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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 +0.08%  Currencies:  USA$+0.12% CAD +0.04% YEN +0.01%  BTC/USD-0.56%  Vix:20.55

      •        Events USA: Fed Williams speaking; Trump says war ending soon UK: GDP better than expected
Stock News:    TSM-1% ABT-3.7% SCHW-1.5% TRV-1.5%   PEP+1.3%    Earnings 
Equity: USA indices flattish but international higher with China and Taiwan leading. USA indices have squeezed to the call walls and above the weekly expected moves and the 10d move in the S&P is at the 99.7% of 10d moves since 1950. All to say a record move from the lows since the USA/Israel attacked Iran. The war has not ended and oil and other products remain in deficit but short squeezes are a powerful force. Although common sense  and technicals suggest the easy money has been made, the squeeze can continue but caution is an idea.  TSM is the big name reporting with earnings beat and guidance raised but trading lower following ASML Wed. Software had a big day Wed and is continuing premarket and meanwhile semis are lower. This is likely an unwind of a popular hedgefund trade, short software and long semis. Short squeezes also evident in TSLA, AAPL moves Wed and in ARK etfs.  Index volume has been subdued in the record bounce and volatility is increasing so will be watching for signs that the squeeze is reaching crescendo. Until then can ride the squeeze but in the back of the mind, remembering that the Iran war is not over and shutter of Hormuz logically has real world impacts.  NFLX is the big name reporting after the close and AA will give a glimpse into the aluminum market

      •        Stock AVGO HOOD MS  IGV   ASML MU NVDA   Speculative  IONQ SOFI  AAOI
Indices IGV KWEB QTUM USO GDX ARKX ARKG ARKK NUKZ  ETHE IBIT SMH XBI

S&P500 NOW ORCL HOOD DDOG CRM APP ADBE PANW MSFT DELL   ABT GLW SCHW MU CRH MU
Other OKLO HMY SOFI IONQ RKLB BIDU FIG SAP TTE BABA TEAM RDDT ASTS U RBLX  FLUT CRDO ASML AAOI

SHOP

SHOP is a laggard name that bouncing with the rest of the laggards.  Option positioning indicates resistance at 135 and above 145 is a major level which can lead to acceleration. Earnings May 8 and if market can hold up and short squeeze continues there can be a run into earnings. Caveat is SHOP at risk if/when the squeeze ends.