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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 global set-up

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

·         Yields: 30Y Bond +.16% Currencies: USA$ +.3% 

·         News: JPY: Ending negative interest rates USA: Building permits 8:30 ET CDN: CPI
Stocks: STNE -8.7% DLO-11% EPS SMCI -9.4% secondary MSTR -10% Convertible note offering, buying more btc.
Overview: USA SPY 510.6 with support at 510 and 508, and resistance at 514 and 515; SPY expected move +/- 2.4.  QQQ 434.7 with resistance at 435, 440, and 441.3, and support at 433 and 430; QQQ expected move +/-3.8.  USA indices moving lower post NVDA conference with MAG7 and semis taking a breather. US$ is higher ahead of Wed FOMC post RBA and BOJ action. NVDA and semis were call heavy into the event and IV was elevated and risk that the drop in IV post the event will lead to market makers selling long hedges which will knock down semis. SPX5100, SPY 510 is the key support level.  Moves outside daily expected moves can lead to much larger moves. Today’s daily expected move levels: SPY (515.2-510.5), QQQ (441.3-433.7), IWM (204.6-197.9), and SPX (5175.9-5122.8). 

Stocks to watch SNPS, SMCI, AMD, NVDA, MU

Spec Names CRNX 

Pre-800ET
Earnings  
Indices VIX, UUP, TLT, IBIT, ARKK, SMH, FXY, KWEB, COPX, QQQ, XLK, GDX, IWM, SLV, ARKG, SPY

S&P500 SNPS, MCK, MMM, ETSY, BMY, SMCI, AMD, NVDA, MU, CAH, AVGO, FCX, TSLA, JBL, INTC, ADBE
Movers CRNX, CRDO, UL, DB, CDNS, ROKU, KSS, DLO, MSTR, SMCI, STNE, MARA, COIN, CLSK, RIOT, GCT, AU, AMD, HOOD, MRVL, RXRX, PLTR, ARM, JD, SNOW

Trade Idea: NVDA

NVDA pulling back post the event.  860 is an important level, below potential for 850 and 830 bottom of the weekly expected move. Call heavy into the event so risk for pullback as IV falls. Above 860, potential bounce to 870 but bounces may be sell opportunities.