportive with yields land US$ lower. Commodities are pulling back with a drop in Chinese futures. No major economic data today hence 0DTE in control with SPX call wall at 5100 and put wall at 5000 which can serve as range limits with breach leading to outsized moves. MAG7 are mixed premarket with NVDA continuing the rampage and AMZN, TSLA with strength but GOOGL and AAPL lagging. Some bid to stocks reporting this week like CRM and DELL  Breaches of daily expected moves can lead to larger moves. Today’s daily expected move levels: SPY (510-505.8), QQQ (439.5-434), IWM (201.6-198.2), SPX(5109.7-5068). 

Stocks to watch  NVDA, AMD, AMZN, DPZ, CRM, PANW, DELL, GOOGL, AAPL,  Spec Names RXRX, LI, PDD 

Pre-800ET
Earnings  
Indices SMH, euro, TLT,  GDX, USO, IWM, EEM, XLE, XLB

S&P500 DPZ, MU, BRK/B, PANW, CRM,  MRNA, KEY, NEM, FCX, IP
Movers RCM, FRPT, LI, HCP, FLNC, TEVA, MU, DPZ, ACMR, RIVN, RXRX, BRK/B, AU, GPS, CRM, PANW, CLSK, DELL, GFI, AA, PDD, RIO, VALE, BHP, MRNA, ZIM, SHEL, BEKE, SONY, MT, SQ, FSLY

Trade Idea: AMZN

AMZN is trading today as a member of the DJIA which potentially is a reason for strength premarket. AMZN is call heavy with potential long > 175 or pullback > 170. Out of the money calls at 180, 185 and 190 are potential targets. All time high 188.95.