.

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 +0.03% Currencies: USA$+0.5%, CAD -0.19%, YEN-0.61%, BTC/USD+1.3% Vix: 18.15

·       Stocks: MU-1.3%, THO+4.4% EPS LAC+71% USA govt may invest; BABA+8.9% new AI model; SAP+2.7% OpenAI partnership; BE-6.6% downgrade; FCX -5.9% copper and gold
Events: USA: New home sales 10ET; 5y bond auction 13ET Germany: Business climate weakening
Equity: Global indices are indecisive premarket with US$ 0.5% higher which can be a headwind. China is strong premarket with BABA up 8% with a new AI model. OpenAI, ORCL, and Softbank announced 5 AI data centers which keeps the AI euphoria intact. ORCL is lower premarket despite beating and raising guidance, so a sell-the-news so far, but watch how it trades today. MAG7 is led by AMZN, which was upgraded and announced a deal with SAP. Speculative names are bid on bitcoin miners, quantum, drones, nuclear, higher along with bitcoin and etherium. SPX 0DTE has a large positive gamma between 6685-6660, with chop expected within and larger moves possible outside.  Market up, vol up is starting, which is indicative of upside speculation similar to other bubble times and but reversals can be sharp. It’s expected that SPX 6505 will be supported into the month-end due JPM collar position, which will be absent come Oct.

SPY 664.2 Resistance 665 666 Support 662 660, QQQ 599.5 Resistance 600 604 Support 598 595

·       Daily Expected Move. SPX(6692-6636), SPY(666-661), QQQ(604-595),  IWM(245-241)

Stocks to watch BABA, AMZN, ALB, BIDU, FCX, MU Speculative CIFR, UUUU, RCAT, RKLB
Pre-800ET
Indices KWEB, IBIT, MSOS, ARKK, NUKZ, ETHE, QTUM, ARKQ, UUP,  UNG, EFA, TLT, GDX

S&P500 ALB, GM, KVUE, AMZN, PYPL, INTC, COIN, SNPS, FCX, MU, ADBE

Other SLNO, BABA, GDS, ACHC, THO, SFTBY, CIFR, BIDU, JD, IREN, QBTS, RIOT, UUUU, KC, PONY, SAP, RCAT, ACAD, HRMY, BE, SNDK, JHX, RKLB, SBET, SONY, TSM

BABA

BABA 8.5% higher on a new AI model is likely overdone; however appears to be in a squeeze. 174.5 is a potential pivot level with longs on pullbacks > 174.5 with 180 the upside target and < 174, potential for a fade towards 170.