.

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 – neutral global set-up

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

·       Yields: 30Y Bond +.86% Currencies: USA$-0.12% CAD -0.06% YEN+0.48% BTC/USD-0.4% Vix: 19

·       Stocks: HD+2.3%, AS+10%, PONY+5%, BILI+3.5% EPS QBTS+16.7% Announced new computer
News:  USA: Several FOMC member speaking CDN: CPI 830ET
Overview:  USA indices consolidating premarket with no major economic news to move markets. MAG7 bounced back Mon after post the USA downgrade but are soft premarket with exception of TSLA which is higher on positive MS comments. HD higher post EPS on an earnings miss. Quantum computing stocks (QUBT RGTI IONQ) are higher with D Wave (QBTS) announcing a new computer. UNH continues to bounce after falling on DOJ fraud investigation. Vix options expire at the open Wed and historically markets have made larger moves post expiration. SPX remains in bullish above 5925 with risk < 5900. The JPM collar position at 5905 will provide support into end of June.

Simple bull bear levels: SPY 590, QQQ 515, IWM 208 

·       SPY 593.9 Resistance 595 600 Support 591 590, QQQ 520.3 Resistance 525 527 Support 518.9 517 515
Daily Expected Move. SPX(6001-5925), SPY(599-591), QQQ(527-517), IWM(211-207)

Stocks to watch UNH, HD, COIN, TSLA, AAPL Speculative QBTS, QUBT, RGTI, PONY, ALAB
Pre-800ET
Indices UNG, FXI, SLV, ARKK, QTUM, XLV, ETHE, IBIT, SMH, USO, XLK, QQQ, TLT

S&P500 UNH, HD, COIN, PLTR, TSLA, UBER, PFE 

Other QBTS, AS, QUBT, BULL, GDS, RGTI, CORZ, PONY, BILI, IONQ, NVO, OKLO, VIPS, UBS, NBIS

Trade Idea: ALAB

Astera Labs is a provider of NVLink fusion interconnect technology which is used to interconnect NVDA GPU chips. In the last few weeks there has been a flurry of AI “deals” and Jenson is over in Taiwan pumping NVDA and it’s suppliers. ALAB is a volatile name. Option market is targeting +$100 with $85 key support. Technically stretched in a flag so one could look for a flag breakout for a long. Note ALAB is in the spec tech category and will reverse if the enthusiasm wanes.