.

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 – Slight bullish global set-up

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

·       Yields: 30Y Bond -.42% Currencies: USA$ +.21% CAD -.2% YEN -.5%  BTC/USD -1% Vix: 17.7

·       News: USA: GDP, Durable goods, UE claims 830ET
Stocks: CRM-3.5%, A-2%, EBAY-9.2%, NVDA+2.2%, SNOW+12.6%, VST+6.3% EPS  
Overview: SPY 597 Expected move 6.3 Resistance 600 601 602 605   Support 595; QQQ 517.7 Expected move 8.1 Resistance 520 523 525  Support 515 506.5. USA econ data: UE claims rose to 242k vs 222k; Core durable goods 0%m/m vs 0.2%; GDP price index 2.4% q/q vs 2.2%; GDP 2.3% inline. ** Breaking China tariffs 10% Canada/Mexico tariffs Mar4 and reciprocal tariffs Apr 2. NVDA had good earnings but only small move higher but helping to lift the QQQ and other MAG7 stocks which are higher ex-AAPL led by AMZN which has a news item. AI basket: MU DELL AVGO PLTR which have been declining are up premarket. SNOW has moved greater than the expected move and may continue however CRM is lower.  NTNX is a smaller software name that is strong premarket. Index implied volatility was elevated into NVDA earnings and it would be expected that the unwind would lead to a bounce like what has happened. The combo of higher UE claims and weak durable goods is likely increasing growth concerns which is causing some of the SPY bounce to fade. Tariff announcement this morning is positive for the US$ and hence negative for equity. SPX 6000 remains a bull/bear line in the sand as traders try to unscramble the messy macro situation.
 
Expected Move SPX (6018-5893), SPY (600.8-588), QQQ (522.7-506.5), IWM (218-213)

Stocks to watch NVDA, AMZN, SNOW, VST, CRM, EBAY Speculative CORZ, NTNX, IONQ
Pre-800ET
Indices IBIT, ARKK, ARKG, SMH, QQQ, ARKQ, ETHE, XLY, QTUM, UNG, GDX, GLD, TLT, XLP

S&P500 WBA, VST, NCLH, PLTR, ANET, NVDA, DELL, MU, TSLA, AVGO, CCL, AMZN, META, AMD, GOOGL, VTRS, FE, MRNA, KDP
Other CORZ, MARA, NTNX, SNOW, OKLO, NNE, VITL, HOOD, APP, BTDR, LUNR, SMR, RKLB, TEM, TDOC, PAYO, KC, HMY, IONQ, GFI, GDS, PBR, VNET, PBR 

Trade Idea: AMZN

AMZN is a potentially bouncing after a break of the 100sma and a classic reversal candle Tues. Quantum chip announcement may get people excited. Above 217.5 may see 220. Top of weekly expected move is 222 and 50sma is 227. Caveat the stock is bearish so risk that sellers will step back in.