.

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 +.28%  Currencies:  USA$  -.13% YEN +.52% BTC/USD -.13%  Vix: 19.7

·       News:  USA: JOLTS 10ET CAD: BOC rate decision EUR: 
Stocks: ZS -17%, PD -11.4%, ASAN -13.5%, DLTR -10.8%, HRL -7%, DKS -1%, GTLB +12% EPS NVDA -2% USA DOJ antitrust subpoena 

·       Overview: SPY 549.9 support 547.9 545 and resistance 555 556.3 SPY expected move +/- 4.2 QQQ 458.6 with resistance 460 465 466.8 470 Support 456.8 455 450 expected move +/- 5. Global indices lower overnight with Korea and Japan leading to downside. Yen is higher on comments that Japan may continue to increase rates which is negative for the carry trade. Nasi is leading to the downside with semis weak with catalyst du jour NVDA served with an anti-trust subpoena. AMD is higher on the notion that they can benefit. USA indices are below the weekly expected move, hence oversold but dealers are in negative gamma where selling will lead to selling. SPX5500 is the bull/bear level to watch today. It would be normal for indices to bounce on the open but care should be taken at 10ET with the release of the JOLTs report and USA factory orders. Semis and NVDA are one sector to watch for either continuation lower or bounce. Security names are moving wth ZS earning; dollar stores slammed with DLTR earnings and spec tech names reports generally weak ex-GTLB.  Vix futures are not yet inverted but getting close which is a strong warning signal that hedging is increasing so take care if daily expected moves break, especially SPX5500.
 
Expected moves SPY(556.3-547.9), QQQ (466.8-456.8), IWM(215.4-211.4), SPX (5570.9-5486.9)


Stocks to watch AMD, NVDA, ZS, DLTR  Spec Names GTLB

Pre-800ET
Indices UNG, KWEB, SLV, FXI, XLU, IBIT, ETHE, SMH, XLK, XBI, GDX, ARKK, EFA, QQQ, IWM, SPY, KRE, XLY

S&P500 AMD, NDAQ, DLTR, HRL, APH, SMCI, INTC, NVDA, DG, PANW, CRWD, SW, MU, ON, AVGO, RMD, VST

NASI AMD, ZS, DLTR, ASML, SMCI, INTC, PANW, CRWD, ON, AVGO, MU, TSLA, AMAT
IWM SG, ASAN, PD, IRT, SMCI, FRQ, MARA, TGTX, IOVA, MSTR

Trade Idea: NVDA

NVDA is down on the anti-trust news. There are large put positions this week at 105, 100 and call positions at 105 and 110. Expected move is +/-6. Bull bear level is 105 with a break below leading to further selling. Premarket high is 108 which is first level of resistance on a bounce. Look for bounces to be likely sold.