.

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 – negative set-up

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

·         Yields: 30Y Bond +0.37%  Currencies:  USA$ +0.36% CAD -0.22% YEN -0.23%  BTC/USD-1.12%  Vix:21.45

·         Events:USA: NY Fed mfg 830ET  CDN: CPI 830ET

·         Stock News:CCEP+1% LH+3.3%   MDT-2.6% GPC-5.5% GIS-3.4% VM-6.9%   Earnings NCHL+7.5% Elliot mgmt buying;  DHR potentially buying Masi

·          Equity:  USA indices are lower premarket with QQQ leading to the downside with weakness in tech with both semis and software lower. China is closed this week which removes some liquidity. Longer yields are sharply lower following Japanese yields and boosting utes, reits. US$ is higher as are bonds and volatility which is a traditional risk-off signal. Higher US$ is negative for precious metals and miners. Crude higher as USA/Iran tension continues. AI basket weak is weak premarket with memory names, NVDA, GOOGL, ORCL, CRWV, NBIS  lower. AAPL is the strongest MAGS and may benefit from defensive rotation after 2 days of selling. IWM is outperforming but lower as less affected by large cap tech distribution. QQQ is at the center of risk and while below the 600 put wall has risk of lower levels and one can use 595 a reference level. SPX 6800 is the key level to watch which is the put wall and can lead to increased vol below. IV is elevated and with positioning bearish, the indices can make fast intraday moves in either direction.

·         Daily Expected Move. SPX(6900-6772)  SPY(688-675) QQQ(610-593)  IWM(267-259)

Stocks to watch NFLX NCLH AAPL SLV NVDA MU  Speculative MASI SBSW CRWV
Indices /CL XLE UUP TLT XLU XLRE XLF GDX SLV ETHE UNG GLD SMH UFO IGV XLK IBIT ARKK QTUM QQQ

S&P500 NCLH LDOS AFL LH PSKY FISV WBD SOLV DLTR VMC GPC DHR VLTO MLM NEM INTC FCX
Other ZIM MASI KD INFY FISV VNET SBSW CNH AG CRWV CDE MSTR EYPT HL NBIS FSLY RIVN WULF ASTS

PANW

PANW reports earnings after the close with an expected move of +/-13.  Call wall 200, Put wall 170 but significant put positioning until 150. PANW is an important name as has been sold off with other software stocks and will provide an indication whether security companies are negatively impacted by AI.   If looking to trade directionally, diagonal trades can benefit from the very elevated short term vol. Short term vol is high but potential for an outsized move in either direction so some caution with selling vol into the print in the short term