Morning Market Notes 05-12-25
Market Calendar

$SPX & $QQQ


In our weekly calendar notes, we mentioned bullish news hitting the tape and the likely gap up at Futures open.
Well, no surprises there.
Now that we’re above our upside PT from last week, I’m personally going to start looking at long-dated positions to capture a return to the bear market level—or anything we can catch in between.
Let’s have a sesh.
Using 0DTHERO flow to trigger Futures trades
Let’s walk through the trade I took this morning, triggered entirely by 0DTHERO flow signals. Right from the open, $SPX flow wanted nothing to do with upside — diverging from $ES price action. That’s what we call slope divergence between flow and price. On $SPY, the setup looked a

