.

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

**govt – government 

Color Key: Positive – Neutral – Negative

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

• Commodities:  Gold, Silver, Oil, natgas, Softs, Industrial Metals 
• Yields: Yields lower Currencies:  USA -0.4%
• News:  USA: Core PCE m/m 8:30 ET; UofM Consumer sentiment 10:00 ET Europe: CPI 4.3% y/y below expectations CDN: GDP m/m
• Stocks:  NKE +9.6% CCL +2.6% EPS;
• Overview: USA SPY 430.5 has support of 430 and 425 with a resistance of 432 and 435. I expect the SPY to move +/- 3.01, QQQ 360.5  displays a resistance of 362.1 and 365 with support of 360, 358, and 355. I believe the QQQ is expected to move +/- 4.07.  Global equity markets are risk-on ahead of USA PCE with yields and US$ lower. Today is a major quarterly expiration and the market seems to be front running put expiration as well as the usual first of the month flows. Large cap tech, China (Golden week front run) are leading with a combination of oversold and short covering catalysts. Semis are strong again today and with AMD NVDA above what I believed to be their expected move for the week, there is potential for a gamma squeeze higher or end of day fade. Today’s daily I think is expected to move levels: SPY (431.5-425.5) QQQ (362.1-353.9).  Two things to consider watching are Consumer sentiment at 10:00 ET and chatter regarding the USA govt shutdown which is unresolved. 
  
  
  
• Stocks to watch: NKE, CCL, AMD, FCX, AAPL, UUP      
• Spec Names: BMBL, PLTR, AI 

Pre-8:00 ET

• Earnings NKE, CCL
• Indices KWEB, USO, ARKK, XLY, EEM, EFA, SOXX, SMH, LIT, faangmt, EWZ, VXX, /btc, UUP
• S&P500 NKE, CCL, TRMB, VFC, ALB, FCX, ALK, SEDG, TSLA, AMD, FTNT, VTR, STT, APD
• IWM BMBL, EAT, FL, FOLD, CROX, AI, SMCI, CPE
• WSB BABA, AI, PLTR, COIN, CCJ, AMD, TSLA, AMD
• Movers GPCR, NKE, XPEV, BMBL, BUD, ONON, FL, LI, CROX, BILI, JD, CCL, AA, AI, COIN, ROIV, OPRA

Trade Idea: NKE

NKE has moved beyond what I thought the expected move was going to be post earnings which can lead to runaway continuation. Analyst reaction mixed with targets of 119-137 with JPM raising.  Currently 98.94 with large call OI at 100 which can act as resistance or acceleration above. Pullbacks > 96 may be buyable and move < 95 may indicate that the move is being sold.  FL, SKX, ONON, LULU are sympathy names.