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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 – slight positive  set-up

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

      •        Yields: 30Y Bond –0.03%  Currencies:  USA$-0.15% CAD +0.10% YEN +0.12%  BTC/USD+5.5%  Vix:18.2

      •        Events USA  Missile strikes Israel Iran over weekend following Israel strikes on Beiruit

      •        Stock News:VFS-8.1%  CPB+1.7% FCEK+4.7%    Earnings
Equity:USA indices are bouncing post Fri liquidation event with usual suspects of semis, AI names leading to upside. Korea was halted overnight  with a -8% drop as parabolic moves in memory companies Samsung and Hynix reversed. MU and DRAM ETF are bouncing premarket and watch to see whether this continues or whether bounces are sold. Friday liquidation resulted in value/quality strong bounce and momentum lower. Premarket momentum is back  but MAGS are lagging the QQQ. Leading the MAGS are NVDA, AVGO, TSLA, AMZN and lagging are MSFT, GOOGL, AAPL, META.  High call skew and crowding in semis and AI were a major factor in the Fri pullback and premarket action indicative of either short covering or monkeys are still at it. SpaceX IPO this week, is 2x oversubscribed and brokers are marketing to retail and reducing requirements to buy so potential for money to leave large names to participate in the IPO. Dispersion reduced this week but premarket looks to be back hence large moves in semis and AI sucks capital away from software and other sectors.  Question is whether the premarket bounce is short covering or the start of a bounce with legs.  SPY, QQQ, IWM closed below the 20ema and convenient pivot level to use. SPX 7430/00 are lower pivot levels and 7470 is an upper pivot level to watch.  Oil bounced Sun night with Middle East missile attacks but falling premarket which is contributing to the USA equity bounce.  Oil market seems to be disregarding  SoH closure and falling inventory and reacting to the Trump “close to a deal” but risk of moves on tweets or more missile attacks. US 10Y moved > 4.5% with the NFP better than expected but currently falling premarket with oil and if it continues lower is positive for small caps.
Stock MU AVGO NVDA DRAM    MSFT GOOGL   Speculative PL LUNR NVTS
Indices ETHE IBIT SMH ARKK QTUM AIPO XLK MSOS USO   UNG US$

S&P500 MU SMCI SNDK AVGO INTC NVDA HOOD ORCL TSLA AMZN
Other  TNGX NRIX MRVL NNE PL LUNR USAR STM BMNR NVTS AAOI TSM  NVO

NVDA

NVDA bouncing premarket after a sharp drop Fri. Upper expected daily move is 210 and price above premarket. One can use 210 as a pivot level with 215 an upside target and below 208.4 potential to retest the 205 level. Above 215, calls can lead to a squeeze higher. Semis in general are bouncing premarket which may be short covering or BTD so would treat with caution as  bagholders may sell into bounces.