.

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, Copper,  Palladium, Oil, natgas, AGGS,  Bitcoin

·         Yields: 30Y Bond –0.11%  Currencies:  USA$-0.01% CAD -0.03% YEN -0.14%  BTC/USD+1.66%  Vix:17.85

·         Events USA: ADP 815ET; Trump threatening Canada with 50% tariffs with Smoot-Hartley 1930 law
Stock News  NVS+4.4% MMM+5.4% GM+.6% DHR-9.5% HAL-3.3% MSCI-7.5% SCHW-3%     Earnings
Comments Global indices bounce with USA indices led by the usual cohort of memory has Korean market bounced. Media is using a meeting between Iran and mediators as optimism for a ceasefire to the ceasefire, but meanwhile USA is building up aircraft tankers and continuing to attack. Oil and 10Y yields are not lower so markets are not reacting to the memes. Trump is threatening to apply 50% tariffs on Canada using the infamous Smoot-Hartley tariff act, could lead to softness in Canadian stocks unless he has lost credibility. Metals bouncing with Asian traders lifting metals with silver leading and miners following. COT report indicates minimal long positioning in silver, platinum and palladium. The AI/Semi names are bouncing and the large software are being sold so dispersion is continuing. Monday large semi bounces were sold so keep a lookout. MAGS led by NVDA (shocking) and GOOGL while MSFT and AAPL lag. Earnings: DHR and MSCI have moved lower more than expected and MMM higher and are candidates for continuation or reversion. SPX 0DTE resistance 7490/7500 and support 7480-7400.  USA ADP  815ET may be market moving but it’s the GOOGL report Wed that is critical with the USA stock market and GDP reliant on the insatiable spending on AI data centers for the rest of time. SoH remains on the slow boil until oil shortages hit harder or USA runs out of missiles so expect tweets to move markets.

Stock NVDA TSLA MU MRVL  DHR MSFT MSCI   Speculative   NBIS BE
Indices DRAM SLV SMH GDX AIPO IBIT XLK ETHE USO XME GLD  IGV XLV TLT KWEB

S&P500 SNDK WDC MU MRVL INTC GLW AMD COIN SMCI AVGO  DHR ADBE CRM NOW MSFT PLTR
Other UMC NBIS MXL AXTI BE NVTS CRCL AAOI AG NOK TSM APLD CDE WULF BABA FIG USAR

IBIT

Bitcoin now above 65k with 5 days of inflows. IBIT above 20ema with 9ema crossing above so potential bounce situation. Volume resistance at 39. Large call positions at 37.5, 40 which can act as resistance or acceleration levels. Bitcoin has been a dog and I dont have a fundamental reason for it moving higher so this is a flow/technical idea that may be fleeting and likely will not overcome higher oil prices.The miner names likely have more juice in either direction.