.

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 – slight positive set-up

·         Commodities:  Gold, Silver, Copper, Palladium, Oil, natgas, AGGS,  Bitcoin

·         Yields: 30Y Bond -0.21%  Currencies:  USA$ +0.12% CAD -0.07% YEN -0.31%  BTC/USD+2.3%  Vix:20.85

·         Events:USA: CPI  830ET

·         Stock News:ANET+12%, AMAT+11.8%, COIN+5%, ROKU+15%, BROS+13%, MGA-9.8%, EXPE-6%, TWLO-2%, PINS-20%, DKNG-15%, WEN-4.5%, CCJ-2%    Earnings

·          Equity:  USA indices are lower ahead of CPI print.  Indices are close to lower weekly expected move with IV elevated which is set-up for a strong bounce should CPI come inline or lower. Conversely a notably higher print can lead to a larger move lower due to the put positioning. SPX 6800 and QQQ 600 put walls are the clear lines in the sand. Earnings reported by AMAT, ANET continue to stoke the meme that semi mfg and AI data center spending is still strong while meanwhile the hyperscaler spending the money are watching their stocks get whipped. *** Core CPI 0.3% m/m, CPI 0.2% vs 0.3% m/m CPI 2.4% vs 2.5% Reaction: SPY, QQQ, IWM bounce TLT higher US$ lower metals higher. Note: exactly as one would expect as the IV falls with the data being reported and the rate cut bros get a glimmer of hope. Small caps are typically the biggest beneficiary.  The question for today is whether the mechanical bounce can continue in RTH and give a big bounce like last Fri as puts & shorts cover. MAGS post CPI neutral but with 0DTE today there should be opportunities.  

·         Daily Expected Move. SPX(6912-6753), SPY(689-673), QQQ(609-593),  IWM(264-255)

Stocks to watch SLV AMAT ANET IBIT DKNG PINS BABA  Speculative RIVN RDDT  NBIS
Indices SLV IBIT ETHE ETHE GDX GLD UUP UNG KWEB XME XLB EFA QQQ ARKF XLY XLE FEZ XLK

S&P500 ANET AMAT ABNB LRCX HOOD EL SYF WELL AEP EXPE STLD WYNN NUE MAS DLTR NCLH PAYC IP
Other TPH RIVN ROKU BROS RELX BMNR RDDT FSLY PINS DKNG AMKR BABA NWG CLF BE VALE BHP JD NBIS

COIN

COIN is higher despite an earnings and revenue miss. Shorts are covering premarket and price is at the 155 call wall and above can squeeze to 160+. Alternatively can become a sell the rip hence should watch VWAP with downside targets 152.5, 150. Bitcoin is bouncing a tad premarket which is supportive for bitcoin related securities.