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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 – Positive global set-up

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

·         Yields: 30Y Bond +.67% Currencies: USA$ -.05% Vix: -1.3%

·         News: USA: ISM mfg PMI 10:00 ET EUR: MFG PMI mixed China: Caixin mfg better than expected JPY: mfg PMI slightly positive
Stocks: GME+74%, RDDT+5%, AMC+27%, HelloKitty post is launching meme stocks again MSTR+3%, HOOD+3%, COIN+2.4% Bitcoin higher lifting the related names NVDA+3.5%, AMD+1.9%, QCOM+1.9%, MU+1.8%, AVGO+1.5% AI related semis are bid. NVDA and AMD announced AI chips at Taiwan Semi Conference SPOT+5.6% Price Increase
Overview: USA SPY 528.4 with support at 527 and 525, and resistance at 530; SPY expected move +/- 2.6. QQQ 453.8 with resistance at 454 and 455, and support at 452, 450, and 447.4; QQQ expected move +/- 3.3.  USA indices are following through following Friday’s late day pop. Macro is positive with yields and US$. Pre-market setup is risk-on with small caps leading and meme stocks (High short interest). NVDA AMD and AI related semis are bid on news from the Taiwan Semi conference. Bitcoin is higher and lifting the bitcoin related names which move on meme euphoria. Indices were oversold prior to the squeeze Friday and now back to value. SPY 530 is the top of the daily expected move and a level to watch for breakout or fade. Market is very sensitive to interest rates hence the 10:00 ET ISM mfg PMI is important with weak being good for markets. Today’s daily expected move levels: SPY (530-524.8), QQQ (454-447.4), IWM (207.3-204.3), and SPX (5303.5-5251). 

Stocks to watch NVDA, AMD, QCOM, GSK, CAVA

Spec Names GME

Pre-800ET
Moved > Expected Move Can Run NVDA, SPOT
Indices UNG, IBIT, XRT, FXI, ARKK, IWM, XBI, QQQ, XLK, MSOS, USO
S&P500 ADSK, PARA, NVDA, ENPH, BBY, SMCI, MU, AMD, QCOM, AVGO, FSLR, VST, WM
Movers GME, SRCL, NTLA, GPCR, RDDT, LI, UPST, BILI, MSTR, DNUT, HOOD, RUN, COIN, MARA, ARM, CLS, HIMS, GSK, ZIM, CAVA, NVO, GFI, BHP, FRO 

Trade Idea: TSLA

China EV sales were positive and meme stocks are in play. TSLA can usually do well in a meme stock environment.  Straddle approach, long > 177.5 with targets 180 and 185. Below 177.5 fade towards 175 and 170.  NIO and LI are other EV companies to watch today with NIO reporting this week.