.

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 – Neural – Negative

Global Markets:  USA, Europe, Japan, China, Hong Kong Asia – neutral global set-up

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

·       Yields: 30Y Bond -.1% Currencies: USA$ +.0% YEN -.2% BTC/USD +.9% Vix: 21.4

·       News: USA: PPI 8:30ET; Consumer sentiment 10ET; FED speakers CDN: employment, building permits 830ET UK: GDP +.2% vs 0%
Stocks: JPM+1.3%, WFC+3%, BLK+1.8%, FAST+4.4% EPS TSLA-6% Robo event not well received UBER LYFT bouncing
Overview: Pre PPI SPY 575.9 support 575 572.5 570 and resistance 577 580 SPY expected move +/- 3.6 QQQ 491.5 with support 490 488.7 487 resistance 495 496.4 expected move +/- 3.9. Ahead of USA PPI USA indices are slightly lower with DIA leading and QQQ lagging. QQQ has been through the European session and have not yet had the usual NY bounce. Macro is slightly bearish with long yields higher. Aggs and metals are bouncing but oil lower ahead of potential China further stimulus weekend news. Major earnings have resulted in positive stock reaction with JPM providing a lift to DIA. TSLA robo taxi event has had a poor reaction, likely since the roll out is later. UBER and LYFT are bouncing in reaction. Options market is pricing a narrow trading range today with PPI and consumer sentiment due. AMD AI event was not applauded by the market with stock moving lower. Bitcoin bouncing back above 60k is lifting the MSTR HOOD MARA after dropping 4% in the Asian session, very volatile. PPI and consumer sentiment may be market moving. *** PPI m/m 0% vs 0.1% Core PPI 0.2% vs 0.2% Reaction small bounce in 10y, small equity bounce that was sold.

Expected moves SPY(579.7-572.5) QQQ(496.4-488.7) IWM(219.3-214.3) SPX(5816-5744)


Stocks to watch JPM, WFC, FAST, UBER, AFRM, TSLA, CEG,   Speculative DJT, CELH, MSTR 

Pre-800ET
Indices IBIT, ETHE, KRE, XLF, GLD, IYT, GDX, UNG, UUP, KWEB, FXI, ARKK, XLY, USO, TLT, XLU, QQQ, IWM

S&P500 UBER, WFC, JPM, KMI, BAC, TSLA, VST, HUM, CEG

NASI CEG, PDD, TSLA
Other DJT, UBER, CELH, WFC, AFRM, LYFT, AA, MSTR, HOOD, ZIM, AU, KMI, TSM, BAC, MARA, COIN, TSLA, VST, FUTU, HUM, BEKE, TAL, PDD, BABA, BIDU




 

Trade Idea: TSLA

TSLA has dropped premarket with a low of 222. There are large put positions at 220 which makes it a likely support level with potential for bounce as puts monetize before the close. There are also large put positions at 230 which is a potential target on a bounce. Alternate notion is a break of 220 which brings 215 into play. Weekly expected move lower bound was 234 and 215 would be a 2 standard deviation move.