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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 – Neutral global set-up

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

·         Yields: 30Y Bond +.08%  Currencies:  USA$ +.07% CAD +.03% YEN-.02%  BTC/USD-.21%  Vix: 14.4

·         News:  USA: Non-farm payrolls 227k vs 218k; UE rate 6.8%; UofM COnsumer sentiment 10ET CAD: Jobs 50.5k vs 24.7k; UE rate 6.8% vs 6.6%

·         Stocks:  ASAN+26%, DOCU+14%, GTLB+11%, HPE+2.7%, LULU+9%, RBRK+23%, ULTA+9%, VSCO+2.5%,  IOT-8.2%, PATH-2.7%, EPS
 
Overview: SPY 607.7  support 605 603  and resistance 610,  SPY expected move +/- 3.3; QQQ 522.9 with support 520 517.9   resistance 525  expected move +/- 3.9.; USA indices were down prior to the jobs report which was effectively inline which is what would be expected due to implied volatility elevated into the print. UE rate increased so a mixed message on the jobs market.  US$ and 10y yield dropped as an initial reaction but are recovering which IMO is implying that the result is positive for the economy. Strong reaction to earnings from smaller tech companies and retailers, many with high short interest and potential for day trade opportunities, see the list above. MAG7 continue to be led by TSLA (yesterday’s idea) and AMZN. China is up and threatening a breakout on the hourly chart. Narrative that China stimulates at some point, when is the question. Premarket breadth is broad and tilted to the riskiest assets i.e. small caps, spec tech so after a couple of days of rotation into large cap tech, could see the reverse rotation back. Caveat is the first move is short covering and reaction to IV falling. Take care at 10ET with consumer sentiment being reported

Expected moves SPY(610-603.4), QQQ (525.7-517.9), IWM (241.2-235), SPX (6108.1-6042.1)

Stocks to watch TSLA AMZN ULTA DG PLTR PLTR   IOT USO  Speculative   BTDR SOUN AAOI

Pre-800ET
Indices FXI KWEB ETHE ARKK KRE IWM XLY IGV RSP XBI EFA XLB  UNG USO SLV 

S&P500 ULTA LULU HPE DG TSLA PLTR UBER WY SMCI MO 

ALL ASAN RBRK DOCU GTLB ULTA LULU BTDR SOUN AAOI CELH W APLD JD SHOP  IOT PATH NTDOY EQNR AI

Trade Idea: SHOP

SHOP has moved above the 115 call wall in the premarket which can lead to a squeeze to the next large call level at 120. Can consider long above premarket high or look for a pullback > 115 for a move back to premarket high and then above. Very similar situation as highlighted yesterday with TSLA.