.

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

Market Setup- Pre-730ET 

Global Markets: USA, Europe, Japan, China, Hong Kong Asia – Slight negative global set-up

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

·         Yields: 30Y Bond -.32% Currencies: USA$ +.12% Vix: +0.2%

·         News: USA: Non-farm payrolls 8:30 ET EUR: Industrial production weaker than expected but improving
Stocks:

·         Overview: USA SPY 514.8 with support at 512 and 510, and resistance at 515, 517, and 520; SPY expected move +/- 4.2.  QQQ 437 with resistance at 440 and 442, and support at 435 and 430; QQQ expected move +/-5.  USA indices are bouncing after Thursday afternoon  sell-off from the top of the daily expected move closing with price below the weekly expected move. Combination of comments by Goolsbee, Khaskari on caution on rate cuts occurred with the warning of Iran retaliation. Volatility is very elevated into the non-farm payroll print and indices are negative gamma hence larger moves are to be expected. While indices are below the weekly expected move potential for larger moves lower but since 0DTE options are driving moves large moves late in the day are to be expected. Geopolitical risk may keep vol elevated over the weekend rather than the usual crush post the payroll report.  MAG7 are bouncing premarket, monitoring whether there is continuation or just dead cat. Moves outside daily expected moves can lead to much larger moves. Today’s daily expected move levels: SPY (517.3-508.9), QQQ (440.3-430.3), IWM (206.8-200.8), and SPX(5189.2-5105.1). 

Stocks to watch NVDA, AMD, WDC, SLV, ENP, COIN

Spec Names GFI

Pre-800ET
Earnings  
Indices VIX, GDX, ARKK, SMH, QQQ, XLY, SPY, XLF, XBI, BITO, TLT, SLV, FXI, FXY
S&P500 WDC, AMD, SMCI, ENPH
Movers CNK, DNUT, WDC, GCT, SWAV, GFI, AU, ASML, SMCI, AMD, SNOW, NVO, ENPH, MARA, SNY, NVS, COIN, RIOT

Trade Idea: SPY

SPY is bouncing premarket and currently above 515 which is a key gamma level. One can think bullish > 515 with targets 517 and 520 and bearish below with targets 510 and 508.9. Indices are negative gamma hence look for large moves especially into the end of day. SPX 5200 is the key level to move above for calmer markets.