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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, Bitcoin

·         Yields: 30Y Bond +.55% Currencies: USA$ +.24% Vix: -1.7%

·         News: No major economic data. Israel-Hezbollah heating up but oil lower. Trump speech at bitcoin conference boosting bitcoin.
Stocks: ON +6% Beat with revenue -17% y/y PHG +11% MCD +5% Revenue -6% Y/Y ABT -5.5% $495M jury award
Overview: Pre: PCE, USA, SPY 547 with support at 545 and 540, and resistance at 548.7 and 550; SPY expected move +/- 4.3. QQQ 467 with resistance at 468.3, 470, and 475, and support at 464, 460, and 457; QQQ expected move +/- 5.3. There is no economic data today and with traders hedged over the weekend, USA indices are doing the expected bounce. Watch the top of the expected move for rejection or trend day higher. QQQ and IWM are both leading so potential for correlation today. Macro is mixed with long yields lower but US$ higher.  Major currencies are lower relative to US$, which is weighing on commodities. MAG7 are led by TSLA which received upgrades and option market is positioned bullishly. META, MSFT AMZN which are reporting this week are bid but AAPL is lagging. Bitcoin related names COIN, MSTR, CLSK, MARA are all higher after the bitcoin conference on the weekend with positive comments from Trump. Indices are negative gamma which leads to higher volatility in either direction with 5560 the flip level. Over the last few days there has been a trend of buying in the morning and selling into the close. There is a potential for a trend day higher given the pullback in MAG7 but risk that they can continue to sell the pops.

Expected moves SPY(548.7-540.1), QQQ (468.3-457.7), IWM(227-221), and SPX (5502-5416)

Stocks to watch TSLA, GOOGL, META, PHG, GE, AAPL

Spec Names CLSK, COIN, CELH

Pre-800ET
Indices ETHE, IBIT, ARKK, MSOS, KRE, IWM, SMH, TLT, QQQ, XBI, SPY
S&P500 ON, AKAM, TSLA, EW, GOOGL, CRWD, MU, META, GE, ABT, MGM, NDAQ, BMY, SCHW
Movers PHG, GH, ON, ZIM, CLSK, HUT, MARA, MSTR, COIN, RIOT, CORZ, BABA, AZN, FRO, AKAM, CELH, TSLA, BTI, UPST, JMIA, AFRM, RUN, HOOD, IART, SNDX, STLA, HE, MGM, PDD, ARM, BMY, ING, BHP

Trade Idea: TSLA

TSLA is up premarket with positive comments from Piper and Morgan Stanley regarding self-driving and robo taxis. TSLA is call heavy unlike other MAG7 with 225, 230, 235 the major levels and a weekly expected move of +/-12.  Long idea on either a break over 225 or a pullback > 220.