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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 +0.0% Currencies: USA$+0.03%, CAD +0.07%, YEN-0.25%, BTC/USD-1% Vix: 19.05

·       Stocks: DLTR-1%, HPE+6.8% EPS WFC+2% FED lifted asset limit
 News: USA: ADP 8:15ET ET CDN: BOC rate decision

·       Overview: USA and global indices were higher pre the ADP jobs report but have pulled back to flat after ADP reported 33k vs 111k. MAG7 are mixed with NVDA leading as are AVGO and AMD as market continues to buy semis ahead of AVGO earnings report. AAPL lower after a downgrade, but TSLA higher despite falling China sales demonstrating no correlation between TSLA stock price and auto sales. CRWD lower after a run-up into earnings after giving lower guidance but HPE higher despite lower guidance but giving hope that AI build-up is still strong. CRWV +3% after a 25% move Tues and is the manipulation name of the week with 25% held by a hedgefund with a penchant and 6% by NVDA. Bonds are higher, US$ lower, Oil lower, gold unchanged post the ADP report  but S&P holding after a small dip. While SPY > 595 the grind higher may continue with caveat that it’s extended above the 10d volume profile and ripe for a pullback. As long as the persistent buying of NVDA and AVGO continues it can hold-up. If MAG7 slow down and index holds, they may rotate back into financials and industrials and a lower long bond yield can lead to buying in reits and utes. As always, the big mover is the tariff tweets so need to keep ones head on a swivel.

·       Simple bull bear levels: SPY 595, QQQ 525, IWM 207

·       SPY 597 Resistance 600  Support 595 594 580, QQQ 527 Resistance 530 531 Support 525 524 520
Daily Expected Move. SPX(6006-5934), SPY(600-592), QQQ(531-523), IWM(211-207)

Stocks to watch AVGO, NVDA, AMD, TLT, HPE, AAPL Speculative CRWV, PONY
Pre-800ET
Indices KWEB, FXI, SMH, XME, XLF, FEZ, QQQ, IBIT, UNG, SLV, GLD

S&P500 HPE, WFC, CRWD, DLTR

Other STM, HPW, WFC, PONY, MP, NVO, TSM, SMCI, HIMS, BABA, HOOD, ASAN, CRWD, QBTS, DLTR

Trade Idea: CRWV

CRWV is the ponzi stock of the week. 25% owned by Magnitar with a penchant for manipulation. Hard to borrow stock with OTM calls inviting a squeeze. 204% IV is implies more than 10% move daily. Potential to squeeze above 160 to infinity and beyond and also potential crash like Icarus. This is a stock for traders with strong risk management and a strong stomach.