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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 negative global set-up

·       Commodities: Gold, Silver, Oil, natgas, AGGS, Industrial Metals, Bitcoin

·       Yields: 30Y Bond -.3% Currencies: USA$ +.16%, CAD -.68%, YEN -.21%, BTC/USD -1%, Vix: 18.55

·       Stocks: TSLA-6.4% Elon/Trump spat BULL-9% potential $1B equity issue WNS+14% acquisition CORZ-14% being bought by CRWV-5%
News: USA: USA indices pulled overnight as WH has sent out mixed messages regarding tariffs. Bessent tweeted that tariff change may be pushed to Aug for countries that are cooperating. Trump tweeted that letters will be sent today and threatening an additional 10% on BRICs countries. Indices are bouncing premarket so the manic buy the dip so far is intact. TSLA is the stock of the day as Elon is talking about forming a third party and continuing the spat with Trump. Otherwise MAG7 are led by MSFT and AMZN with NVDA GOOGL NFLX lower. If QQQ does not move lower and TSLA doesnt bounce, algos will buy other MAG7 to balance. AMZN has a prime day this week so is a candidate, but NVDA is always popular with option traders. US$ is up slightly and may be leading to pullbacks in gold and other metals along with aggs. TLT is lower as global long yields are rising. Indices are technically extended but with positioning, expect 0DTE traders to sell vol and support USA markets. Caveat is the tariff letters which will be potentially issued throughout the day. Specs: CRWV is buying CORZ in a all stock deal. Both stocks are lower which suggests that the acquisition price is lower than the market expected. Watch other miners like MARA, RIOT, HUT as the initial reaction is for them to pullback. RKLB is higher with a Pavlovian reaction to the Elon squabble and another spec name to watch.

·        

·       Simple bull bear levels: SPY 622.6, QQQ 552, IWM 221

·       SPY 624.5 Resistance 625 629 Support 622.6 620, QQQ 554.9  Resistance 555 560 Support 551 550
Daily Expected Move. SPX(6314-6245), SPY(629-622), QQQ(561-551),  IWM(226-221)

Stocks to watch AMZN, MSFT, TSLA, FCX, CRWD Speculative RKLB, PONY, BULL
Pre-800ET
Indices UUP, USO, KWEB, UNG, GDX, SLV, ARKK, GLD, XLY, IBIT, ARKG, SMH, TLT

S&P500 MRK, BA, TSLA, FCX, NEM, MGM, MRNA, CRWD, ALB

Other APGE, WNS, RGC, BILI, LI, IREN, RKLB, RUN, PONY, BULL,  XPEV, STLA, QBTS, HIMS, SOUN, BABA, TEM, TSM

TSLA

TSLA is lower after Elon-Trump squabble continued with Elon talking about forming a new political party. TSLA major option position at 290 which is a downside target for a fade. 300 is a large put level and may act as resistance on a bounce with 310 and higher targets above. One can consider fade < 295 and long > 300 using VWAP to assist