.

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$ +.12% YEN -.01% BTC/USD +1.6% Vix: 16

·       News:  USA: GDP Q/Q second estimate; UE claims
Stocks: NVDA-3.4%, OKTA-12%, PSTG-13%, AEO-5.5%, DG-25%, CRWD-1.2%, AFRM+25%, BZ+6%, CRM+4.4%, FIVE+3%, NTNX+15%, BBY+14% EPS 

·       Overview: SPY 559.9 support 555 553 and resistance 562 565 SPY expected move +/- 3.9 QQQ 472.7 with resistance 475 478 480 support 465 463 460 expected move +/- 8. SPX5600 is a good bull/bear level to watch today. USA indices are higher premarket led by small caps and DJIA but SPY and NASI are also up. Indices bottomed 19ET Thurs and have been rising overnight into the NY open. Yields are higher and US$ higher post GDP print 3% vs 2.8% and UE claims 231k vs 232k LOL! which can be interpreted to indicate USA economy is still in good shape. NVDA earnings report was good, but not well above expectations which resulted in a drop which is reversing premarket as analysts raise target prices.  Lower end consumers are hurting as DG -25% on a earnings and revenue miss and BIG filing for bankruptcy. Potential post earnings runners: NTNX BBY AFRM DG. MAG7 ex-NVDA are trading higher with AAPL leading on a report of an increase in iPhone components being ordered. SPX5600, QQQ 470 are bull/bear levels based on options positioning. Elevated IV into NVDA print will have provided some fuel into the open; however PCE Friday remains a risk that can keep IV up. Last day of the month is usually bullish so we will see.

 Expected moves SPY(562-554) QQQ (479-463) IWM(219-215) SPX (5631-5553)


Stocks to watch AAPL, CRM, TSLA, BBY, NVDA, CRWD, PSTG, OKTA,  Spec Names   AFRM, NTNX 

Pre-800ET
Indices ETHE, IBIT, GDX, FXI, IGV, XLY, ARKK, EFA, IWM, XLF, UNG, SMH, XLK

S&P500 BBY, CRM, AAPL, NEM, TSLA, PYPL, LULU, SWKS, DG, DLTR, SMCI, NVDA, HPQ, CRWD, HPE

NASI PDD, ASML, AAPL, TSLA, PYPL, LULU, DLTR, NVDA, CRWD,
ALL AFRM, NTNX, BBY, ENLC, BZ, BILI, LI, CRM, MSTR, FIVE, TEM, UPST, GME, TS, COIN, DG, PSTG, OKTA, BIRK, DLTR, AEO, OLLI, DELL, SMCI, MODG, NVDA, TRMD, HPQ

Trade Idea: AAPL

AAPL is leading MAG7 and is trading higher on a report that they are increasing orders for iPhone components. AAPL is a safety stock and can benefit from weakness in NVDA. Call positions at 230 and above make it a bull level to lean on with an expected move into the end of week of 3.9. Stock is extended premarket so expect a pullback and upside targets 235, 240 into Sept20 expiration.