.

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

Market Setup- Pre-730ET

Global Markets:  USA, Europe, Japan, China, Hong Kong – slight negative set-up

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

·         Yields: 30Y Bond -0.44%  Currencies:  USA$ -.19% CAD +0.05% YEN+0.16%  BTC/USD-0.9%  Vix: 17.2

·         Stocks:  EH-13%   BNS+1.2% BMO+.2% SMTC+2.65% EPS  
Events: USA: Durable goods 830ET; Consumer confidence 10ET; 2Y auction 13ET; Trump posts firing of Fed governor Cook
Equity: USA and global indices lower premarket. US long yields and gold higher and US$ lower post Trump posting that he would fire Fed governor Lisa Cook. USA indices are slightly lower with small caps outperforming. MAG7 slightly lower ex-NVDA which is higher ahead of Wed EPS. BNS and BMO higher post earnings could be positive for TSX. IBKR higher on being added to S&P500; AMD higher on a partnership with IBM including quantum computing; and SATS big jump on sale of  wireless spectrum to T. Digital assets bitcoin and Ethereum are continuing to trade lower and negatively impacting related names like MSTR, RIOT and lower prices are a risk to the digital asset treasury companies like MSTR and BMNR. Quantum stocks are lower on the AMD/IBM news. Rare earth related names were strong Monday (MP, USAR) and today UUUU is strong on a news item. SPX is in positive gamma hence supported by Wed NVDA earnings though hedging is increasing. Resistance 6450-6500 and support 6400 with a break of 6400 potential for a swift drop.

SPY 642 with Resistance at 644 and 645 and Support at 641 and 640  QQQ 569.8 with Resistance at 571, 573, and 575 with Support at 569, 567, and 563.4
Daily Expected Move. SPX(6466-6412)  SPY(645-640) QQQ(574-567)  IWM(234-230)

Stocks to watch AMD, NVDA, IBKR, IBIT, TSLA, PLTR   Speculative PDD, TIGR, RIOT  
Pre-800ET
Indices MSOS, UNG, GDX, UFO, KWEB, GLD, USO, IBIT, XLE, $US, TLT, XLY

S&P500  AMD 

Other SATS, IBKR, XPEV, UUUU, HSAI, AMD, LLY, OKLO, NTES, CMCSA,  EH, HMY, RGTI, NVO, RIOT, QBTS 

AMD

AMD, is higher on an upgrade and a partnership with IBM that includes the magical words quantum computing. Expected move for the week is +/-7 and OTM calls can provide fuel for upside. Potential long breakout > 168.5/169. Or pullback > 167.5.