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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 +.06%  Currencies:  USA$ +.13% CAD -.13% YEN -.03%  BTC/USD +0.28%  Vix: 17.6

·         Stocks: VRNA Merck acquisition; AES exploring sale; SOUN IREN  squeezing; SBET spiked on large ETHE buy QBTS IONQ quantum stocks bid premarket
News:  USA: Global equities are mixed with Europe strong up, USA slightly higher and China lower. US$ slightly higher and commodities generally lower. Copper -2.6% after spike on Trump statements on 50% tariffs is dislocating markets and creating a large difference between London and NY copper futures. MAG7 are positive led by MSFT AMZN NVDA. AMZN pulled back Tues on sales in the first 4 hrs of prime day being 15% lower than last year but prime day is 4 days this week versus 2 days so likely meaningless. FOMC minutes today at 14ET may be market moving as can the 10y bond auction at 13ET.  Tariff tweets from Trump may be the largest market mover and 7 more tariff letters are expected today. The USA may impose fresh sanctions for the nth time on Russia which may be supportive to oil prices. MSOS higher premarket as rumours of rescheduling Cannabis are percolating.  Crypto, stable coins and next gen finance remain hot with SOFI SBET IREN HOOD all high volume momentum names. Filling out the speculative names are SOUN (AI) QBTS, IONQ (Quantum). It seems like the memes have more gas in the tank. SPX6200, SPY 620 are the level to maintain for the casino to remain open.

·         Simple bull bear levels: SPY 620, QQQ 552, IWM 221

·         SPY 621.9 with Resistance at 625 and Support at 620, 619, and 617, QQQ 553.5 with Resistance at 555 and 556 and Support at 551, 550, and 548
Daily Expected Move. SPX(6255-6196)  SPY(623-617) QQQ(555.8-549)  IWM(223-219)

Stocks to watch MSFT, AMZN, FCX, NVDA, GLD Speculative SOUN SBET  ENPH
Pre-800ET
Indices MSOS, QTUM, ARKG, ETHE, ARKF, SMH, XBI, IBIT,  UNG, FXI, KWEB, GLD

S&P500  AES, FCX, JPM,  ENPH, UNH

Other VRNA, AES, SBET, SOUN, QBTS, IREN, FCX, IONQ, MARA, HOOD,  ENPH, BABA, UNH

AMZN

AMZN pulled back on early Prime day sales. Prime day is 4 days versus 2 days so pullback potentially overdone. 220 is a level to lean against for a long with target 225 and 230 to upside.  Below 220,  217 and 215 are targets.