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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

Color Key: Positive – Neutral – Negative

•Global Markets:  USA, Europe, Japan, China, Hong Kong Asia –  Positive equity global set-up

•Commodities:  Gold, Silver, Oil and natgas, Grains, Industrial Metals

•Yields: Yields are flat

•Currencies:  US $ +.03%; $Yen -1%

News: USA: Pending home sales, FOMC Barr 10ET; Canada: Budget proposal
•Stocks LULU 17%, MU 3%, PAYX 4%   Usual Suspects: FAANGMT: AMZN +.99%, TSLA +1.5%, AAPL +.65%, MSFT +.88%, NVDA 1.3%

•General: Leading:  Bitcoin, spec tech, small cap, energy, semis Lagging: Gold miners, China Internet

Overview: USA rose overnight, pulling back since 6:00 ET from overbought. SPY 398 with support of 395, and 390 has resistance of 400, and 405. SPY expected move +/- 2.3. QQQ 309.7 with resistance of 310, and 315 has support of 307.5, 305, and 300. QQQ expected move +/-2.1.  Indices are positioned risk-off premarket with most speculative stocks leading. No major economic catalysts so markets will be in the hands of the 0DTE traders. Watch for rotation to continue from large cap tech to other sectors i.e. pops in FAANGMT to be sold. SPY > 400 potential for short squeeze but SPX 4060 is likely resistance to quarter end. SPX 3950 held yesterday as large put positions covered, level that can act as support.

Stocks to watch LULU, MU, PAYX, AAPL, TSLA, BABA  Spec Names VKTX, COIN, ENVX

Pre-800ET
 Earnings LULU, MU, PAYX, JEF

Indices /btc, ARKK, LIT, IWM, XLE, SOXX, EFA, XLF, SMH, XBI, GDX, GLD, KWEB

S&P500 HIG, MU, IVZ, PAYX, TSLA, USB, CARR, PARA, MRO, USB, NCLH, NVDA, GOOGL, FCX, GM, NKE, UAL, ON, OXY, ROST, BBWI

IWM MSTR, FSLY, AI, ENVX, GT, URBN, FL, PLAY

WSB MSTR, RIVN, COIN, PLUG, TSLA, UPST, AI

Movers LULU, VKTX, PUK, XPEV, STM, RIVN, COIN, RIVN, UBS, MU, PLUG, MT, TSLA, UPST, AI, SHOP, NVDA, URBN, FL, JD, M, BILI

My Trade Idea: IWM

In my opinion, IWM is a straddle idea. IWM is strong premarket with potential to break out on a risk on squeeze > 175 or a fade candidate below 174.5. IWM expected move +/- 1.5.