Morning Market Notes 06-02-26

Market Calendar

$SPX & $QQQ

Quiet red premarket on the surface, but underneath the tape is anything but calm. The index barely moves while the options landscape starts to say otherwise. SPX wants to let go, but the cushion from positive dealer flow has been mopping up every dip for weeks now.

We're pinned between 7570 and 7650 into 10am JOLTS. Hold 7600 and the bid keeps grinding up toward 7640. Lose 7550 and there's real downside opening up, but the actual short trigger is a break of 7490, until then dealers are still long enough to absorb every dip. Hammack at 8:55, JOLTS at 10, ISM tomorrow, NFP Friday. Busy week, today's just the warm-up.

Let's have a sesh.

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