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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  set-up

·       Commodities: Gold, Silver, Copper, Platinum, Palladium, Oil, natgas, AGGS, Bitcoin

·       Yields: 30Y Bond +0.24%, Currencies: USA$ -0.04%, CAD +0.06%, YEN +0.32%, BTC/USD+0.75%, Vix:17.01

·       Events: USA: PPI 830ET; SCOTUS tariff statement expected

·       Stock News: BAC-1.5% WFC-1.7%   earnings; 

·        Equity: USA indices lower premarket ahead of PPI data and potential SCOTUS tariff announcement. BAC and WFC moving in opposite directions post earnings with BAC CEO making positive statement regarding the consumer. Commodities continue to lead with metals joined by oil with potential for USA to take military action against Iran a catalyst. Market is expecting SCOTUS to rule tariffs illegal, which has been a driver for retail names but one should look for Trump response, which may be a new set of tariffs using different legal argument. MAGS are led by NFLX with majority lower led by AVGO and resulting with QQQ the weakest index. IWM continues to outperform and RSP outperforming the SPY. Bitcoin is advancing and now at a pivot level with potential for breakout over 95k. BABA is higher than the expected move ahead of investor day Thurs.  HON is higher on plans to IPO its quantum computing unit and has been strong with outperformance by industrials and robotics in particular. PANW, FTNT lower on report that China has ordered companies to not use USA/Israeli security products and will impact the sector. SPX 6925 is the level to watch premarket for support/resistance. Positioning in SPX looks supportive down to 6800, which in theory suggests BTD will continue to work with caveat that most is 0DTE.

Daily Expected Move. SPX(7006-6921), SPY(698-689), QQQ(631-621),  IWM(264-259)

Stocks to watch NFLX, BABA, SLV, IBIT, WFC, BAC, PANW, MAGS Speculative HL, CLSK, RKLB
Indices SLV, ETHE, GDX, /CL, GLD, IBIT, XME, XLE, EFA, TLT, UNG, XLK, MAGS, SMH, QQQ, XLY

S&P500 INTC, NFLX, WFC, SNDK, AVGO, AMD
Other HL, CLSK, AG, EXK, BABA, INFY, BMNR, MSTR, RIOT, TRIP, RIVN, PDD, RDW, RKLB, BP, SMR, JOBY, EOSE

IBIT

IBIT has been consolidating in a range since mid-Nov. Large option positions at 54 and 55 with potential to squeeze above 55.  Potential for breakout above the range with the caveat that it may pullback into the range.  IV is low in bitcoin and skew towards puts makes upside calls a potential strategy for a breakout with defined risk.