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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 – Negative global set-up

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

·         Yields: 30Y Bond +.3% Currencies: USA$ -.03% YEN +.20% BTC/USD -1.3% Vix: 19.45

·         News: USA: Non-farm payrolls 8:30 ET; UE rate; FOMC Waller ET CAD:  Employment report

·         Stocks: AVGO-7.6%, PATH+8%, GWRE+6.7%, IOT+5% EPS  

·         Overview: SPY 547 with support at 545 and 543.8, and resistance at 550 and 555; SPY expected move +/- 5.8.  QQQ 459 with resistance at 460, 462, 468, and 470, and support at 455 and 450; QQQ expected move +/- 6.8.  USA indices were at the bottom of the daily expected move but have bounced with the release of USA employment data. Non-farm payrolls 142k was lower than consensus but better than previous. UE rate 4.2% was lower than consensus. Canadian jobs slightly less than expected.  Jobs report seems to be interpreted as goldilocks, it can allow FED to cut rates but no imminent recession. US$ is retreating post the report and equities are bouncing. AVGO report was the big one and AVGO fell more than the expected move with its forecast uninspiring. AVGO pulled down the usual suspects: NVDA AMD MU but they too are bouncing with the market. Implied volatility was very elevated into the jobs report and the unwind of IV will provide upward fuel as market makers unwind hedges. There should be a reflexive bounce but the question is will it last into the open and throughout the day. MAG7 are positive led by TSLA(yesterday’s fantastic idea) NVDA, META, AAPL.  LULU is a dark horse idea, CEO bought $1M in stock and may cause a short squeeze. GWRE is a post earnings runner idea.
Expected moves SPY (555.4-543.8), QQQ (467.8-454.3), IWM (216.9-206.9), and SPX (5561-5445)

Stocks to watch TSLA, NVDA, AAPL, META, LULU, AVGO

Spec Names PATH, GWRE, IOT

Pre-800ET
Indices ETHE, IBIT, SLV, USO, GDX, GLD, ARKK, MSOS, SMH, QQQ, XLK, UUP, SPY, KRE

S&P500 LULU, NEM, AVGO, SMCI, AVB, ALB, MU

NASI AZN, LULU, AVGO, SMCI, MU, LULU
All BOWL, PATH, IOT, SMAR, X, CHWY, AU, NVO, TSLA, COIN, AVGO, BE, MBLY, ARM

Trade Idea: TSLA

TSLA is again leading MAG7 and potentially breaking into the gap or reaching resistance where it can return to earth. 235 is a high call level today with upside calls to 240, which is the bottom of the gap. Alternative is look for rejection which may happen later in the afternoon as calls expire. Downside targets 230 225. Potential for gamma squeeze above 235 as TSLA well above the weekly expected move and logically should pull back and hence smart money is shorting and will get burned:)