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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 +.03% Currencies: USA$ -.32% Vix: -0.2%

·         News:  EUR: German biz climate weaker than expected
Stocks: INSM+134%, CORT+30%, biotech squeeze GME+22% sold more shares 🙂 AGIO+21%, OKLO+14, AAPL+1.6%, report that China April sales much higher

·         Overview: USA SPY 530.3 with support at 527.2 and 525, and resistance at 531.7 and 534; SPY expected move +/- 2.2. QQQ 459.2 with resistance at 460, 460.9, and 461.5, and support at 455, 450, and 446.7; QQQ expected move +/- 2.9.  Global indices are flattish after a long weekend. USA indices are led by small caps with the speculative and high short interest bid. US$ lower and yields lower is providing a lift to commodities and should be generally supportive to equities. China announcing state sponsorship for semi development is perversely not impacting the stampede into semis and AI stocks. Could be the chasers into month end that want to show NVDA et al in their book. Biotech is a short squeeze group along with solars and renewable energy that started moving last week after an analyst declared that solars were AI stocks. High short interest in solars that have trouble making money and in theory the WH tariffs should hurt as the bulk of the material comes from China. MAG7 are a mixed bag premarket with NVDA and AAPL doing most of the lifting. Stocks reporting this week are getting the usual buy into the report, CRWD, CAVA are two of the names. Bitcoin is the only classic risk-on group not being bid premarket. Expecting a light volume day with no economic reports so 0DTE options are in control in what is usually a positive week despite decaying underlying market internals.  Today’s daily expected move levels: SPY (531.7-527.2), QQQ (460.9-455), IWM (206.9-204), and SPX (5327-5282). 

Stocks to watch NVDA, AAPL, DELL, VRT, CRWD, DKNG, GOOGL, TSLA

Spec Names CAVA, ONON, HIMS 

Pre-800ET
Earnings
Indices USO, XBI, GLD, XRT, IWM, XLK, MSOS, XME, FXI, XLE, EFA,  IBIT, UUP, TLT
S&P500 NCLH, NVDA, VST, ENPH, HBAN, FSLR, ABNB, AAPL, NEM, FCX, PYPL, CEG, DD, NRG, AMD
Movers INSM, CORT, GME, AGIO, OKLO, TDS, DELL, FLNC, ZIM, RUN, PAAS, CAVA, CLS, HIMS, FRO, NVDA, QCOM, VRT, VST, ENPH, ONON, SEDG, CRWD, DKNG, AY, SE, GCT, NVO, MSTR 

Trade Idea: CRWD

CRWD is a popular security stock which reports June 4 and security stocks are bid despite a poor reaction to PANW earnings. The expected move for the week is +/-13 and +/-36 into next week.  360 is the level with high call open interest and can be used as a trigger level.