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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 -.36%  Currencies:  USA$ +.03% CAD +0.02% YEN -.12%  BTC/USD +2%  Vix: 19.05

·         Stocks: IGV+8.2%, DHI+7.2%, NOC+2%, PHM+1.7%, LMT-7.9%, PM-3.8%, RTX-3.7%, GM-3%, SYF-1.4%    EPS  

·         Events: USA: Powell speaking 830ET
Equity:  USA indices are flat, Europe and Japan lower and China higher premarket. MAG7 led by GOOGL and AMZN which were strong Monday with NVDA  the laggard and semis pulling back in sync. Bitcoin is higher and hot names like IREN, GLXY, RIOT are higher in sync. ETHE which has been outperforming bitcoin is lower but SBET continues to be squeezed higher.  Homebuilders are higher with DHI and PHM reporting better than expected earnings which are significantly lower y-y, seems like a short squeeze. Defense stocks earnings mixed with LMT and RTX lower and NOC higher. LMT has moved lower twice the expected move to 2 year lows. Speculative:  Space, drone, battery  sectors are lower premarket with a bid to the crypto and some nuclear, quantum names. OPEN is the meme name of the week with options volume Monday setting a 2025 single stock record and in play today but not for the feint of heart.  SPX options are pricing in a small move today with 6300 the key pivot level to watch.
   

·         Simple bull bear levels: SPY 627, QQQ 563, IWM 220,

·         SPY 628.9  Resistance 630 633  Support 628 626 625;  QQQ 564  Resistance 565 566 567    Support 563 561 560;
Daily Expected Move. SPX(6332-6279),  SPY(631-626), QQQ(567-561),  IWM(223-219)

Stocks to watch  GOOGL, AMZN, DHI, PHM   Speculative GLXY, SBET, OPEN, QS, JOBY
Pre-800ET
Indices IBIT, ARKG, XLF, XME, GDX, SLV, XLC, XLV, IWM, RSP, UNG, ARKX, ETHE, ARKQ, USO, XBI, XLP, XLK

S&P500  DHI, COIN, NCLH, LMT, NXPI, PM, DHR, TXN, LULU, RTX, 

Other DQ, SBET, THC, IREN, KSS, TIGR, STNE, DJT, GLXY, RIOT, IBIT, HUT, QUBT, CLSK, NNE, CLF, QS, JOBY, PGY, SRPT, ACHR, ENVX, RKLB, USAR, ASTS, SHOP

AMZN

AMZN was a strong mover Monday ahead of earnings Jul 31.  Short term extended but > 130 upside targets are 133 (weekly expected move) and 245/250 based on call positioning.  Pullbacks > 225 are potential bounce trades. AMZN historically rises into the earnings print with caveat that price move  is currently above the typical rise.