.

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 -.3%  Currencies:  USA$ -.05%, CAD -+.03%, YEN-.1%,  BTC/USD -1.0%,  Vix: 14.8

·         News:  USA: JOLTS 10ET EUR: French govt struggling to issue a budget 

·         Stocks:   ZS -7%, CRDO+32%, EPS MARA-3.7%, Debt Offering; X-7% Trump tweet opposing Nippon buying; SMCI+7% continuation after statement from company that no fraud; AXON, UPST upgrade; MP China is banning export of some materials to the USA which is providing a boost to MP
Overview: SPY 604  support 601.5 600  and resistance 605 605.7,  SPY expected move +/- 2.1, QQQ 515.1 with support 515 512.3 510 505   resistance 518.3 520, expected move +/- 3. USA indices are flat premarket but global indices are higher. Macro setup is mixed with long yields up and US$ lower. Commodities are broadly higher, potentially just futures traders pushing the buy button or reaction to China eventually doing some stimulus. Monday the S&P rotated into MAG7 at the expense of the other names. Premarket MAG7 are up slightly with the exception of TSLA which is lower on court ruling on Elon pay package. MSFT is facing a European anti-trust suit and AAPL a European class action suit. Bitcoin is down premarket which is weighing on MSTR. MARA down on a debt offering, following RIOT.  ZS is lower premarket on a weaker forecast but not affecting the other security stocks. SMCI is continuing to move higher following the move Monday on a release that the company had replaced the CFO and done an internal audit that did not indicate fraud. SMCI still needs to have an external audit and file with the SEC but for now, shorts are covering. SPX remains in positive gamma which is supportive for a slow grind higher into year end. Above SPX6050, potential to grind up to 6100. SPX6000 remains the key level for bull/bear.

·         Expected moves SPY(605.7-601.5), QQQ (518.3-512.3), IWM (243.7-239.9), SPX (6068.2-6026.2)

Stocks to watch AAPL T MRVL MP  ZS X TSLA  Speculative SMCI MP  MARA

Pre-800ET
Indices USO SLV FXI EFA XLE US$ FEZ UNG IBIT TLT ETHE MSOS ARKK 

S&P500 SMCI T PCG AMD MU TSLA

ALL JANX CRDO MP SMCI RKLB T MRVL IONQ STLA UPST BP SMR NVO PCG ZIM CVS X ZS CLSK MARA ROIV RIOT MSTR WOLF LI TSLA

Trade Idea: AAPL

AAPL has broken out above recent highs despite a dearth of positive news and sluggish growth over several years. However AAPL does share buybacks and like it’s brethren, there is buying to be completed before year-end that is not related to fundamentals. 240 is a key level for AAPL and above there is a large call position at 250 which can act as a magnet. Dips are likely buyable down to 235 to play the buybacks. This applies to other MAG7 stocks. QQQ has lagged the value stocks and may play catchup.