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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 – Positive global set-up

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

·         Yields: 30Y Bond -.46% Currencies: USA$ +.17% Vix: -3.8%

·         News: CDN: Housing data China: No change to prime rates
Stocks: VZ+1.9% EPS TSLA -4% China price cuts
Overview: USA SPY 498 with support at 496, 495, and 490, and resistance at 499 and 500; SPY expected move +/- 4.9. QQQ 417 with resistance at 420 and 425, and support 415, 410, and 407; QQQ expected move +/-6.6. Global equities are bouncing after last week’s softness and with no geopolitical events and no economic data. Puts and shorts bought for the weekend normally lead to a bounce and what will be important for bulls is whether the bounce is sold as has been recent history. Macro setup is not positive with $US and yields higher which is a caution signal. Gold and oil are lower due to reduced geopolitical concern. Bitcoin higher post halving and has been trading as a risk-on asset. NVDA, META, AMZN are the best MAG7 and TSLA is still declining. Indices are negative gamma hence look for larger moves in both directions. Today’s daily expected move levels: SPY (499-489), QQQ (419.9-406.7), IWM (195.4-189), and SPX (5004-4906). 

Stocks to watch META, AMZN, NVDA, CRM, ENPH, CLSK, NFLX, TSM, NEM

Spec Names SE, SMCI 

Pre-800ET
Earnings VZ
Indices IBIT, KWEB, ARKF, FXI, XBI, ARKK, XLF, IWM, SMH, QQQ, DIA, SPY, XLK, SLV, VIX, COPX, TLT
S&P500 CRM, VZ, GL, UBER, ENPH, CCL, META, AMZN, TSLA, SMCI, NEM
Movers SE, CLSK, SNAP, MARA, MSTR, BILI, COIN, FUTU, AZN, GCT, STLA, LI, INFA, AU, PAAS, CNHI, EH, GFI, MAG, AEM, AGI, GOLD, WPM, FRO, TSM

Trade Idea: AMZN

AMZN is bouncing premarket after last week’s selling. GS upgrade ahead of earnings is a positive. Premarket 176. Can consider long above or as long as pullbacks > 175. Long target 180 and 185. Below 175, fade targets 172.5 and 170. Expected move for week +/-6.8.