.

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 set-up

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

·       Yields: 30Y Bond +0.16% Currencies: USA$ -0.17%, CAD +0.01% YEN+0.07%, BTC/USD -0.56%, Vix: 15.15

·       Stocks: FN-8.3%, VIK-3.5%, MDT-3%, HD+0.08%, XPEV+1.9%, PANW+6.2%, BHP+2.3% EPS
Events: USA: Housing starts 830ET Canada: CPI 830ET
Equity: USA indices slightly lower premarket along with Japan and China but Europe higher. Bitcoin lower which is a risk-off caution signal; however trend is still intact and still above Aug lows. MAG7 led by NVDA which announced a new China chip with remainder slightly negative. INTC +5% on Softbank announcing $2B investment (do they have the money?) following USA govt taking a 10% position. PANW higher post earnings can lift other security names (HACK) which have been weakening along with software (IGV). MDT lower post-earnings may spill over to other medical equipment names. FN in the electronics contract mfg space beat but stock lower, potentially a sell the news in a name benefiting from AI data center euphoria. SPX 0DTE has a large position at 6450, which sets a bull bear level, and an iron condor with short strikes 6460 and 6440 sets a level for support/resistance or acceleration. Volatility is suppressed, and Vix expiration Wed with upcoming FOMC meeting, USA PMI, and Jackson Hole are potentials for an increase of vol and a reason to consider hedging.

SPY 643.2 Resistance 645 646   Support 642 640  QQQ 576.7 Resistance 577 580 Support 575 574
Daily Expected Move. SPX(6475-6423), SPY(646-640.7), QQQ(580-574),  IWM(230-226)

Stocks to watch NVDA, PANW, INTC, MDT, FN, AMD Speculative XPENG, VKTX
Pre-800ET
Indices MSOS, TLT, EFA, GLD, GDX, UNG, USO, ETHE, IBIT, ARKK, XBI

S&P500 PANW, INTC, MDT, AMD

Other XPENG, TGNA, IREN, RKLB, NU, VKTX, AS, SOUN

HACK

Security stocks and software in general has been lagging. PANW is lifting premarket with an earnings beat and guidance above consensus. Security stocks like CRWD, ZS are higher in sympathy with PANW, which is lifting the HACK etf. This is a counter-trend idea, but a potential short-term long trade idea with upside target 50sma 84.45. PANW has a large call position at 190, which can act as resistance or acceleration above. Software in general has been lagging behind hardware, but potential for rotation back if semis cool down.