.

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, Copper,  Palladium, Oil, natgas, AGGS,  Bitcoin

·         Yields: 30Y Bond +0.19%  Currencies:  USA$ -0.02% CAD +0.05% YEN -0.12%  BTC/USD+0.57%  Vix:20.75

·         Events:USA: GDP, PCE 830ET; PMI 945ET; UofM 10ET Canada: Retail sales 830ET

·         Stock News:RNG+9.5% TNDM+8.8% OPEN+17%    PPL-3.9% AKAM-10% HDM-3% CC-9% NEM-3%    Earnings APP+4.4% planning on launching social media site 

·          Equity:  USA indices lower overnight ahead of USA economic data. PCE and GDP price index higher than expected and GDP weaker than expected which is a stagnation like print and initial reaction was indices lower. Further data at in the morning may be market moving. MAGS are led by GOOGL, AMZN with remainder lower with NVDA earnings to be reported next week. Private credit in the news again with OWL restricting exits from a credit fund which is weighing on companies like BX, APO and weakness in private equity can negatively impact the financing of data centers and software companies. Oil, gold, defense stocks higher as the media hypes the probability of the USA attacking Iran. APP higher on announcement of launching a social media site and on watch today as well as whether impacts META.  QQQ premarket is approaching the 600 put wall which is a key level for bounce or acceleration lower. SPX < 5850 brings 5800 into play with 5800 the must hold level. Today is Opex and the week post Opex can be more volatile with larger moves possible in either direction. NVDA earnings may be the key data point.

·         Daily Expected Move. SPX(6926-6797)  SPY(691-678) QQQ(610-597)  IWM(268-261)

Stocks to watch GOOGL AMZN APP NVDA AMD MSFT NEM Speculative TEM  OWL
Indices SLV IBIT GLD ARKX TLT XLU  KWEB XBI IWM XLE /CL UNG

S&P500 APP CSGP CTRA GOOGL XYL DECK HOOD GE AKAM CPRT NEM BWA PPL MOH BBY VTRS MRNA EXPE
Other AXTI TEM RCAT CRCL HL AG SAN  SBSW GRAL WTTR CRWV OWL BABA JD NVO BEKE

QQQ

QQQ 600 is the put wall which can act as support but below there are large put positions at 595 – 580. Risk is an acceleration lower, especially next week post Opex and NVDA earnings. Positioning can lead to large moves in either direction so traders should be on their toes.