.

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 – positive set-up

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

·       Yields: 30Y Bond +0.11% Currencies: USA$-.12%, CAD -0.09%, YEN-0.11%, BTC/USD+0.68% Vix: 17.55

·       Stocks: ZS+1%, M+11.9%, REVG+7%, DLTR-3% EPS GOOGL antitrust trial ruled in favor, both GOOGL and AAPL higher premarket. Many GOOGL upgrades as a result   
Events: USA: JOLTS and factory orders 10ET;
Equity: USA and European indices higher post the Monday pullback. SPY and QQQ dropped to the lower weekly move before rebounding with 0DTE put sellers lifting the indices. GOOGL and AAPL are the market drivers today post the anti-trust ruling that GOOGL does not need to divest Chrome and can continue to pay AAPL which is lifting both stocks. QQQ is leading due to the GOOGL/AAPL move with RSP flat indicating that the capital move is concentrated to a the large cap tech names at the expense of the remainder of the S&P500. SPX6400 is a bull/bear level to watch today. There are large 0DTE positions at 6445 and 6375 that set the potential goal posts with accelerated moves above and below. Jolts data 10ET may be market moving. Post earnings names: ZS pop and drop on beat; M pop and DLTR drop. QQQ has been a laggard and will be watching whether the bounce is bought or used as exit liquidity today. NFP payroll Fri may keep volatility bid into Fri. Gold, GDX continues to be strong but getting very stretched technically along with Silver so take care with risk management.

SPY 642.5 Resistance 643 645 Support 642 640, QQQ 569 Resistance 570 572 Support 565 560
Daily Expected Move. SPX(6470-6361), SPY(646-635), QQQ(572-559),  IWM(236-232)

Stocks to watch GOOGL, AAPL, TSLA, M, DLTR, BABA Speculative SMR, IREN, HMY, XPEV
Pre-800ET
Indices ETHE, MAGS, UNG, XLC, GDX, QTUM, QQQ, IBIT, ARKK, XLK, XLE, KWEB, IWM, XLF 

S&P500 GOOGL, AAPL, TSLA, DLTR, CVX

Other M, SMR, IREN, HMY, JOBY, AU, BMNR, HIMS, CDE, CRCL, SBET, OKLO, TSM, XPEV, JD, BUD, BABA

GOOGL

GOOGL has squeezed with the anti-trust decision, which wasn’t unexpected IMO, but has squeezed the shorts probably since Mon was a weak day. Large options at 225 and 230 are levels to watch. Premarket low 222.4 is a reference level for buy the dip above and a drop below is a warning signal. 230 is likely upside resistance and a move above is indicative of a further squeeze. Analysts are tripping over themselves, increasing price targets 250-270. It’s a 3 standard deviation move, so a period of consolidation/digestion would not be surprising.