.

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 –0.34%  Currencies:  USA$+0.07% CAD +0.04% YEN -0.11%  BTC/USD-1.27%  Vix:16.7

      •        Events USA: Retail sales, Philly Fed  830ET
Stock News TSM-4.6% GE-3.75% USB-1%   UNH+6.15% JBHT+5.3%   Earnings
Comments USA indices lower premarket with QQQ lagging due to weakness in semi/AI names. Korea continuing lower as Samsung and Hynix unwind which spills over to MU SNDK, and WDC and to the general semi group. TSM, the largest semi mfg lower post earnings which were good but margin missed by 1%. Rotation into software and hyperscalers continues with MSFT, AMZN, AAPL, NFLX higher to compensate for NVDA and TSLA lower. China names are continuing higher with BIDU announcing that working with AAPL and AAPL approved by China for as a generative artificial intelligence provider. AAPL has been soaring in recent days perhaps with notion that China sales will increase. *** USA retail sales inline and core retail sales weaker; Philly Fed better than expected and continuing jobless claims lower. *** WTIC 80.6 rising premarket as SoH uncertainty increasing and higher oil can counter the lower CPI/PPI which has led to lower probability of Fed rate cuts.  SPX 7525 is the largest 0DTE support level and 7560 potential resistance. SPX is still well supported as long as > 7480

      •       
Stock BABA ASML MS  ELV MU NVDA    Speculative AEHR LION  CHKP
Indices KWEB XLV /CL UNG IGV XLP MSOS XLC  DRAM SMH ETHE SLV AIPO XLK IBIT ARKK

S&P500 UNH ABT CVS CRM   SNDK WDC COHR MU GLW MRVL LRCX AMAT INTC KLAC DELL GE
Other CMPS XPEV SHAZ BIDU RKT  ASTS UMC STM TSM NOK BE NBIS ARM PL NVTS RKLB OUST WULF CRCL

NFLX

NFLX reports after the close today. Expected move +/- 6. Option positioning is tilted to calls with IV percentile 100%. Option support at 65 and potential to squeeze above 75.  Potential strategies are butterflies for this week or diagonal trades to take advantage of elevated IV this week. One could also consider longer dated OTM vertical to trade a squeeze.