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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 – neutral global set-up

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

·       Yields: 30Y Bond -.03% Currencies: USA$ +.13% YEN -.23% BTC/USD -.39%  Vix: 21.0

·       News:  USA: CPI, UE claims 830ET China: Some action by PBOC to improve liquidity
Stocks: DAL-3%, DPZ+0.44% EPS TSLA+1.15% Robo taxi day
Overview: Pre CPI SPY 577.4 support 575 573 571 and resistance 580 581 SPY expected move +/- 4.2 QQQ 492.8 with resistance 495 498  support 490 588 487 expected move +/- 4.7. Pre CPI macro setup is slightly negative with long yields higher and yen higher. *** CPI Core CPI 0.3% vs 0.2%; CPI M/M 0.2% vs 0.1% Initial Job claims 258k vs 230k *** Reaction to data was minor weakness in equity but 10y yield fell slightly so IMO market is torn between inflation concerns which should keep Fed from cutting and higher unemployment which would support cutting. Indices are short-term extended which but positive gamma positioning should lead to dips being bought with large institutional position suggesting SPX key level 5745. TSLA robo taxi event and AMD AI event puts both names in play. AMZN leading MAG7 with an upgrade. China stocks are bouncing with some additional stimulus actions by PBOC. Hurricane related stocks such as GNRC, HD, LOW and materials stocks like BLDR are worth watching post Milton; whether they continue to be bought or it’s a sell the news. Tech stocks have had a good last 2 days, especially profitless or high valuation names, keep an eye for continuation or profit taking. Finally NVDA an semis need to be on the radar screen as NVDA is dominating option volume with 130 the key support level

Expected moves SPY(581.3-573) QQQ(498-488) IWM(221-215) SPX(5834-5750)


Stocks to watch AMZN, TSLA, NVDA, META, AAPL Speculative CELH 

Pre-800ET
Indices FXI, USO, US$, IBIT, XLE, KWEB, UNG, ETHE, TLT, XLI, EFA, EWC, SMH, IWM

S&P500 CVS, NKE, TSLA, DPZ, DAL, UAL, GNRC, AAL, VZ, PYPL, T, PFE, LUV

NASI TSLA, PYPL, ASML
Other GXO, CELH, TCOM, SYM, TROX, XPEV, MSTR, ZM, FRO, DJT, CVS, JKS, TXG, TD, DAL, GNRC, UAL, PYPL



 

Trade Idea: AMZN

AMZN is a premarket winner with an upgrade and good prime-day results. Premarket 187.7 with a call wall at 190 which can lead to higher levels if broken. One can use 187.5 as a tight stop or look for pullback > 186.5, Typically when there is selling in some MAG7, they rotate into other names to support the market and AMZN is a potential candidate today.