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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 -.22% Currencies: USA$ +.12% CAD -.04% YEN-0.39% BTC/USD -2.35% Vix: 19.65

·       News: USA: Building permits, housing starts 830ET; Ind Production 915ET Canada: CPI 830ET 

·       Stocks:  
Overview: SPY 565.5 Expected move 4.6 Resistance 568.8 570 Support 565 563.9 562.6; QQQ 480.8 Expected move 5.4 Resistance 485 488 Support 480 477 475. USA indices are lower premarket with IWM and QQQ leading to downside. MAG7 are weak ahead of NVDA CEO Jensen’s keynote address with TSLA leading to the downside and AMZN continuing to slide. AI and quantum names continue to slide as does Bitcoin which is indicative of distribution of growth/meme names. Strength in precious metals, miners, energy and weakness in bonds which smells like inflation.  Some China names are continuing to run, including BIDU which had a big AI day Monday. China EV names strong and continue to have positive news for fast charging and self driving. Today’s econ data is housing related and look for reactions by builders like LEN and retailers like HD. Industrial production premarket will provide more data on the state of the USA economy. Trump is speaking to Putin today and is also signing executive orders at 330ET so may create tape bombs. NVDA conference is the big tech moving event with Jenson speaking in the afternoon. SPY and QQQ are at key pivot levels with SPY 565 and QQQ 580 levels to use as short term bull/bear levels. SPX support 5652, 5600, 5565 and resistance 5700.

Expected Move SPX (5721-5629) SPY (571.8-562.6) QQQ (488-477) IWM (207-203)

Stocks to watch NEM, BIDU, BTU, TSLA, NVDA  Speculative KC, AU, LI, QBTS, RGTI, IONQ
Pre-800ET
Indices GDX, USO, GLD, SLV, XLE, XLB, ETHE, IBIT, IWM, XLY, ARKK, TLT, QQQ, XBI, XLK, QTUM, SPY

S&P500 NEM, BWA, ETR, AMZN, AVGO, TSLA, PLTR
Other KC, AU, LI, NVO, EDU, BTU, DB, GFI, HMY, STM, BIDU, KGC, GOLD,  SRPT, QBTS, RGTI, IONQ, MSTR, TSLA, ETR, SOUN, TEM, MARA, SMR, ASTS

Trade Idea: HWM

Aerospace had a bid day Monday as did HWM. This could be just part of a short term rotation and could be impacted by a Ukraine peace deal. HWM is one of the better names in the space. Large call positions at 135 and 140 indicate some are betting on higher prices. Fundamentally HWM looks ok so not a meme name. Another name that caught my eye is ERJ, which has higher strike call leaps bid. Defined risk option trades are a way to trade the pump or alternative.