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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 global set-up

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

·         Yields: 30Y Bond -.2% Currencies: USA$ +.2% Vix: +.2%

·         News: USA: GDP 8:30 ET, UE claims; Chicago PIM 9:45 ET; Pending home sales , UofM Consumer Sentiment 10:00 ET
UK: GDP q/q -0.3% EUR: German retail sales -1.9% m/m
Stocks: WBA-1% MLKN-15.6% RH+9% EPS AAPL-.44% downgrade;
Overview: USA SPY 522.6 with support at 520 and 518, and resistance at 525; SPY expected move +/- 2.33.  QQQ 444.4 with resistance at 445 and 447.9, and support at 441.9 and 440; QQQ expected move +/-2.9.  USA indices are flat after Wednesday late day 0DTE pop.  Wednesday was marked by heavy rotation into non-MAG7 which IMO is rebalancing flows with quarter end today. Large option expiration which combined with GDP today, PCE tomorrow may lead to volatility though week post Easter is historically bullish. Levels to watch on pullback are SPY 520 and QQQ 445. Moves outside daily expected moves can lead to much larger moves. Today’s daily expected move levels: SPY (525.5-520.8), QQQ (447.9-441.9), IWM (211.4-207.9), and SPX(5271.5-5225.5). 

Stocks to watch RH, BITO, AAPL, NVDA, WBA

Spec Names CXM, VERU, HOOD, EH 

Pre-800ET
Earnings RH WBA
Indices BITO, VIX, GLD, KWEB, FXI, GDX, ARKK, UUP, EFA, TLT, FXE, XLK
S&P500 TTWO, SMCI, WBA
Movers RH, CXM, GCT, EH, ATAT, LI, SNOW, W, MSTR, BILI, GFI, JD, HSBC, SMTC, MLKN, UBS, STM, PLTR, WBA, SMCI, ALV, WBA

Trade Idea: VZ

VZ breaking on daily as rotation into laggard at month end. Potential upside to previous highs 42.5, 43.  Risk to telecom stocks is rising long yields. May benefit if there is a risk-off move in the equity market some time within our lifetimes 🙂