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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 -0.2%  Currencies:  USA$ +0.15% CAD +0.08% YEN+0.06%  BTC/USD +1%  Vix:18.8

·       Events: USA: 

·        Earnings Stocks: none
Equity: USA indices are higher with technology, spec tech and bit coin strength. Volatility has fallen sharply which this week as short term puts have been closed. SPX 0DTE indicates a range of 6840-6780 with 6800 an important pivot level. CME futures were halted due to data center heating issues which has halted trading in index futures and commodities.. MAGS are led by GOOGL, MSFT with all currently higher. ORCL notably lower with debt concerns a concern. Storage names MU, WDC, SNDK strong as storage is a hardware play on AI data centers which is immune to the TPU debate which has benefited GOOGL, AVGO at the expense of NVDA.  SPW, QQQ, IWM, TSX are extended above the weekly expected move and short term volume value regions driven by a sharp decrease in vol and closure of puts and can continue today but reward/risk has decreased.  May see some unusual moves when futures open so take care when the market opens. For now it looks like risk-on today with positioning into next week suggesting caution.

SPY 682  Resistance 682, 685  Support 680 678 672  QQQ 617  Resistance 620  Support 615 613 610
Daily Expected Move. SPX(6888-6736)  SPY(687-672) QQQ(618-610)  IWM(249-245)

Stocks to watch SNDK, MU, GOOGL, AMZN,  ORCL, CME Speculative MARA, SOFI
Indices IBIT, MSOS, QTUM, SLV, ARKF, UNG, ARKK, TLT

S&P500  MU, AOS, WDC, STX, CCL, EQT, AMD, SMCI, FMC, EQR, ORCL, KHC, AMCR, DOW, AMTM, CME, PWR, RTX
Other SNDK, CLSK, BMNR, CRCL, MARA, SOFI 

AMZN

AMZN has pulled back from the highs as money has flowed from the leaders. Large call position at 230 will act as resistance with long above  with targets 235 and 240 and below support at 225. AMZN will likely move with release of black Fri sales and Cyber Monday. AMZN 20ema 230.6 and 50sma 227.6 may be used as reference levels. AMZN has had a strong bounce with the market and remains to be seen whether it is a dead cat bounce or a trend change with 230 the key level