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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 – Slight Negative global set-up

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

·       Yields: 30Y Bond +.16% Currencies: USA$ -.06% YEN -.2% BTC/USD +1.3% Vix: 15.5

·       News:  USA:CPI 830ET 4 FOMC speakers EUR: German 10y bond auction 2.38% vs 2.31% prior

·       Stocks: RKLB+25%, CAVA+15%, SPOT+7.8%, FLUT+5.1%, CHGG-15%, PGNY-12.7%, RKT-11.5%, MARA-9%, SWKS-6% EPS SMCI -2,4% still sorting out accounting mess
Overview: SPY 598.2 support 595 593.4 and resistance 600 601 SPY expected move +/- 3.5 QQQ 513.7 with support 513 510 509 resistance 515 517 expected move +/- 4.1. Global indices were lower prior to USA CPI print but USA indices rose with the CPI print which came in as expected. IWM was the weakest USA index prior to the CPI and now the strongest as shorts cover or bulls react to long yields and US$ fall as CPI was not worse than expected. US$ and yields are quite extended and if they reverse, gold and silver will benefit. The Trump basket is bid again post the CPI with TSLA, PLTR, MSTR all bid. MAG7 are led by TSLA NVDA NFLX with MSFT, AAPL lagging. SWKS (wireless semi) missed on revenue and cut forecast may be weighing on semis which are pulling back and potentially AAPL. Tech seems to be rotating from semis to software and premarket security names CRWD PANW are bid. The power generation names associated with nuclear are bid premarket VST GEV CEG. Speculative names are bid premarket as squeeze into high short interest, profitless tech have been part of the Trump trade. ARKK ARKF ARKG are etfs that hold these type of names. Caveat typically indices are well supported into Wed of an Opex week and volatility will then increase into Fri and the following week. With a short term call driven bubble move, Opex is potentially a significant event to pay attention to. SPX6000 remains a major level that can attract price into Friday. 

·       Expected moves SPY (600.4-593.4) QQQ (517-509) IWM (241-234) SPX (6018.6-5949.4)

Stocks to watch SPOT, TSLA, PLTR, KWEB, NVDA, GLD, AAPL, SWKS,  Speculative CAVA, RKLB, FLUT, MARA, SMCI

Pre-800ET
Indices MSOS, KWEB, FXI, GDX, ARKK, TLT, USO, IWM, SLV, KRE, ETHE, UNG, IBIT, SMH, UUP, EFA

S&P500 ALB, GEV, TSLA, VST, AMGN, PLTR, OXY, MMM, CCL, AMZN,  SWKS, SMCI, IP, CAT, ERIE, MCHP, SBUX, ON, TXN, MU, ADI

NASI TSLA, AMGN, CHTR, CRWD, CEG, AMZN, PCAR, PANW, PDD, NVDA, SMCI, SBUX, ASML, TXN, ADI, INTC, MCHP

 

Trade Idea: FLUT

FLUT has moved above the expected move on an earnings beat. 263 pre-market with calls at 250, 260 and 270. Potential momentum long above premarket high to 270 or pull back > 250 for a bounce. FLUT is a major player in the sports betting market. Potential sympathy trade with DKNG.