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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 set-up

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

·       Yields: 30Y Bond -0.08% Currencies: USA$-0.31%, CAD +0.19%, YEN+0.23%, BTC/USD-0.03% Vix: 15.7

·       Stocks: ORCL+4.65% May get USA piece of Tiktok; GOOGL+0.6% continuation; RKLB-3.5%, OSCR-5% secondaries
Events: USA: Retail sales 830ET CDN: CPI 830ET; 20Y bond auction13ET German ZEW conditions weakening
Equity: Global indices muted ahead of USA retail sales and Canadian CPI data.  Monday USA breadth was weak with strength concentrated in some MAG9, spec tech, and precious metals. Today US$ is lower premarket and most commodities are strong and spec tech is leading. MAG9  are led by ORCL with rumours can buy USA Tiktok, GOOGL and META and of course TSLA since it’s the king of squeezes. RKLB and OSCR which are popular retail/squeeze names are lower on secondaries. Secondaries are common with the popular squeeze names which tend to be profitless and parabolic bounces are opportunities to raise capital. Retail tends to view all dips due to dilution as reasons to buy, watch. Monday vix and vix volatility rose with SPX which is a caution signal into vix expiration Wed premarket and FOMC Wed afternoon.  *** Retail sales+0.6% m/m vs +0.2% expected Reaction: TLT lower, US$ higher, SPY lower In theory good news is bad news for a market & president focused on rate cuts USA import prices +0.3% vs -0.2% expected CDN CPI: +1.9% Y/Y vs 2% expected. IMO the USA data does not indicate need for rate cuts and potentially indicates rising inflation. We will find out tomorrow whether the FOMC agrees or will chase the market expectations for rate cuts.
 
SPY 659 Resistance 661.8 Support 660 658 655, QQQ 592.8 Resistance 595 Support 590 588 586

·       Daily Expected Move. SPX(6641-6590), SPY(663-658), QQQ(595-588),  IWM(240.6-236.7)

Stocks to watch TSLA, GOOGL, ORCL, KWEB Speculative ORBS, CIFR, JOBY, RCAT, RKLB, OKLO
Pre-800ET
Indices UNG, MSOS, QTUM, SMH, IGV, ARKK, MAGS, ARKF, GLD, GDX,  $dxy, IWM, KWEB

S&P500 ORCL, CMG, TSLA, WBD, TTD

Other WBTM, BE, DLO, ORBS, NVO, MPNGY, HMY, TCOM, ZIM, TSM, CDE, IREN, CIFR, JOBY, OSCR, RCAT, RKLB, OKLO

AMZN

AMZN has been lagging MAG9 and pulled back on the ORCL/OpenAI news. If think that maybe OpenAI won’t raise $800B to build all the datacenters and crush AMZN potential bounce idea while above Mon high. Strong retail sales number may be positive for AMZN which at least does good business with my house. 235 is first target to upside and 240 is a large option open interest level above. FOMC Wed is a risk if thinking of longer term and can wait for the reaction to the dot plots.