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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 – Slight positive global set-up

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

·         Yields: 30Y Bond -1% Currencies: USA$ -.16% Vix: -1.23%

·         News: USA: ISM mfg PMI 10:00 ET EUR: German CPI 2.2% vs 3.3%; China: Govt PMI weak, private data better
Stocks: CHWY+10.8% Roaring Kitty; SPR+3.9% Boeing buying SPR; IREN+3.8%. CLSK+2.8% Bitcoin Miners Bid with bitcoin bounce; TSLA+1.5% Rising ahead of Tues delivery numbers; Banks: Stress tests passed, banks bought
France: First wave of election as expected, Euro bought 
Overview: USA SPY 545.2 with support at 545, 543, and 541, and resistance at 546, 547.2, and 550; SPY expected move +/- 3. QQQ 480.4 with resistance at 481, 482.5, and 485, and support at 480, 478, and 475; QQQ expected move +/- 3.4. Macro set-up is mixed with yields strongly higher and US$ slightly lower. US$ is slightly lower on Euro shorts covering after election went as expected. Usually long yields +1.3% is negative for small caps, financials, staples and speculative stocks in general but that is not reflected in premarket. USA indices are slightly higher which is typical as first of the month flows come into the market. ISM data at 10:00 ET may be market moving with good data bad for markets. NVDA and AI semis showing some weakness being masked by rotation into other MAG7 with AMZN the lead pony and TSLA poised to move on the back of China EV deliveries good and TSLA reporting Tues. Financials are currently bid higher based on stress tests passing and some announcing buybacks with earnings coming soon which is bucking the higher yields. Commodities are receiving the Pavlovian reaction with US$ pulling back which is contra the weak Chinese data. Interesting move in coal due to an Aussie mine fire (WCC BTU).  Bitcoin is bouncing, lifting the miners (IREN CLSK MARA). Roaring Kitty is moving CHWY and may provide some energy into other high short interest names if the market can catch fire today.  Today’s daily expected move levels: SPY (547.2-541.2), QQQ (482.5-475.8), IWM (204.6-201.2), and SPX (5490-5430). 

Stocks to watch TSLA, AMZN, FCX, IBIT, NVDA, MU, TLT

Spec Names CHWY, DJT, HUT 

Pre-800ET
Indices IBIT, USO, FXI, ARKK, GLD, XLE, XLY, EFA, IWM, XLF, UNG, TLT, US$
S&P500 CEG, TSLA, WRK, SMCI, MU
Movers CHWY, HCC, SPR, BTDR, BEKE, IREN, HUT, LI, MARA, DB, SNOW, MP, CLSK, TTE, DJT, BTU, GOGL, GME, FRO, NEP, MU, SMR

Trade Idea: T

Telecoms are breaking out in spite of higher yields. T is extended so this would be a risky momentum idea. GS has set a price target of 22 and DB has a target of 26. Dividend is 5.8% with ex-div Jul10. Large number of 20 strike calls which is a target.