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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 -0.16% Currencies: USA$ +.08%, CAD +0.13%, YEN-0.36%, BTC/USD +-2.3%, Vix:18.15

·       Events: EUR: CPI inline, unemployment 6.4% vs 6.3%

·        Earnings Stocks: MDB+22%, CRDO+17%, SIG-4.13%, BNS-0.18%
Equity: USA higher premarket following Mon weakness. Small caps, biotech and spec tech leading so potentially risk-on day with no USA econ news so 0DTE in control. MAGS are led by AMZN, NVDA, with AAPL the laggard. MDB, CRDO in the tech sector are above the expected move and worth watching today as shorts are being squeezed. BNS is flattish with ok earnings. Laurentian bank is being sold to Fairstone and National bank.  Gold and silver are pulling back premarket. Silver implied vol is very elevated as call buyers have been squeezing, which is a warning sign for a reversal. Bitcoin is higher premarket, and MSTR is higher after creating a pool of cash to pay the dividend on preferreds without selling bitcoin. MRVL reports after the close, in talks to buy Celestial, and can be a semi mover. SPX 0DTE positioning is light today, with 6815 the level to watch with chop potential unless a larger position appears after the open.

SPY 681.8 Resistance 684 685 Support 680 675, QQQ 619.5 Resistance 620 622 Support 615 612
Daily Expected Move. SPX(6850-6775), SPY(684-676), QQQ(622-612),  IWM(248-243)

Stocks to watch AMZN, MRVL, AVGO, NVDA, SLV, NEM Speculative CRDO, MDB, MSTR
Indices ETHE, IBIT, UNG, ARKK, ARKG, SMH, MSOS, QTUM, IWM, SLV, KWEB, GDX, GLD, TLT, /CL

S&P500 TER, DXCM, WBD, SNPS, SMCI, SOLV, MCK, HOOD, NEM, JKHY, LEN, BIIB, MRNA, BMY, WMB, VTRS
Other BMNR, MSTR, INTC, IREN

MRVL

MRVL reports earnings after the close. Expected move +/-10 with large call positions at 100, 105, and IV skewed to the upside.  MRVL has erratic performance post earnings, with moves of 2x the expected move ⅗ times.  One can consider calendar or diagonal structures for directional or neutral trades. MRVL has run up ahead of the report so will need to provide a strong forecast