.

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 +0.6%  Currencies:  USA$-0.15% CAD -0.05% YEN +0.13%  BTC/USD+1.47%  Vix:18.6

      •        Events USA: Durable goods 830ET USA 2y, 5y bond auctions 11, 13ET ;

      •        Stock News AZN+1.2% BKR+2.5% VOD+4.7%    Earnings
Comments Global indices higher with catalyst that USA didnt bomb Iran on the weekend after Trump hinting of a massive attack. Media attributing to reports that USA is running out of weapons and Iran saying that they only fire in response.  IMO there is no change to Iran stance that all ships must report for permission to sail and USA opposition so this bounce is for now a mechanical bounce with weekend hedges unwinding.   With FOMC and major earnings reports this week would expect  no major changes in institutional positioning.  Oil lower leads to 10Y yield lower and lifting metals and equity with semis, AI, biotech and high short interest names outperforming. MAGS are all higher with META, MSFT, AMZN which report this week leading. NVDA is higher but underperforming semis with a report that NVDA is supporting OpenAI expansion. Semis are bouncing with AI faves like MRVL AMD AVGO MU leading but not significantly outperforming.  Airlines and cruise stocks are higher with oil lower and would expect retail to be  higher.  Gap-ups with no actual change in the macro situation can be tenuous since it’s mechanical at first and needs follow through. SPX 0DTE indicates some support at 7470 with weakness below and upside pivots 7505, 7525.

      •       
Stock META AMZN NCLH AAL  USO    Speculative  NBIS QTUM
Indices ETHE DRAM ARKG MSOS SMH QTUM AIPO GDX ARKK SLV ARKF  USO UNG XLE UUP

S&P500 SNDK NCLH WDC MRVL ORCL SMCI AMD AVGO F HOOD MU COIN
Other FBRX NBIS SAP BE IONQ RGTI AAL APLD ASTS CRWV STM  CAPR VG BP SHEL

AAL

AAL is the poorest major USA airline with greatest sensitivity to interest rates and fuel costs. This is a short squeeze idea and hence risky. Pivot level 15 with volume resistance 15.17 and upside calls  targeting 17, 18. Note that AAL is effectively a short oil idea and so far the situation in SoH is unchanged and would expect AAL to dump if oil rises again. UAL and DAL are fundamentally better companies.