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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 -.16% Currencies:USA$ -0.02% CAD +0.24% YEN-0.21% BTC/USD +2.8% Vix:17.3

·       Events: Germany: Industrial production better than expected

·        Stock News: CVNA +8.8% and FIX added to S&P500 MRVL -6% not added; TSLA -1.25% downgrade; MU+2.7% upgrade; HOOD+1.6% acquiring Indonesian brokerage; CRWV-5% $2B note offering CFLT+29% acquired by IBM
Equity: USA indices mildly higher led by small caps, speculative tech so risk-on in NY premarket. S&P500 added CVNA and FIX with CVNA a high short interest name hence potential squeeze. MRVL was a potential add name and is being sold down, may be a buy the dip name in the AI semi bucket.  Monkeys are buying names reporting earnings this week with AVGO ORCL higher and AVGO also boosted by report that MSFT may turn to AVGO from MRVL for custom chips. MAGS are led by AVGO, NVDA, AMZN with TSLA lagging on a downgrade. Speculative tech higher with Genesis act that focuses on quantum, space, robotics and AI as the USA govt is prioritizing to compete with China. Bitcoin is attempting another bounce lifting usual suspects (MSTR, MARA, BMNR) , 95k will be important level to exceed and hold. ETHA outperforming IBIT due to higher volatility. HOOD and COIN are ways to to trade a crypto revival. SPX 0DTE is positive gamma for the day with range of 6900-6850 likely range. SPX 0DTE IV is low so expect sudden moves on no news intraday with reversion.

SPY 687 Resistance 689 Support 686.5 685, QQQ 627.8 Resistance 630  Support 626 625
Daily Expected Move. SPX(6907-6834), SPY(689-682), QQQ(630-621),  IWM(253-249)

Stocks to watch AVGO, CVNA, MU, IWM, ORCL, MRVL, TSLA    Speculative CFLT, CRWV
Indices ETHE, IBIT, ARKG, SMH, QTUM, XBI, ARKF, IWM, ARKX, UFO, XLU,  UNG/CL, SLV, MAGS, TLT

S&P500 ALB, MU, GNRC, WY, HOOD, SMCI, APP, DLTR, CPAY, ODFL,  INVH, TSLA, OXY, MRNA, L, WBD, HPE, BRK,
Other CFLT, CRH, BMNR, SNDK, SMR, MARA, QBTS, RGTI, CLSK, CRCL, RKLB,  MRVL, CRWV, LCID, RIVN, NVO, SOFI

TSLA

TSLA is lower on a downgrade but has had bullish call flow and typically one of the most active names. Major option positioning at 450 and 440 with finer granularity every 2.5. 447.5 is a pivot level. Above look for 450+ and below look for 445- with 440 support. Above 450 potential squeeze to 500. Expected move for the week is +/-22.  Usually TSLA is bullish if market is positioned risk-on and usually gets a retail bid on Mondays so default thesis is dips will be bought but need to see confirmation.