.

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 -.13% Currencies:  USA$  +.09%, YEN  -.66% Vix: 19.25

·         News:  USA: NY Fed Inflation Expctations 11ET Oil: OPEC cut 2024 and 2025 growth forecast CAD: Building Permits 830ET
Stocks:  MNDY +9%, BEKE+4%, GOLD+2.4% EPS  SE+1%, NU+1%, BABA+.7%, WMT+.6% Reporting this week and can see buying ahead of report  KEY+20% BNS taking 15% ownership SBUX+2.6% Starboard activist involved

Overview: SPY 534.5 support 531 530 527 and resistance 535 539 540  SPY expected move +/- 6 QQQ 452.3  with resistance 455 457 support 450 445  expected move +/- 5.4. USA indices higher premarket led by Nasi with IWM lagging. Yen is lower which is positive and with Japan on holiday there may be less impact today. No major economic data therefore the 0DTE trading will dominate and with volatility lower continuation higher is the lean.  Metals (silver, copper, gold) are bid today, likely a dead cat bounce based on front running a weaker US$ post CPI. MAG7 all are up with NVDA, AMZN, MSFT leading for now, no news but if carry trade selling is slowed for now, buybacks can start and shorts can cover. Opex this week is usually supportive at the front part of week ahead of Wed USA CPI.  Volatility has retreated however Vix futures are still inverted in the short term which means that risk has not totally dissipated.  Expected moves SPY(539-527) QQQ (455.8-445) IWM(209-204) SPX (5392-5296)


Stocks to watch SLV, SBUX, NVDA, AMZN, UNG, QCOM Spec Names MNDY, MARA  

Pre-800ET
Indices UNG, ETHE, SLV, GDX, USO, GLD, FXI, XLE, XME, IBIT, IWM

S&P500 KEY, SBUX, LLY, FCX, NEM, NVDA, LVS, QCOM, PGR

NASI SBUX, NVDA,  QCOM
IWM FRO, ASAN, HIMS, LTH, SATS, MARA, MSTR

Trade Idea: NU

NU is a digital banking company reporting earnings Aug13  AMC. This is a run into earnings idea. Call positions building at 13, 14, 15 strikes. Long idea > 12.5.  Note: WMT BABA SE all report this week and may see a run into earnings.