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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 -.2%  Currencies:  USA$ -.03% CAD +.14% YEN-.1%  BTC/USD -1.4%  Vix: 16.5

·         News:  USA: ISM services PMI, JOLTS 10ET, 10Y auction13ET  CDN: IVY PMI 10ET

·         Stocks:  NVDA+2.2% post Jensen CES presentation. MU+4% benefiting. Highlighted robotics and self driving cars

·         Overview: SPY 596.1  support 595 594 591  and resistance 598 600  SPY expected move +/- 3.55; QQQ 524.3 with support 523 520 518  resistance 527 530 expected move +/- 4.5.;  USA indices are flattish premarket with long yields higher and US$ lower. MAG7 are mixed with TSLA lower on a downgrade (watch 400), AAPL lower (watch 50sma), NFLX lower, META lower after pop Monday but NVDA bounce post CES. NVDA CEO Jensen discussed AI computers, self driving cars and robotics.   
MU is higher after a pop Mon on the idea that MU memory will be shipped with NVDA. What remains to be seen is whether the stocks can continue higher with a gamma squeeze or the large number of out of the money calls leads to a pullback (sell the news). Bitcoin is pulling back from a pop Monday coincident  with the US$ drop. US$ gyrations may be related to stories and tweets regarding tariffs. Must keep the US$ on the screen as higher US$ is generally negative. ISM services PMI and JOLTS will be reported at 10ET and look for yields/US$ to react and therefore equity. There is a 10Y bond auction at 13ET which can move yields and hence equity. Some spec tech names to watch: ENVX (battery) RCAT (drones), SOUN (AI) RKLB (space) and PLTR (Military AI) this was a 2024 leader that is pulling back to the key 75 level.  Banks may get a bid with earnings soon and there is a propensity to bid ahead of earnings. If there is weakness in tech today and the market holds up, financials could be a rotation candidate.

Expected moves SPY(598.9-591.8), QQQ (529-520), IWM (226,4-222.6), SPX (6011-5940)

Stocks to watch NVDA, MU, UBER, SLV, TSLA, AAPL, PLTR, IBIT    Speculative  ENVX, RCAT, RKLB

Pre-800ET
Indices GDX, SLV, USO, SMH, EFA, XLE, MSOS, EWC, XLF, RSP, UNG, IBIT, ETHE, FXI, TLT, KWEB, XLY

S&P500 MU, MRNA, UBER, NVDA, BK, TSLA, PLTR
Other NARI, ENVX, FRO, ZLAB, XPEV, STLA, RCAT, SOUN, UPWK, GOLD, RKLB,  SERV, QUBT, MSTR, RIOT, MARA, CLSK, BABA, IREN, COIN, CHWY

Trade Idea: SLV

SLV is a potential trend change name. It is approaching the downtrend which started in Oct.  > 28 would break the downtrend with a target of 29. SLV would be a benefit from a drop in US$ which can occur if there is a weaker ISM print or weaker JOLTS data or weaker ADP/non-farm payroll data this week.

Converse also true, i.e. strong data = strong US$