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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 – Neural – 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 +0.03%  Currencies:  USA$  -.01% YEN +.46% BTC/USD +.29%  Vix: 19.7

·       News:  USA: PCE, UE claims 830ET;  EUR: Core CPI 2.7% y/y vs 2.6% JP: BOJ maintains 0.25% rate CAD: GDP 0% m/m

·       Stocks:   MSFT-3.8%, META-2.8%, MRK-1%, LIN-5%, UBER-6.5%, EBAY-7.8%, ROBU-13%, CMCSA+4.9%, BKNG+5.3%, MO+.8%, DASH+3%, ALL+2.2%, CVNA+20%, CFLT+14%, TWLO+12.8%, PTON+8%  EPS 

·       Overview: SPY 576.6 support 575 and resistance 580 582 SPY expected move +/- 3.9 QQQ 493.5 with support 490 485 resistance 495 500 expected move +/- 7.3. Global indices sold down overnight with USA indices having the usual bounce in NY premarket trading as shorts cover. USA PCE 0.3%m/m inline but higher than previous. MAG7 are weaker with MSFT and META lower post EPS. NVDA is trading lower which is weighing on semis. SPX is below key 5800 level which increases probability of a larger downtrend if 0DTE puts are bought. Premarket low 5770 (SPY 575) is a good level to use as a bull bear level. Stability is lower today than the previous weeks so can see larger moves in either direction. Should put buyers enter the market then SPX 5700 is the next major support level. It is the last day of the month, which is usually bullish however there is election uncertainty and AAPL, AMZN still on tap to report. META MSFT earnings were not terrible; however the stocks were extended and growth is not in keeping with valuation hence some give back. Will find out today whether the buy the dippers are still around. Vol control funds will be buyers today, which is an automatic buying entity.

Expected moves SPY(583.9-576.1) QQQ(503.7-489) IWM(223-219.7) SPX(5852.7-5774.7)

Stocks to watch IP, BKNG, IBIT, MSFT, META, NVDA, ROKU   Speculative RBLX, CVNA, AVDL, UBER

Pre-800ET
Indices USO, IBIT, XLE, XLU, TLT, ARKK, UNG, XLK, SLV, QQQ, SPY, KWEB, SMH

S&P500 IP, PAYC, BKNG, NCLH, CMCSA, BWA, CHTR, CCL, COP, MRO, ALL, BMY, MA, CLX, EL, MPWR, UBER, IQV, HII, APTV, TFX, EBAY, XYL, MGM, LIN, SMCI, ETN, MSFT

NASI BKNG, CMCSA, DASH, CHTR, CTSH, XEL, PANW, ABNB, SIRI, MSFT, META, DDOG, REGN, MU, AZN, AVGO, MDB, AMZN, PDD, NVDA,
Other AVDL, RBLX, CVNA, TWLO, IP, MBLY, EL, ROKU, SNN, SN, UBER, ENVX, HOOD, HRMY, LI, EBAY

Trade Idea: MSFT

MSFT has pulled back to the approximate expected move and is below the key 420 level which can lead to larger moves to the downside. Trading 416 with premarket low 410. Straddle approach: potential fade < 415 or long > 420. Put wall 400 should be strong support.