.

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 -0.5% Currencies: USA$ +.15%, CAD +.24%, YEN-.3%,  BTC/USD -.5%, Vix: 18.1

·       Stocks: DLTR +1.7%, GME+13.4%, CHWY+5% EPS
News:  USA: Durable goods 830ET; FOMC speakers UK: CPI lower than expectations AUD: CPI Below expectations
Overview: SPY 575.4 Expected move 3.4 Resistance 578.9 580 Support 575 572 570; QQQ 492.8 Expected move 3.98 Resistance 495 497 Support 492 490.  USA indices are flattish after Tues low volume tight range with no major economic data or major earnings to move markets ahead of Thurs and Fri GDP and PCE reports. Indices are at the top of weekly expected moves after the outsized move on Monday. Vol has cratered which has removed the put fuel which drove the Mon surge and also means that there is a lack of downside support should a negative catalyst appear. For today the indices are in the hands of 0DTE. SPY has been toggling around 575, a move below 574 can lead to downside with 570 support and a breakout potentially leading to 580 but daily expected moves are inside. MAG7 are mixed with TSLA NVDA GOOGL leading lower and AMZN, AAPL slightly positive. TSLA, AAPL, META, AMZN, GOOGL are above the weekly expected move, hence extended. With indices short term extended as well as many of the largest names, rotation potenti

·       ally into some of the staples or healthcare names that have been dumped as market rotated into MAG7. 

Expected Move SPX (5810-5743), SPY (578.9-572), QQQ (497-489.5), IWM (209.4-206)

Stocks to watch SLV, KWEB, AMZN, TLT, NVDA, TSLA Speculative GME, CHWY, VRT
Pre-800ET
Indices  /CL, KWEB, SLV, AMZN, GDX, AAPL, UUP, TLT, EFA, FXI

S&P500 DLTR, MU, FCX, NVDA, VST, TSLA, IP
Other GME, CHWY, SMMT, GBAB, TTE, MU, IONQ, SHEL, JD, VRT, SAP, SARO, DJT, MUFG, SNY, FRO, BTI, STM, IP, GSK, NVO, OKLO, SHOP

Trade Idea: CHWY

Trading sharply higher premarket following its Q4 2024 earnings report. The company reported earnings of $0.28, compared to estimates of $0.05, with sales of $3.25 billion exceeding expectations of $3.2 billion. Large call positions at 34+ and a high short float are a set-up for a gamma squeeze. Largest call strike is 37 which is an upside target with 35, 34 support levels on a pullback. Below 34 is a signal the there is no follow through.