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

·         Yields: 30Y Bond +0.14%  Currencies:  USA$ +0.03% CAD -0.02% YEN -0.58%  BTC/USD-0.33%  Vix:18.65

·         Events: USA: ADP 815ET; ISM service PMI 10ET; Treasury QRA 830ET

·         Stock News: SLAB+50%, SMCI+10%, JCI+8.9%, LLY+8.7%, GEHC+3%,     AMD-8.9%, BSX-8.9%, UBER-5%, NVO-4.3%,  TXN buying SLAB $7.5B

·          Equity:  USA indices relatively flat premarket with IWM leading and QQQ lagging. AMD moved down to lower expected move   with earnings report that exceeded expectations but AI related growth not good enough. Semis mixed with NVDA positive but MU lower and SMH lower premarket. Healthcare is the leading S&P sector with LLY higher on earnings. GOOGL higher into earnings report after close which will be important to the QQQ and S&P as GOOGL is the now carrying the MAGS and AI torch.  There is ADP employment data and with no non-farm payrolls report this may be market moving as will the ISM services report at 10ET.  SPX 0DTE has largest position at 6920 which can be used as a line in the sand. It needs to get above 6950 for positioning to turn bullish and dampen the extreme intraday vol currently being observed in single stocks. Single stock vol is abnormally high c.f. index vol and is becoming very elevated in the software sector which is being killed and now with puts in demand and expensive, potentially setting up for put selling. Earnings movers to watch today: Positive- LLY SMCI JCI ENPH LITE  Negative: AMD BSX UBER. Precious metals continue to be in play with IV very elevated and moving the miners with the metal. Bitcoin and crypto are still searching for a bottom and the treasury companies are plummeting.
 

·         Daily Expected Move. SPX(6965-6870), SPY(694-685), QQQ(623-610),  IWM(265-260)

Stocks to watch PLTR AMD GOOGL TER AMZN   PYPL PFE AAPL BABA  Speculative HYMC CRML RMBS
Indices SLV GDX GLD XME XLV IWM /CL XLU   ETHE KWEB IBIT SMH XLK ARKX ARKK

S&P500 ENPH SMCI LLY JCI EMR GEHC TTWO  BSX AMD CMG BG UBER COR TXN SWK CLX
Other ENPH LITE GSK SAN HL CDE COHR VOD UL  NVO RELX IREN CRWV CRML BMNR

GOOGL

GOOGL reports after the close. Expected move +/-20 with IV this week 94% and 66% which is a set-up for calendar/diagonals. Call wall 350 and Put wall 330 but positioning in both calls and puts can lead to a larger move. GOOGL has stayed inside the expected move 5 of last 6 reports so potential iron condor candidate. Butterflies are a strategy for a directional trade with high reward to risk.