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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 – neutral global set-up

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

·       Yields: 30Y Bond +.64% Currencies: USA$+.27%, CAD -0.32%, YEN-1.1%, BTC/USD-0.4% Vix:2 0.65

·       Stocks: PDD-19%, AZO-0.7% EPS
News: USA: No economic data but indices have jumped after Trump extended deadline for Europe from June 1 to July 8 to provide a tariff proposal to his liking.
Overview: G7 equities bounced Mon after Trump 50% European tariff threat unless Europe satisfied the USA by Jun1 was extended until Jul8. Predictable short squeeze and pop in popular retail names, which are unaffected by European tariffs with AI, semis, Space, and Quantum names bouncing, ergo the Casino is open for speculation. Names with leveraged single stock ETFs in particular have the most juice e.g. NVDA, PLTR, TSLA. MAG7 are all positive led by NVDA which announced a new China chip and will report earnings this week. TSLA also strong despite European sales data which is weak and reports that BYD is now leading EV sales in Europe. TSLA is possibly trialing robo taxi in Austin in June but otherwise TSLA may be purely flow related. Trump Media (DJT) is bouncing on report that plan to raise $3B to buy bitcoin which of course is a catalyst to pump bitcoin and the usual suspects like MSTR COIN HOOD with MSTR and COIN having single stock leveraged ETFs to aid in the pumping. SPX, NDX are above the daily expected moves, hence extended and hence potential for further squeezing, but given the bounce appears to be flow related and not due to tangible changes in policy, the odds favor pullback/stalling. SPX has large gamma positions at 5900, 5905 and 5925 which may act as resistance, reducing upside potential, but little resistance above 5925, which can lead to 6000 should a breach occur. There is very little support from the option market until 5725, which means that the market is susceptible to negative catalysts. NVDA earnings this week, Trump tweets, and the bond market are the potential catalysts, both positive and negative.

Simple bull bear levels: SPY 585, QQQ 515, IWM 205

·       SPY 587 Resistance 590 595 Support 586.8 585 584 582, QQQ 516.6  Resistance 519.1 520 523 Support 512 511 510
Daily Expected Move. SPX(5848-5757) SPY(584-574) QQQ(515-503) IWM(205-200)

Stocks to watch AMD, NVDA, TSLA, PLTR, PDD Speculative DJT, RGTI, QUBT
Pre-800ET
Indices SMCI, AMD, PLTR, NVDA, TSLA, MU, META, MRNA, AVGO, COF, INTC, COIN 

S&P500 SMCI, AMD, PLTR, NVDA, TSLA, MU, META, MRNA, AVGO, COF, INTC, COIN 

Other DJT, RGTI, QUBT, NVO, INFA, OSCR, PONY, RKLB, QBTS, VFC,   PDD, HMY, EH, NNE, XPEV, MNSO, B, LI, FUTU 

Trade Idea: NVDA

NVDA is bouncing premarket as USA equities squeeze on Trump giving the Europeans and extra month to satisfy the USA or suffer a 50% tariff. NVDA is leading large-cap stock bouncing with catalysts of earnings this week and an announcement of a new China chip to replace the other China chip that was ruled not suitable for export and leading to a $5B loss provision. Since the market is in casino mode, NVDA > 135 can lead to 140. There is a large call position at 135 which is acting as resistance premarket but can act as fuel for a squeeze should they want to push it higher. Note indices are above the daily expected moves, so upside may be limited. TSLA, PLTR, MSTR are alternate candidates for squeezing today aided and abetted by retail and hedge funds. Caveat that chasing is dangerous vs looking for pullbacks and resumption.