Morning Market Notes 05-20-26

Market Calendar

$SPX & $QQQ

Risk-on premarket for NVDA day. QQQ leading +0.76%, SPY +0.47%, even small-caps showing up with IWM +0.70%. VIX getting bled out -0.78% to 17.92.

This is the calm before NVDA reports Q126 after hours. Premarket bid is real but lightweight. The 710 Call Wall on QQQ is the magnet if we get a beat; the 700 Put Wall is your line in the sand if Jensen drops the ball.

Let's have a sesh.

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