.

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 – Bearish  global set-up

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

·         Yields: 30Y Bond +.24%  Currencies:  USA$ -.77%, CAD +.55%, YEN+1.78%,  BTC/USD-6%,  Vix: 21.5

·         News:  USA: 30Y bond auction 13ET;  Williams FOMC 1420ET
Stocks: BBY-.7%, TGT-2.6%, GTLB-6%, OKTA+12%, SE+6%, ONON+4.5%, EPS TSLA+2.9% Upgrade 
Overview: SPY 580.3  Expected move 7.3 Resistance 584 585 590   Support 578.6 576 575;  QQQ 493.8 Expected move 6.8 Resistance 495 500 504  Support 490 489.  Global indices are lower post the imposition of tariffs on Canada and Mexico and increase of Chinese tariffs.  Only macro moving data today is a 30y bond auction a 13ET and Williams, head of NY Fed speaking at 1420. Yen, bonds, gold higher is a textbook risk-off setup. China stocks are higher which is counter intuitive  but trade with USA is not the major trading partner. MAG7 and popular retail names continue to be distributed and ones with leveraged ETFS are the most vulnerable. TSLA is -4% on report Chinese mfg sales are down 47%; NVDA -4% on report that potentially devices shipped to Singapore were being shipped to China. Semis in general are being hit today. Bitcoin which had the weekend pop gave it all back and continuing weaken. SPY 580 is a bull/bear level corresponding to the put wall. SPX trader is selling 5905 and 5780 strikes and typically these are tested intraday. Vix term structure is inverted, meaning that short term futures are trading above longer dated and indicates that institutions are hedging with Vix and is a major warning signal that can escalate into a vol spike, therefore caution warranted.  So far the index drawdown has consisted of a unwind of momentum, crowded names and money has rotated into healthcare, staples, financials. If these sectors join the selling then the index can take the next leg down so pay attention.
Expected Move  SPX (5922-5777) SPY (591-576) QQQ (504-490) IWM (212-206)

Stocks to watch WBA, GLD, SLV, NVDA, TSLA, PLTR,   Speculative   OKTA, ONON, SMCI
Pre-800ET
Indices  UNG, GDX, GLD, KWEB, SLV, FXI,  IBIT, ARKK, ETHE, ARKG, ARKQ, QTUM, IWM, SMH, IGV, XLK, XLY

S&P500 WBA, SMCI, PLTR, TSLA, NVDA, ANET, AMD, UBER, TGT, BBY, AVGO, VST, META, UAL, CCL, MU, NCLH, WMT, INTC
Other OKTA, SE, ONON, BILI, BIDU, GOLD, JD, TCOM, SNY, LI, NVS,   SOUN, SMR, HIMS, RKLB, IONQ, OKLO, LUNR, GTLB 

Trade Idea: TSLA

COIN is short squeezing on the strategic bitcoin reserve tweet on the weekend. It is above the 230 call wall with potential squeeze to 250 and 260. IMO its a nonsense move but one can look for dips > 235 for longs and a move below 235 can lead to 230. HOOD MSTR RIOT MARA are similar setups where there is potential for squeeze or pullback from extreme stretching on 10% narrative and retail chasing.