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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 – positive set-up

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

·         Yields: 30Y Bond +0.0%  Currencies:  USA$-0.15% CAD -0.03% YEN -0.05%  BTC/USD+0.31%  Vix:18.6

·         Events USA
Stock News:SPCX +5.4% bid up after IPO ROKU being bought by FOX
Equity:Global indices higher on plan for MOU between USA and Iran to end war and open SoH to be signed Fri in Geneva.  Last week vol spiked and indices fell with USA resuming strikes and then reversed with MOU “close” news. Drop in vol and closing of shorts will mechanically lift markets. Oil and US$ have fallen which can reduce inflation fears and hence FOMC rate increase fears. Monkey reaction is to buy (close shorts) in retail, airlines, precious metals and miners. Foreign equities, especially oil importers are beneficiaries of lower oil prices. MAGS are all higher led by AMZN and NVDA but MAGS have underperformed SPY, QQQ since Jan. Semis are outperforming with memory names like MU SNDK making large moves as momentum is still king or a potential MOU on ending a war means more memory bought. Seriously, GCC have plans to build data centers (or rebuild ones blown up) and Koreans are mortgaging their children to buy stock which can squeeze memory. MU positioning is skewed to calls with high IV as it climbs the wall of greed for now.  SPCX calls start trading Tues and Russell 1000 add will be Jun 26 and QQQ add Jul2-7. Float is currently low 4-7% so can squeeze due to demand for index add along with retail monkeys chasing. Supply will start to increase late July which is when it can take a breather. Space names corrected Fri with SpaceX IPO. RKLB will be added to the Nasi100 June 22 and SATS has a deal with SpaceX which closes in Nov and SATS can receive up to $11B of SpaceX stock so is potentially a longer term idea for trading SpaceX at a discount assuming deal closes. SPX is above the 7500 call wall which is a level to watch with upside 7570 and 7430 downside should 7500 not hold. Caveat, the market is higher on an end to SoH closure and end of war. The MOU signing date is planned for Fri and risks are Israel ending war in Lebanon and contradictions between USA and Iran on the terms. For now its party-on into Thurs Opex but one missile or tweet can change the situation.
 
Stock MU GDX NVDA MRVL FOX XLE   Speculative HL TRIP MARA CLSK
Indices GDX ETHE SLV IBIT QTUM AIPO XLK ARKK GLD XME USO XLE UNG  

S&P500  MU SNDK HOOD SMCI AMD QCOM NCLH CCL INTC AVGO ORCL SATS GOOGL FOX

S&P400 HL AAL HIMS SATS PATH
S&P600 TRIP CLSK MARA

SMCX

SMCX is a potential squeeze candidate with low float and Russell 1000 and QQQ addition soon along with retail interest.

Anchored VWAP to opening 15min candle is 164 which can be used as a support on dips. Premarket high 170 is a potential momentum breakout level. Options start trading on Tues and volatility will likely be elevated which will make covered calls or put selling potential strategies.  Likely skew will be tilted to calls so spreads would be an upside strategy however bid-ask spread will likely be wide.