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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 – Mild positive global set-up

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

·         Yields: 30Y Bond -.5% Currencies: USA$ -.04%, CAD +.3%, YEN-.64%,  BTC/USD-2.5%  Vix: 14.3

·         News: USA: NY Fed inflation expectations 11ET China: Politburo officially moving to a looser monetary policy with more stimulus. JP: CPI 0.2% y/y vs 0.4% resulted in weaker Yen Geopolitical: Syrian govt fell to rebels – uncertain what the impact is to energy markets. S Korea: Justice dept has banned president from travelling out of the country

·         Stocks: WDAY+8.5% APO+5.3% added to S&P500 replacing QRVO and AMTM;  KWEB+7.9% all China names lifting on potential stimulus; IPG +13.6% on potential merger with OMC;  PLTR+6.6% won a tiny govt contract, stock squeezing; NVDA-2% China investigating  anti-monopoly AMD-1.2% downgrade; Bitcoin-2.5% causing miners to move lower;  Metals, commodities all well bid on the potential of China stimulus
 
Overview: SPY 607.7 support 605 603 and resistance 610 SPY expected move +/- 2.2 QQQ 525.7 with support 525 523.5 520 resistance 529 530  expected move +/- 2.9. SPY and QQQ are quiet premarket after rising in the Asian session and falling in the European. Small caps are leading in the premarket. MAG7 are mixed with TSLA continuing to rampage towards the 400 level targeted by call buyers but NVDA below the key 140 level on news that China is investigating anti-monopoly practice (IMO continuing tit for tat with US govt). Setup looks like a breather for tech and rotation back into other sectors like financials, and industrials. China names are all up massively on the latest stimulus meme and moving the metals, commodities higher. Not the first time for this meme so need to take care chasing. PLTR is squeezing premarket on an insignificant US contract. Obvious squeeze name that is technically stretched.  SMCI received an extension to file its’ 10k/8k so its buy Mortimer buy. TSLA rumor of a new model but IMO the move is all about flow with 140 potential resistance or if breaks 140, it can streak to infinity and beyond. Econ news is light so 0DTE option buyers are in control with Wed CPI the next big data point. SPX  6100 is the key upside level and 6050 the key downside and in between can be a chop day.

Expected moves SPY (610-605.6) QQQ (529.4-523.5) IWM (241-236.8) SPX (6112-6068.5)

Stocks to watch TSLA, BABA, WDAY, SLV, PLTR, FCX, NVDA, AMD,  Speculative RDDT, APP, RIOT

Pre-800ET
Indices KWEB, FXI, UNG, GDX, SLV, XME, USO, GLD, XLB, ARKK, MSOS, XLE, EWC, IWM, XLY, IGV, ETHE, IBIT, SMH, TLT, XLK, QQQ

S&P500 IPG, SMCI, PLTR, DOW, FCX, PYPL, DOW, TSLA, NEM, ORCL, NKE, OMC, NVDA, AMD

ALL IPG, BILI, BEKE, FUTU, SMCI, WDAY, ASTS, PLTR, BABA, RIO, GFI, RDDT, APP, RIOT, MARA, OMC, NVDA, SOFI, TSM, COIN, MSTR

Trade Idea: KWEB

KWEB has popped on the meme that China will get more aggressive with stimulus. Call wall is 32 and above it potential to squeeze higher with next big strike 35. It’s a big move premarket and China stocks typically retrace intraday and they have been traded all night in Hong Kong so one can look for a pullback > 32 for a long entry. US premarket low 33 is a reference level. JD, BABA, BIDU, PDD are all individual names