Morning Market Notes 05-06-26

Market Calendar

$SPX & $QQQ

Risk-on premarket again after AMD ER beat. QQQ up 1.17% and already pushing through the 685 Call Wall toward the 690 key. SPY up 0.76%. VIX smoked -4.43% down to 16.61.

Tech is doing the heavy lifting as usual with semis catching a fresh bid as vol gets dumped. With QQQ already above the 685 Call Wall and pressing 690 premarket, watch how it handles that level into the cash open — squeeze through and the whole tape gets a tailwind, reject and we'll see profit-takers fade back into the Call Wall.

Let's have a sesh.

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