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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 – Neutral  set-up

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

·       Yields: 30Y Bond +0.16% Currencies:  USA$ -.20% CAD +0.11% YEN+0.27%  BTC/USD-0.94%  Vix:18.8

·       Stocks: DUOL-25%, CELH-11%, GOOS-6.4%, QCOM-1.4%, OSCR+7.5%, PENN+7%, IONQ+4.6%, FIG+4.4%, DDOG+8.5%, PLNT+9%, SNAP+18%, ARM+3.6%, HOOD+.13% EPS MRVL+8% story that Softbank had considered buying
Events:USA: Challenger layoffs +175% Y/Y
 Equity: Global indices are mixed with China strong, the USA mildly higher, and Europe lower. MAGS led by NVDA, META, and TSLA. TSLA is in play with a vote on Elon’s $1T pay package after the close. Memory names continue to be strong with MU, WDC, STX algo faves. Softbank majority owned ARM higher post EPS, and MRVL higher on the story that Softbank had considered buying. QCOM lower post EPS as handset focused and not enough AI hype. DDOG > 2x the expected move higher and on watch with a lot of upside calls which can cause a higher squeeze.  Downside names to watch for continuation: DUOL, CELH, GOOS. HOOD is flat post EPS beat and bouncing from initial selling. HOOD is a monkey fave, so watch for how it moves in RTH.  Bitcoin lower despite US$ weaker so continues to raise liquidity caution. SPX 0DTE  positioning has largest position at 6900 but otherwise a choppy set-up with 6800 a good pivot level to watch. Recently, the pattern has been to buy in the morning and sell into the close, so take care today.

SPY 679  Resistance 679 680 683 Support 675 673, QQQ 624.5  Resistance 625 627 629 Support 621 620 617
Daily Expected Move. SPX(6838-6754)  SPY(682-673) QQQ(629-617)  IWM(247-242)

Stocks to watch NVDA, TSLA, DDOG, ARM, MRVL, IBIT, ETHE    Speculative SNAP, OSCR
Indices UNG, KWEB, GDX, SLV, XME, /CL, QTUM, SMH, XLE, NUKZ,   ETHE, IBIT, UUP

S&P500 DDOG, MRNA, SMCI, NVDA, KMX

Other OSCR, XPEV, MRVL, PENN, IONQ, FIG, DKNG, CRWV, DUOL, CELH, TEVA, NVO 

TSLA

TSLA is in play with a vote on Elon’s $1T pay package after the close. Expected move this week is +/-22 and option implied vol 100.9% this week. Large call position at 500 which is a logical upside target or acceleration level. Downside targets 440-420. The high IV and skew makes this week fly or calendars strategies to directionally trade and take advantage of IV skew. May also consider a short iron condor to sell the IV. Not clear how TSLA will react since the stock doesn’t trade on fundamentals but on the hopes, dreams, and hype from Musk.