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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 +0.11% Currencies: USA$+0.08%, CAD -0.19%, YEN -0.01%, BTC/USD+0.25%, Vix:17.85

·       Events USA
Stock News: DELL+36%, NTAP+16%, MDB+3.5%, OKTA+7%, GAP-18%, S-17%, ESTC-8%, PATH-2.5% Earnings
Equity: Global indices are generally higher, with Europe and Japan leading and the USA indices flat. SPY, QQQ, IWM are at the upper weekly expected move, so in theory getting stretched, but the Axios tweet machine can continue to pump the market and depress oil. S&P 1-month correlation has dropped to 8%, which is typically associated with market peaks so a caution signal. Premarket tech is leading with software outperforming semi but both are higher. Positive earnings reactions for MDB, OKTA are supportive for software, which jumped Thurs with SNOW earnings. DELL outsized earnings reaction is lifting the AI space infrastructure companies like IREN NBIS. Space names are correcting today after a sharp rise with Blue Origin rocket exploding. ASTS is down sharply, though there was no satellite on the rocket, so watch how the stock reacts as well as other space names like RKLB.  MAGS are led by MSFT with the others ex-NVDA lower. Drone names are profit taking and names which have run up on euphoric weekly call buying may be at risk into Fri Opex. SPX is well supported as 0DTE put sellers are supporting markets with short-term support at 7560, 7540, and resistance 7590 7600.

Stock MSFT, ORCL, DELL, PLTR, SOFI, GOOGL, MSFT Speculative ASTS, LUNR, QURE, CRML
Indices IGV, UNG, XLK, QTUM, GLD, SMH, RSP, GDX, ARKF, IPO, UFO, USO, ETHE, XLC, KWEB, XLE, XRT, XLY, ARKX, SLV

S&P500 DELL, HPE, NOW, SMCI, HPQ, IBM, ORCL, QCOM, PLTR, MSFT, GOOGL
Other QURE, SOFI, KTOS, ARM, CRML, CRWV, INFQ, IREN, NBIS, XNDU, GAP, S, ASTS, RDW, LUNR, KRMN, RKLB, FLY

ASTS

ASTS pullback after Blueorigin Newglenn rocket, which ASTS has used as a launch vehicle. ASTS also uses SpaceX, but space stocks have been stretched ahead of the SpaceX IPO. ASTS has some option support at 110, which can be used as a reference level with stronger support at 100.  Straddle approach with potential bounce with 110 reference level and below 110 look for 100. Other space names like RKLB and UFO ETF are correcting and are potential bounce/sell candidates.