.

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 –negative   set-up

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

      •        Yields: 30Y Bond +0.53%  Currencies:  USA$+0.09% CAD +0.06% YEN +0.04%  BTC/USD-1.74%  Vix:18.15

      •        Events USA: Industrial Production 915WT; Consumer Confidence 10ET
Stock NewsNFLX-10%     Earnings
Comments USA indices lower as semis and AI names continue to weaken as Korea KOSPI continues to fall. QQQ is leading to the downside with NVDA leading the MAGS to the downside. Traditional defensive setup with TLT, XLP, XLU higher and providing ballast and RSP flat which indicates that the main issue is distribution of high beta tech. QQQ is below the put wall and below the anchored vwap from the April first ceasefire tweet and now at a must hold level. NFLX lower post earnings at the lower expected move and one to watch for bounce or continuation. Oil higher as risk of further SoH tension and potential closing of Red Sea ports is added to the mix but IMO market is still not pricing in the worst case. USA industrial production and consumer confidence may be market moving today.    SPX 0DTE is now below major support with 7465 minor support with 7400 below and resistance 7515. Today is July Opex and may see higher volatility into the close and potential for increased volatility next week. QQQ is below the weekly expected move hence risk of an outsized move.

      •       
Stock WMT XLP XLU  NFLX MU MSFT AMZN    Speculative   INTC AMD
Indices /CL XLE TLT XLP GLD  KWEB DRAM SH ETHE IBIT IGV XLK QQQ MAGS

S&P500 WMT   NFLX AMAT LRCX INTC COIN PLTR AMD DELL GLW NVDA HOOD MRVL NOW
Other FCEL  BILI GSK STM ASX CRDO AAOI TSM ARM NVTS MXL NOK CRWV AXTI BABA ZETA BE

NVDA

NVDA has fallen to the key 200 level premarket which is the largest option positioning level. One can use a straddle approach with long above 200 and fade below. Daily expected move is +/-9 so alot of movement expected. VWAP is a good indicator to use and NVDA 0DTE options are available for a day trade with caution that the first 30min may be choppy