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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 – Slight positive  global set-up

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

·         Yields: 30Y Bond -.13%  Currencies:  USA$ -.76%, CAD +.67%, YEN+0.1%,  BTC/USD+1.3%,  Vix: 20.9

·         News:  USA: ADPjobs 77k vs 141k; ISM Service 10ET  EUR: Discussing increasing spending China: Plenary underway
Stocks: CRWD-6.8%, CPB-6.3%, ANF-9%, BOX-5%,  FL+1% EPS 
Overview: SPY 577.1  Expected move 7.1 Resistance 580 584 585   Support 575 574 570;  QQQ 496.8 Expected move 8 Resistance 499.8 503.5  Support 494.8 490.  USA indices are mildly higher after ADP jobs report which was weaker than expected and adds to the narrative of USA slowing. ISM Service report 10ET may be very significant for indices today. Foreign markets are strong with Europe discussing more spending and China Plenary Meeting discussing greater growth. US$ lower as market is pricing in more rate cuts due to slowing economy coupled with potentially China growth is positive for most commodities ex-oil which is lower due to OPEC not cutting.  MAG7 are are all positive premarket led by the always volatile NVDA and the oversold AMZN. Bitcoin bouncing is lifting all of the usual suspects like MSTR, COIN, MARA. Earnings reports generally weak with CRWD in the security space. CPB in staples and ANF in retail all lower. Tariff story remains confused with Lutnnick suggesting that today there may be some relief to Mexico and Canada. Remains to be seen but another tapebomb may be lurking at some random time today. USA indices are negative gamma which means large intraday.  moves are to be expected.  The large SPX Iron Condor seller has strikes at 5840 and 5705 which are potential targets for the hedgefunds to target today. SPY 495 is a level to watch as below can lead to 490 put wall and above can bounce to 500. Or ignore USA market and follow the strength in Europe and China or the metals.

·          Expected Move  SPX (5848-5707), SPY (584-570), QQQ (503.5-487.6), IWM (210-203)

Stocks to watch NVDA, FCX, FXE, DB, CRWD, ANF, CPB,  Speculative   ASTS, LUNR, MARA
Pre-800ET
Indices  IBIT, KWEB, ETHE, FXI, UNG, FEZ, EFA, XME, SLV, USO, US$, XLE, GLD, GDX, XLP

S&P500 MRNA, GM, FCX, ANET, PLTR, PYPL, SMCI, CRWD, CPB, ED,
Other DB, YMM, VNET, GDS, STLA, MT, NVO, KC, XPEV, ASTS, JD, STM, BABA, BILI, LUNR, IONQ, COIN, ANF, GOGL, CRDO, BOX, HIMS

Trade Idea: KWEB

China stocks are higher with the Plenary meeting discussing improving growth plans. KWEB is extended premarket and approaching prior resistance. Momentum traders can consider long > 35.50 with target 37+ or look for a pullback >34.5