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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, Bitcoin

·         Yields: 30Y Bond +.63% Currencies: USA$ +.06%  Vix: +.48%

·         News:  USA: USA retail sales 830ET CDN: CPI 830ET Eur: Trade balance 12.3B vs 18B; German ZEW 43.7 vs 48.1
Stocks: UNH+0.3% BAC+1.96% MS-2.6% SCHW-3.5% EPS SHOP +3.5% upgrade PLTR -1.8% downgrade AMZN+.5% Prime Day TSM+1.7% Intel ordering 3nm for INTC AI 🙂 TSLA +1.5% positive analyst MTCH+7.4% More activists; CHGG+7.9% upgrade DDOG+2.4% Upgrade

·         Overview: USA SPY 562.1 support 560 558.8 555 and resistance 564.3 565 SPY expected move +/- 2.75. QQQ 497.5 with resistance 500 505 and support 495 492.5 expected move +/- 3.7. USA indices are rising premarket since 3 AM but Europe is down on weaker econ data. USA retail sales are better than expected which is negative if good news is bad. IWM is leading the premarket as the rotation continues, its above the weekly expected move so extended but there is high short interest so who knows how far it can run. Financial earnings are a mixed bag with SCHW and MS lower. MAG7 led by TSLA and AMZN (prime day) but are not indicating a direction. If retail sales data temper the rate cut narrative, MAG7 may benefit at the expense of the S&P493.

Expected moves SPY (564.3-558.8) QQQ (499.9-492.5) IWM (219.6-214.8) SPX (5658.7-5603.7)


Stocks to watch  AMZN, TSM, SHOP, DDOG, BAC, TSLA, SCHW, MS   Spec Names   IREN, GFI 

Pre-800ET
Indices IWM, TLT, GLD, KRE, ARKK, MSOS, UNG, IBIT, UNG, SLV, XLY, SMH, USO, FXI, XLE, ETHE, EFA
S&P500  MTCH, BAC, EPAM, STT, TSLA, UNH, SYF, IBM, NEM, AES,   SCHW, MS, DLTR, YUM, DVN, OXY, XOM, SLB, JNPR
Movers MTCH, GFI, SHOP, IREN, SG, TXG, DDOG, BAC, JKS, TSM, AU, NYCB, HIMS, SEDG, DJT, SCHW, RIO, MS, RDDT, LI, MT, BHP, PLTR, EQNR, BABA

Trade Idea: AMZN

AMZN has pulled back with the rotation from large-cap growth to laggards. AMZN has seen selling from Bezos which has been pressuring the stock. AMZN Prime Day starts today and along with strong retail sales can potentially create a bid for AMZN. Long idea > 195 with a target 200. 192.5 is the must hold level.