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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 – Neutral global set-up

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

·         Yields: 30Y Bond +.5% Currencies: USA$ -.07% Vix: +1.3%

·         News: USA: Geopolitical: Israel attack on Iran last night being downplayed with Iran saying not planning to retaliate.
Stocks: ISRG+3.6%, NFLX-6%, AXP-1%, PG-.9%, SLB-1.5%, HBAN-.6%, EPS, TSLA -1% cyber truck recall, SHOP upgrade Bitcoin stocks are higher ahead of bitcoin halving Saturday

·         Overview: USA SPY 499.3 with support at 495 and resistance at 500, 504, and 505; SPY expected move +/- 4.8.  QQQ 423 with resistance at 425 and 430, and support at 420, 417, and 415; QQQ expected move +/-6.4.  USA indices dropped overnight on news of Israel attack overnight but reports that Iran was downplaying and not responding has currently led to a rebound. Gold and Oil pulled back. Today is a large Opex with an AM settlement expiring at the open and PM settlement at the close. May provide short term relief to stocks that are put heavy if puts are not rolled. Indices are negative gamma which leads to higher volatility and SPX 5000 still a key level. Week following Opex is usually more volatile as the option market provides less support. NFLX earnings are weighing on Nasi. MAG7 being led by META and NVDA and potentially they will try yesterday’s call attack which was later sold down. Bitcoin names may offer day trade opportunities. Bitcoin was hit last night so clearly trades as a leveraged risk asset. Geopolitical will remain a concern since there is no lasting resolution but for now is diminished until the next missile is launched.  Today’s daily expected move levels: SPY (504.3-494.8), QQQ (429.8-417), IWM (196.3-189.4), and SPX(5059-4964). 

Stocks to watch BITO, ISRG, META, NVDA, TLT, SHOP, NFLX, TSM, AXP

Spec Names MARA, CLSK

Pre-800ET
Earnings NFLX, WDS, PPG, WAL, PF, AXP, SLB, WIT, FITB, HBAN, RF, ISRG
Indices VIX, BITO, TLT, KWEB, GDX, SMH, QQQ, IWM
S&P500 PARA, FSLR, GL, NFLX, ON, MU, SLB, TSLA, IP, PG, DIS
Movers MSTR, SHOP, CLSK, COIN, MARA, JWN, LI, ARM, JD, TSM, EQNR, AU, VST, ROKU, FUTU, BILI, CVNA, NU, CPNG 

Trade Idea: NFLX

NFLX pullback on earnings beat but reducing some reporting. Premarket low 568 is still above the expected move target of 560, which is a target should the price continue to fall. Should 560 break, a larger move is possible to 550. A move > 575 may indicate that a bounce to 585 is possible. Options room members in either put calendar, or put butterfly must close today for a healthy profit and watch for potential bounce as shorts cover.