.

Laurie’s AbbreviatioLaurie’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, Oil, natgas, AGGS, Industrial Metals, Bitcoin

·       Yields: 30Y Bond -0.3%  Currencies: USA$-0.02%, CAD +.03%, YEN+0.56%, BTC/USD+0.5%, Vix: 16.4

·       Stocks: SAIL -8.7% EPS NBIS +54% deal with MSFT lifting IREN, CRWV, APLD
Events: USA: QCEW adjustment to past employment reports. Expected adjustment -500k to -700k 10ET; AAPL Iphone 17 event 13ET; ORCL earnings after close
Equity: USA indices neutral ahead of QCEW 10ET, which is an update to the March USA employment estimates with expectation for revisions of -450k to -750k. Given market fixated on Fed rate cuts due to slowing employment, look for a reaction on the print. NBIS signed a $17M data center deal with MSFT and stock squeezing higher and lifting similar names IREN, CRWV and APLD. AI trade alive for another day.  MAG7 are higher premarket ex-AAPL which has an iphone 17 launch at 13ET.  AVGO, META,  MSFT, PLTR leading large cap tech names premarket. US$ is lower and yields higher which is providing a continual lift to China, gold, copper but a negative for bond proxies like staples. UNH higher after reaffirming it’s 2025 EPS outlook, market is looking past DOJ investigation and past foibles.
OCTO, the latest crazy name is +14% and a day trader’s dream. SPX 6505 is a bull bear level. Positioning is set-up for a low range day ahead of the upcoming PPI, CPI with a small potential for QCEW surprising the market at 10ET.

·       SPY 649.6 Resistance 650 652 Support 649 646 645, QQQ 579.8 Resistance 580 Support 579 577.8 575

·       Daily Expected Move. SPX(6524-6466), SPY(652-646), QQQ(582-575),  IWM(240-236)

Stocks to watch: MSFT, NVDA, AVGO, UNH, ALB Speculative OCTO, NBIS, IREN, APLD
Pre-800ET
Indices MSOS, UNG, KWEB, ETHE, GDX, IBIT, QTUM, GLD, XLV, TLT, EFA, SLV, XLB, XLP

S&P500 UNH, AVGO, ORCL, ALB

Other NBIS, TECK, IREN, CRWV, APLD, UUUU, UNH, BILI, CORZ, SATS, BMNR, SBET, RIOT, SAIL, ALB, ASTS, NVO

SPHR

SPHR has surged the last 4 days. Very extended but potential continuation above 55 or dip buy on pullback > 50. ATR 2.4 or +/-5%