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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 – Positive  global set-up

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

·         Yields: 30Y Bond -.67%  Currencies:  USA$  -.11% YEN -.42% BTC/USD +.84% Vix: 18

·         News:  USA: Housing price index 9ET; CB Consumer confidence 10ET China: PBOC announced will stimulate but haven’t yet – impact commodities and European assets higher

·         Stocks: AZO-2.9% THO-2.4%  EPS V-2.2% DOJ anti-trust risk
Overview: SPY 570 support 568 567 565 and resistance 570 572 575  SPY expected move +/- 2.5  QQQ 483.7 with resistance 485 486.2   support 481 480  expected move +/- 3.2. Global indices ex-Japan are higher post an announcement that China will provide financial stimulus. Major beneficiaries are commodities generally with metals, oil and softs higher; European stocks since China is a major trading partner and of course China stocks (my idea from last Fri was KWEB +6% today!!). Long yields are sharply higher which is typically negative for small caps and bond proxies like utilities and REITS. Japan has an interesting combo of lower Yen and lower Nikkei. V is lower on DOJ discussing anti-trust and DE was lower on Trump threatening tariffs if they relocate to Mexico. MAG7 muted with TSLA and AAPL leading. Today will be a test of whether the commodities and energy can stay up for the day. Both are out of favor with high short interest with caveat that China has said they stimulate but haven’t pulled the trigger. SPX5700 remains a good bull/bear level and 5750 a good upside target into Sept30 Opex due to JPM collared ETF which rolls then. 5650 is a good support level
  
Expected moves SPY(572.1-567.2) QQQ (486.2-479.8) IWM(222.6-219) SPX (5743-5694)


Stocks to watch TSLA, KWEB, JD, FCX, LVS, V, SNOW   Speculative FUTU BILI BEKE  

Pre-800ET
Indices KWEB, FXI, XME, USO, XLE, SLV, SMH, GDX, XLB, ARKK, KRE,  UNG, ETHE, TLT, XLU, UUP

S&P500 FCX, ALB, EL, LVS, WYNN, CAT, BIIB, CRM, TSLA, HES, HAL, SLB, TPR, OXY, V, INTC

NASI PDD, BIIB, TSLA, MU
Other FUTU, BILI, LI, BEKE, JD, TME, BABA, PDD, VALE, FCX, RIO, BIDU, TCOM, TSM, HE, MNSO, SNOW

Trade Idea: KWEB

KWEB is 6% higher today after PBOC announced they will be easing. Short term KWEB is extended and will likely pullback which can set-up a better entry point. Ideally > 27.5 Upside calls have been building in China stocks like JD BABA PDD which are held in KWEB. Would target previous pivot levels 32 and 35. Note the USA govt has been hostile to China companies like PDD and risk that some comments can threaten the recovery in these names which are extremely cheap fundamentally compared to the USA peers.