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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 – Negative  global set-up

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

·       Yields: 30Y Bond +.9% Currencies: USA$ -.13%, CAD -.24%, YEN+.68%, BTC/USD-4.1% Vix: 23

·       News: USA: No major news Germany: Change to allow an increase in govt spending lacking a majority

·       Stocks: RKT-13% buying RDFN
Overview: SPY 568 Expected move 7.1 Resistance 570 575 580 583   Support 568.8 565; QQQ 484 Expected move 7.6 Resistance 488.5 490 495 500 Support 484 480. Global indices lower with Asian and European indices lower overnight. European stocks lower as Germany having difficulty attracting enough votes to increase govt spending, which has been a catalyst for the surge in the Euro and European stocks. USA indices are lower with SPY and QQQ at the bottom of the daily expected move which is a level to bounce or breakdown from. Key put wall support/breakdown levels are SPY565 QQQ 480. Bitcoin -4.5% is a sign of risk-off and potential liquidity constraint and impacting the usual cohort of MSTR MARA etc. I have some concern that bitcoin weakness is spilling over into the equity market. Bonds are bid with TLT +1% which is a risk-off indicator as is Yen+.68%. MAG7 are all negative with TSLA, NVDA and META leading to the downside. China stocks like BABA are down as they pullback from technically extended levels. Vix futures are inverted which indicates short term institutional hedging and is a major red flag. Dealers in negative gamma means that moves in either direction will be exaggerated. SPY and QQQ are at the bottom of daily expected moves and can use as a pivot i.e. long above, short below and use Put wall as a potential reversal level should market move lower.

Expected Move SPX (5841-5699), SPY (583-568.8), QQQ (499.4-484), IWM (209-203)

Stocks to watch TLT, SLV, PLTR, TSLA, AVGO, IBIT Speculative RKT, APP
Pre-800ET
Indices UNG, TLT, USO, IBIT, ARKK, KWEB, SMH, FXI, ETHE, ARKG, XLK, QQQ, XLY, FEZ, EFA, SPY, ARKX, IWM

S&P500 PLTR, TSLA, AVGO, SMCI, MU, META, GOOGL, NVDA, CCL, INTC, AMD, WMT, MSFT, AAPL
Other PTGX, BECN, EQNR, DASH, RKT, APP, VNET, HOOD, NVO, MSTR, SMR, COIN, CRH, RKLB, MARA, BCS, STM, OKLO, TEM, BABA

Trade Idea: TLT

TLT is potentially a safety trade as investors leave equity and concerns for economic slowdown continue. Large premarket move so short-term stretched.  Move above Friday high (91.25) can be used for a long with target 93.