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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

Market Setup- Pre-730ET 

Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – Slight positive global set-up

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

·         Yields: 30Y Bond -.19%  Currencies:  USA$  -.08% Vix: -1.3%

·         News:  USA: UE claims 830ET; Job cuts 0.7% y/y. FOMC Barkin Mester 12ET EUR:10Y bond yields rising
Stocks: LEVI +11%, CAG +3% EPS PLTR +4% deal with ORCL SQ -3% downgrade Bitcoin names: MARA 2.4%, RIOT, CLSK, COIN+2.75%, Bitcoin higher 

·         Overview: USA SPY 521.6  support 520 515  and resistance  523 525 SPY expected move +/- 4. QQQ 444.7 with resistance  445 446.6 and support  437.6 35 ; expected move +/-4.5.  USA indices are positive with large cap tech leading to the upside and MAG7 ex-GOOGL higher. ARKK and bitcoin strong is indicative of risk-on with caveat that long yields rising is not normally positive for equities. UE claims were slightly higher than expected which may provide short term bump but option market has been selling calls so take caution on pops. Moves outside daily expected moves can lead to much larger moves. Today’s daily expected move levels: SPY (523.4-515.5),  QQQ (446.6-437.6), IWM (209-202.6), SPX(5230-5192). 

Stocks to watch:   NVDA, CAG, LEVI, NVDA, META, AMZN, TSLA,    GOOGL, SQ, SLV,    Spec Names PLTR 

Pre-800ET
Earnings:  
Indices: COPX, BITO, SMH, KWEB, FXI, ARKK, XLK, QQQ, XLF, VIX, GLD, SLV, TLT, GDX
S&P500:  CAG, WYNN, F, META, NVDA, FCX, PARA,
Movers: LEVI, PLTR, CAG, CLSK, COIN, MARA, RIOT, F, META, VRT, NVDA, SQ, AXNX, UPST

Trade Idea: NVDA

NVDA potential long idea > 900 if large cap tech follows through from premarket. Daily expected move +/- 31 to target to upside 921 with squeeze potential above 920. Large put positions at 900 which can act as support or larger move lower down if breached.