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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 -.16%  Currencies:  USA$ +.31% CAD -.13% YEN-0.44%  BTC/USD +1.9%  Vix: 20.3

·         News:  USA: FOMC meeting 14ET  Japan: Rates unchanged 

·         Stocks:  KC+4.5%, SIG+15%, TCEHY+1.9%, GIS-3.4%, HQY-14%, TME-1.4%, LX-3.5%,  EPS
Overview: SPY 562.5  Expected move 6.1 Resistance 565 567   Support 560 555;  QQQ 476.5  Expected move 6.8 Resistance 479 480 481 Support 475 470 468.  USA indices are slightly higher premarket led by QQQ. MAG7 are led by TSLA (upgrade) and NVDA which fell post the Jenson presentation but all are higher post selling Tues. Speculative names are bouncing premarket after selling Tues. Quantum names RGTI, QBTS, QUBT, IONQ, ARQQ are on watch ahead of Thurs Quantum day at the NVDA conference, RR is a robotics name which bounced after Jenson comments on robotics. China stocks are higher with positive earnings reactions from TCEHY and KC. GIS, maker of Cheerios is lower post EPS with lower guidance as consumers moving to private label due to price. May weigh on other staples companies. SIG has moved above the expected move post earnings and a potential short squeeze name. US$ is higher post the BOJ meeting which had a cautious slant. It is not affecting gold which continues higher but impacting silver and other precious metals. FOMC meeting at 14ET is the big event. No rate change expected but market will react to commentary. Indices are put heavy into March 21 Opex and IV is elevated. Often there is an IV pullback post the FOMC which potentially can provide a lift on a neutral/dovish Powell commentary with caveat that April 2 tariff concerns is hanging like a sword of Damocles.

SPX support 5565, 5500 and resistance 5700.

Expected Move  SPX (5676-5554), SPY (567-555), QQQ (481-468), IWM (206-200)

Stocks to watch TSLA, NVDA, UNG, KWEB, GIS, INTC,  Speculative KC, AU, RGTI, QBTS, QUBT, IONQ, SIG
Pre-800ET
Indices  ETHE, UNG, IBIT, KWEB, ARKK, FXI, XLK, QQQ, ARKQ, XLP, TLT

S&P500 TSLA, SMCI, GIS, INTC
Other SIG, FRO, KC, SBLK, TSLA, ZTO, RGTI, XPEV, AU, BABA, BYDDY, NBIS, MSTR, APP, MARA, IONQ, TCEHY, HQY, IMVT, GDS, VNET, LX, GIS, BBVA, TME, BEKE, DB

Trade Idea: PDD

PDD reports earnings Mar 20 BMO. Expected move is +/-10.8.  Potential for a run into earnings. Call heavy with 140 the target of call buyers and 130 the key strike above. PDD is sensitive to USA rules on small package shipments which have been on/off since Jan so risky from a geopolitical view. One can look for momentum longs above premarket price towards 130 or pullbacks > 125. China has been the best performing market in 2025 so risk of some reversion however PDD high in 2024 was 165 when China was stimulating and there is a narrative that China is stimulating again.