Morning Market Notes 05-21-26

Market Calendar

$SPX & $QQQ

Risk-off premarket the morning after NVDA. QQQ leading the slide -0.55%, SPY -0.33%, small-caps soft with IWM -0.52%. VIX catching a bid +1.55% to 17.71.

Nvidia's print is in the books and the tape's still digesting it. QQQ's pinned just under the 710 key; the 715 Call Wall caps the upside.

Odd pre-market considering how things moved in Mag7's flow ahead of the close yesterday, leaning bullish.

Let's have a sesh.

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