.

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 equity global set-up

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

·       Yields: 30Y Bond +.6% Currencies:  USA -.08%

·       News: USA: CPI; UE claims 8:30ET; 30Y Bond auction 13:00ET; Bitcoin ETFs approved Europe: Italian Ind Prod -1.5% m/m
Stocks: KBH -2.4% INFY +1.7% lEPS
Overview: USA SPY 477.7 displays support of 475 and 473 with resistance of 480. I expect the SPY to move +/- 3.2. QQQ 410.4 shows resistance of 410 and 412.3 with support of 405 and 400. I expect a move of about 3.8. The USA indices are higher premarket led by small caps and tech. Macro factors are supportive with long yields and US$ lower with higher oil contrary. CPI print I believe will be market moving but premarket appears to be front running CPI not overly high. Should CPI not be overly high, the drop in IV post the print can be supportive to markets. In my opinion, indices are configured risk-on ahead of CPI and IF CPI is deemed ok, I will look for a continuation in spec tech, small caps, precious metals with assumption US$ lower and yields lower BUT converse is also true.  Bond auction at 13ET may be market moving so take care.  Breaches of daily expected move can lead to outsized moves. Today’s daily expected move levels in my opinion: SPY (479.8-473.3)  QQQ (412.3-404.7), IWM (199.5-190.7) SPX(4815.8-4751.1). 

Stocks to watch AMZN NVDA NFLX OXY AAPL   Spec Names: SMCI HUT

Pre-8:00ET
Earnings   KBH INFY

Indices /btc USO KWEB ARKF ARKK GDX TLT EEM SMH EEM SOXX IPO XLE XOP VXX

S&P500 NFLX NVDA AAL OXY MU  C

IWM  MARA RIOT MSTR SMCI AI RXRX   LPG KBH FRO
Movers HUT MARA COIN HOOD ZIM SQM NFLX FUTU CHWY SQ AU ARM PLTR CRWD     LPG KBH DB BUD C SNAP U

Trade Idea: NFLX

NFLX is +1.8% premarket and holding up post CPI print. Expected move +/ 2.3 with daily expected move 490-478. Potential for squeeze > 490. Pullbacks > 485 are a potential short term long. Momentum long > premarket high