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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 – Neural – 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 -.05%  Currencies:  USA$  -.07% YEN -.03% BTC/USD -0.22%  Vix: 18.6

·       News:  USA:  Richmond Mfg Index  Canada: Industrial product price index 830et

·       Stocks:  DHR+1.6%, MMM+3.4%, GM+.96%, PHM+.5%, SAP+3%, FCX+1.3%, GE-4.8%, KMB-3%, LOGI-8.2% EPS  

·       Overview: SPY 581.7 support 581 580 and resistance 586 585 SPY expected move +/- 2.6 QQQ 493.5 with support 491 490 resistance 495 497.6  expected move +/- 3.3. Global indices are generally lower premarket ex-Chain. USA SPY is outperforming IWM which was weak Monday. Monday USA equity breadth was weak as long yields rose sharply. 10Y bond futures are at the bottom of the weekly expected move hence extended with potential for a bounce from oversold. Higher yields are usually negative for bond proxies like Reits, Utes and regional banks with large bond holdings. USA equities were generally weak Monday however NVDA was able to support the indices. Premarket NVDA is positive but the remainder of MAG7 are red. SPY is currently near the bottom of the daily expected move. Indices are still positive gamma which means dips will be bought and rips sold but can see violent rotation. Gold and silver are up again premarket but need to take care as volatility works in both directions. SPX 5800 remains an important bull/bear level.

Expected moves SPY(587.3-581.9) QQQ(497.6-491.3) IWM(227.4-224) SPX(5891.7-5837.7)


Stocks to watch TLT, NVDA, SLV, GE, SCHW, KMB   Speculative DJT

Pre-800ET
Indices SLV, USO, GDX, US$, GLD, XLE, KWEB, TLT, ETHE, XLB, UNG, XLU, EFA, XLY, IBIT, IWM, KRE, ARKK

S&P500 MMM, PM, FSLR, DHR, RTX, PNR, SHW, GE, KMB, DECK, IPG, HD, LMT, VST, UBER, GM, LMT

NASI PDD, ASML, AZN
Other FLR, ASPN, MARA, CLSK, FRO, SMR

 

Trade Idea: GE

GE premarket has moved lower greater than the expected move post earnings. Earnings beat but revenue missed. Stocks that move > expected move can continue in the same direction. Premarket 182.3 with put positions at 180 which can act as support or acceleration lower. 50sma at 178 is another potential support level.  Expect a short covering bounce/retracement on the open but ultimately look for a long entry either off 180 or 50sma once the dust settles over the next few days with caveat that the 50sma needs to hold.