.

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 +0.32% Currencies: USA$ -0.15%, CAD +0.05%, YEN+0.03%, BTC/USD-0.1%, Vix: 20.45

·       Stocks: MAN+5%, SCHW+4.5%, TSM+1.9%, USB+1.7%, UAL 0%,  TRV-5.2%, MMC-3.4%, INFY-0.7% EPS
Events: USA: Philly Fed 830ET 830ET; FED speakers CDN: BOC Maklem 130ET
Equity: Global indices higher with USA indices currently above weekly expected moves. TSM positive earnings reaction (despite lower Q4 revenue guide) is lifting AI semi names like MU AVGO NVDA. MAGS are led by NVDA and AVGO, but all positive. CRM has moved above the daily expected move on a FY30 revenue forecast which magically lifts the current revenue trend. Stock has been a dog and likely short squeeze at least in premarket. SNOW is also bouncing, likely due to CRM and a deal with PLTR.  Gold and silver continue to advance with sky the limit. UAL lower despite better than expected earnings. ETHE bid but bitcoin lower premarket. Monkeys are buying the dip in rare earth metal names CRML MP UAMY along with nuclear and AI names and selling some Quantum.  NVTS has been hot, its a high voltage semi name that had a news release with NVDA, which is an algo buy signal. Wed ASML bounce was sold so watch reaction today in NVDA, TSM et al. IMO TSM results are not better than my expectations and data center growth rate is flattening, but smartphone picked up ergo would not be a shock if the bounce is sold. SPX0DTE looks well support with 6735 the large upside target but no large support levels below which creates the potential for intraday action like Wed where pulled back after hitting the large strike. Hence thinking bullish > 6700 and cautious below.

SPY 667.7 Resistance 669 670 Support 665 662 660, QQQ 605.4  Resistance 609 610 Support 600 599 565
Daily Expected Move. SPX(6719-6623), SPY(670-660), QQQ(609-595), IWM(253-248)

Stocks to watch TSM, NVDA, SCHW, UAL Speculative CRML, SMR, MP, NVTS, RGTI, QBTS
Pre-800ET
Indices ETHE, NUKZ, XME, GDX, MSOS, SMH, GLD, QTUM, IGV, XBI, XLK, UUNG, SLV, US$

S&P500 CRM, MU, SCHW, WBD, ORCL, NVDA, HOOD, PLTR, GOOG, HPE

Other CRML, SBET, ACHR, SMR, MP, NVTS, TSM, APLD, UAMY, SOUN, RGTI, QBTS

CRM

CRM has popped 1.5 standard deviations with a FY2030 revenue forecasting a greater revenue growth rate than the company has been delivering. CRM is thought by many as an AI loser and likely the move is short covering.  CRM has moved to prior fail levels and one can use 250 as a key decision level. If traders are skeptical of CRM management making 5yr revenue projections, it can potentially be a fade. Needham is a believer (or wants some business) and has raised the price target to 400. If CRM can advance > 250 then the believers are stronger than the skeptics (like me).