Morning Market Notes 07-10-26

Market Calendar

$SPX & $QQQ

Two straight up days and the tape's catching its breath. SPY flat premarket, QQQ off 0.35%, VIX asleep under 16. The story this morning is the year's biggest chip IPO hitting the Nasdaq, priced at a premium into what one fund manager just called the most crowded trade in the world. Semis carried this whole bounce. Today we find out if fresh paper feeds the froth or pulls flow out of it. Iran's still simmering and crude is holding a bid, but the tape keeps shrugging it off.

Bulls punched through 7500 yesterday and SPX closed at 7543. Clear 7550 and dealers have to chase; lose 7500 and there's air underneath. QQQ is sitting right on its 720 Put Wall premarket, that's the line for tech. Macro slate is completely empty, so flow runs the session into the weekend.

Let's have a sesh.

This old Soldier is at $82K and counting

You read the morning analysis. Blu reads the same notes, then he watches the real-time flow confirm the setups and stacks payouts toward a $100K month. That's the difference between reading about the move and being in it.