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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 Positive global set-up

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

·       Yields: 30Y Bond -.13%  Currencies:  USA$  +.03% YEN +.5% BTC/USD +3%  Vix: 16.7

·       News:  USA: UE claims 213k vs 220k; Philly Fed -5.5 vs 7.4  CDN: IPPI 1.2% m/m vs 0.8%

·       Stocks:   SNOW+24%, BJ+5%, DE+1.5%, NVDA+1.2%,  PDD-10.7%, BEKE-6.4%, BIDU-2.9%, PANW-2.7%  Earnings secondary
Overview: SPY 593  support  592 590 585  and resistance 595 596  SPY expected move +/- 5.5 QQQ 505.5 with support 500 495  resistance 510 513 expected move +/- 7.7. USA indices are strongly higher post NVDA earnings but rest of world is flat. IMO the prime driver for the USA move is the elevated implied volatility in advance of NVDA as puts/shorts are closed. IWM is leading premarket which is a risk-off indicator. Macro is neutral with long yields and US$ flattish. SNOW has moved twice the expected move on an earnings beat and is providing fuel to database and cloud companies (MDB CRM DDOG). NVDA forecast was essentially inline, sold down initially but dip was bought. Further moves are TBD as there are alot of out of the money calls which may weigh on the stock, ergo watch the 150 level as a key level it must take out. Bitcoin continues to rage higher and MSTR, MARA et al are squeezing to the stratosphere.  MAG7 are all positive led by NVDA and AMZN and financials are also bid so there is a set-up for an old fashioned trend day driven by short covering and put closing. Energy stocks, especially nat gas are cooking if one likes highly volatile name (AR EQT RRC LNG). NVDA earnings inline is also revamping the algo buying of the AI basket (MU AVGO ANET APH SMCI GEV). Remains to be seen whether the USA surge on the NVDA report continues or whether USA tracks the rest of the globe. The initial surge is mechanical but will need fresh call buying to continue with ultimate SPX goal of 6000. SPX < 5900 remains the caution line. Premarket there is a large short 5950 level which is a pivot level.

·       Expected moves SPY (596-585) QQQ (510.9-495.5) IWM (233.4-228.4) SPX (5972.1-5862.1)

Stocks to watch NVDA, NFLX, FTNT, KEYS, WIX, TGT  Speculative MSTR, MARA, LMND

Pre-800ET
Indices ETHE, IBIT, UNG, USO, ARKK, GDX, SMH, XLE, XBI, XLK, GLD, SLV, QQQ, XLF, XLRE,  KWEB, MSOS, FXI, UUP

S&P500 SMCI, AMTM, NVDA, MU, AVGO, GEV, CRM, ANET, APH, DE, EQT, APA, PANW, HCA, MRNA, MCD, SW, EVRG, ADM, GOOGL

NASI MDB, SMCI, DDOG, MRVL, NVDA, MU, AVGO, ARM, AMD, TTD, BKR, ADI, AMZN, CRWD, AZN, SBUX, PDD, PANW

Trade Idea: NVDA

NVDA earnings were ok but not outstanding and the stock sold down to 138 for a NY minute and bouncing premarket to 149.44. The 150 level is a huge call level which can act as resistance or an acceleration level with large call positions above with 155 and 160 targets. The out of the money calls can act as accelerant or if price stalls, the drop in IV can lead to price retreating so very much a watch and react to how NVDA behaves at 150.