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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 -0.19% Currencies: USA$ +.02%, CAD +.02%, YEN +0%, BTC/USD +2.9%, Vix: 17.45

·       Stocks: FAST+2.8 EPS SNPS buying ANSS  MSFT cutting 10% of staff: gaming division Downgrades: SOUN CRWD BBY SOFI
Events: USA: Trump tariffing Mexico and Europe 30% in latest chapter of the tariff soap opera. Trump meeting with NATO 10ET and potentially waving saber at Russia and providing more weapons to Ukraine which can be positive for LMT, oil and gold.  China: Key data will be released tonight. Export data strong to SE Asia as USA direct exports reduce
Equity: G7 equities lower overnight with China higher on export data. USA indices pulled back overnight as Trump upped tariffs on Mexico and Europe, but are bouncing since the Europe open. SPX 0DTE positioning indicates chop in the range 6220-6250. Positive gamma suggests selling rips and buying dips. Bitcoin continues to move higher ahead of the vote on the Genius stablecoin legislation. Bitcoin and ETHE names strong with miners e.g. BTDR MARA and companies that buy bitcoin or ETHE e.g. MSTR SBET SQNS all higher. MAG7 led by TSLA and NVDA with AAPL lagging. AMZN one to watch with Prime day results good and AI agent event with Anthropic this week. Cloud software names pulled back Fri and are on watch for further weakness. CRWD downgraded after 2 down days and security stocks are on watch for continued weakness if rotation out of software continues. MU lower on rumor of an oversupply of HBM memory, watch price for a move in either direction.

·       Simple bull bear levels: SPY 622, QQQ 553, IWM 221

·       SPY 622 Resistance 624 625 627 Support 620, QQQ 552.8 Resistance 552 554 555 558 Support 550
Daily Expected Move. SPX(6290-6229), SPY(627-620), QQQ(558-550), IWM(224-219)

Stocks to watch TSLA, IBIT, SLV, NVDA, AMZN, FAST, MU, CRWD  Speculative SBET, MARA, UPST, SOUN
Pre-800ET
Indices IBIT, UNG, ETHE, USO, SLV, KWEB, FXI, GDX, GLD, TLT, XLK, SMH, QQQ, IWM, SPY, XLF

S&P500 ADSK, KVUE, FAST, COIN, TSLA, MU

Other SBET, KC, NBIS, BTDR, HUT, IREN, MARA, RIOT, QBTS, MSTR, TIGR, MP, BABA, UPST, SOUN, RIVN

MU

MU is pulling back on a report that there is an oversupply of HBM memory that NVDA and custom AI chips require in abundance. MU is moving down to prior support and one can look for either breakdown or bounce. Below 120 look for AVWAP from breakout at 118 or large option position at 115 as targets. Above, 122-126 are targets should the report be refuted.