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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 – Negative global set-up

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

·       Yields: 30Y Bond +1.0% Currencies: USA$ +.09%, CAD -.16%, YEN+.6%, BTC/USD +2% Vix: 21.4

·       Stocks: PVH+16% EPS; JNJ -3.8% lost lawsuit re: Talc powder case
News: USA: ISM mfg PMI, JOLTS 10ET EUR: CPI estimate below expectations CDN: MFG PMI 930ET

·       Overview: SPY 556 Expected move 6.6 Resistance 560 565 Support 555 553 ; QQQ 467 Expected move 6.4 Resistance 470 475 Support 465 463.  Global indices are mixed premarket with USA indices lower, Japan weak, China lower but Europe strong. Bonds strong, gold continued strength, Yen strength, Vix higher with inverted Vix futures is a classic risk-off set-up. USA index bounce Monday was largely mechanical with the roll of the large JPM collar plus end of month rebalance and not necessarily a change of investor sentiment ahead of the uncertain tariff announcement April 2. There is economic data at 10ET that will move markets. MAG7 are a mixed bag with TSLA standing out as positive ahead of delivery data this week and NVDA slightly positive and AAPL which was strong Monday pulling back the most. Bitcoin is pulling back premarket after an overnight squeeze and one to watch as Mon they ramped it and then slammed it. JNJ is lower after losing a lawsuit associated with the talc case and can weight on XLV due to the market cap. Gold is technically overbought but continues to move higher and lifting the miners. With Wed the big tariff day, the 0DTE crowd likely in control and premarket 5600 is a key decision level (SPY 556) for bulls and bears. With Vix futures inverted, the takeaway is institutions are short term hedging due to the uncertainty surrounding tariffs and reactions from trading partners so take care.

Expected Move SPX (5678-5546), SPY (566-553), QQQ (475-463), IWM (202-197)

Stocks to watch TLT, TSLA, GLD, MU, PVH, AAPL, JNJ Speculative GME, IONQ, CELH, HSAI
Pre-800ET
Indices ETHE, IBIT, TLT, GLD, UUP, UNG, SLV, XLF, SPY, XLK, QQQ, FXI

S&P500 TSLA, MU, JNJ, LUV, INTC
Other HSAI, HUT, XPEV, GME, AU, IONQ, GFI, CELH, KDP, MARA, TSLA, MSTR, JNJ, LUV, AAL, INTC 

Trade Idea: CELH

CELH once a hedgie/retail fave was suffering from a buildup of product in the channel but has got a new wind with the appointment of a new president from PEP and the recent IPO of another energy drink company. It is technically extended and not for a conservative investor but traders are loading up with calls at 40 and higher and can potentially move it up. KDP is also moving so it seems that for now energy names are being bought, perhaps as a higher beta staples play. Caveat is RFK is unlikely a fan and a negative tweet or executive action is a risk. Pullback > 35 is a potentially safer way to enter a long.