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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 – Positive  equity global set-up

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

·         Yields: 30Y Bond +.03% Currencies:  USA  -.03%

·         News: USA:UE claims, Philly Fed 830ET  Eur: Lagarde 11015ET
Stocks:   TSM +7.8%,  DFS -10% EPS; AAPL +2% PINS +2% Upgrade  HUM -15% guidance cut ELV, CNC, CI, hit
Overview: USA SPY 474.6  support  472 470  and resistance 475 480.  SPY expected move +/- 2.6  QQQ 411 with resistance  413.5 415 and support  410 405 ; expected move 3.2. Global indices are risk-on after Wed dip which tested the bottom of the weekly expected moves. AAPL upgrade and TSM forecast (AI baby!) has rocketed the QQQ above the top of the daily expected move and 410 gamma level. Semis  are on fire based on TSM forecast. SPY and QQQ are technically overbought and hence pullback risk however potential for squeeze higher once outside the expected move. DFS earnings indicate all is not well with consumers which may impact other credit companies today.  Breaches of daily expected move can lead to outsized moves. Today’s daily expected move levels: SPY (474.9-469.7),  QQQ (410.4-404), IWM (192.9-186), SPX(4765.6-4712.8). 
Stocks to watch: AMD, TSM, GFS, DKNG, HUT  Spec Names: BTU, IONQ, SMCI

Pre-800ET
Earnings:   TSM, DFS, BIRK,

Indices: SMH, SOXX, ARKK, XLK, LIT, GDX, QQQ, faangmt, KWEB, EEM,  VXX, BTC

S&P500:  AMD, FAST, NVDA, AMAT, ISRG, LRCX, ON, AAPL, QCOM, HUM, DFS, ELV, CVS, CNC, CI

IWM:  BTU, IONQ, SMCI, AI, BBIO, GOGL, BE, MARA
Movers: DKNG, ARM

Trade Idea: QQQ

QQQ is above the daily expected move on a surge on the back of AAPL upgrade and TSM forecast with AI in the future. 410 is the gamma level and while above potential to squeeze higher; however technically stretched so fade risk < 410. Semis and Faangmt are well bid premarket with potential to continue but watch for the fade