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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 +.35% Currencies: USA$ -.03% Vix: -.3%

·         News: USA: CPI 8:30 ET; 10Y bond auction 13:00 ET FOMC meeting minutes 14:00 ET CDN: BOC rate decision
Stocks: DAL +4%, SGH -5.5%, AEHR -2.5%, EPS

·         Overview: USA SPY 520.3 with support at 520, 518.8, 515, and 514.5, and resistance at 523, 524, and 525; SPY expected move +/- 4.8.  QQQ 442.9 with resistance at 445, 446.3, and support at 440, 438; QQQ expected move +/-4.1.  Global equities are higher, yields lower and US$ lower is a set-up for an inline or lower CPI print. Implied volatility is elevated with puts bought for protection and an inline, weaker CPI print should lead to a mechanically higher move driven by hedges being removed. Indices are in negative gamma so there is risk of a sharp down draft on a hot print. Typically, outperformance from the fundamentally weakest sectors such as small caps, biotech and solars. SPX 5200 is the important line in the sand for bulls and bears.  Today’s daily expected move levels: SPY (524.1-514.5), QQQ (446.3-438.1), IWM (210-202.8), and SPX(5257.9-5161.9). 

Stocks to watch GOOGL, AAPL, DAL, BABA, TSM, INTC, SMCI, NVDA, HXL

Spec Names EH 

Pre-800ET
Earnings DAL, SGH, AEHR
Indices KWEB, FXI, VIX, IWM, TLT, ARKK, EFA, DIA, SLV
S&P500 DAL, UAL, AAL, LUV, SMCI
Movers DAL, UAL, BABA, AU, AAL, PDD, HSBC, EH, STLA, SHEL, RBLX, BILI, JD, TSM, BEKE, LI, HXL, SMCI

Trade Idea: IWM

IWM is a candidate to trade CPI. Expected range today 210-202.8. Straddle approach long > 207.5 target 208.5, 210 and fade < 206.5 target 205.8, 205, and 203.