.

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 – Negative global set-up

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

·       Yields: 30Y Bond-.62% Currencies:  USA$ +.4%, YEN -1.14%, Vix: 27.8

·       News:  Japan: Nikkei futures were limit up overnight, Yen down, may be stablizing
Stocks:  PLTR+11%, LCID+11%, CSX+2%, MPC+1%, UBER+8%, KVUE+7.5%, CELH+2.5%, HIMS-2%, ZI-14%, CHGG-17%, EPS
GOOGL lost antitrust case which will impact revenue from GOOGL to AAPL
Overview: SPY 520.8 support 520 515 and resistance 523.8 525 526.8  SPY expected move +/- 9.4. QQQ 437.8 with resistance 440 445 447.8 support 435 430 425 expected move +/- 10. USA indices have bounced overnight but the rest of world ex-Korea are lower in their native currency. Vix term structure remains inverted which is indicative of short-term risk. The indices are in negative gamma which means strong moves in either direction or possible. SPX5200 is a major put level which Monday acted as a pivot and worth watching today. There will be day trading opportunities in post-earnings names and MAG7. Much of the positive action in MAG7 Monday was closing of puts rather than call buying and would like to see call buying to have more confidence in a bounce. Vix term structure remains inverted which is indicative of short term risk. IMO USA indices are still fragile and impact of the recent decline is still unknown. IV is high which makes options expensive hence spread trades are preferred overbuying single options. Premarket leaders are reflexive bounces in bitcoin, semis and technology names. Expected moves SPY(526.8-508) QQQ (445.4-425.4) IWM(207.2-197.2) SPX (5280-5092)


Stocks to watch  NVDA, TSLA, PLTR, UBER, KVUE, AAPL, CHGG, Spec Names LUMN, UBER, ASTS  

Pre-800ET
Indices IBIT, MSOS, ARKK, SMH, ETHE, XLK, XBI, ESLV, USO, FXI, EFA, TLT, GLD

·       S&P500 UBER, KVUE, TAP, CRWD, CAT, CEG, NVDA, KKR, LLY, MRNA, INTC, DAL, BLDR, IP, AAPL
   

Trade Idea: NVDA

NVDA is one to watch today. Monday rebounded on report that Blackwell was delayed and USA govt wants to investigate. Large call positions at 100 make it a line in the sand with options market pricing +/-9 for the week. Upside levels 104,105,107 and downside 96, 95.