Morning Market Notes 07-20-26

Market Calendar

$SPX & $QQQ

Friday's washout is getting faded. QQQ up 0.96% premarket at 702, back above 700 after spending Friday trading under it. SPY up 0.45%, VIX crushed 3.7% back to 18, but still high. All this with the US and Iran trading strikes over the weekend and crude tagging $90 before reversing. Once oil rolled over, the dip buyers showed up, and now the tape is leaning into a stacked week of Big Tech earnings.

The 700 strike on QQQ flipped from Put Wall to Call Wall overnight and price is already trading through it, so dealers are chasing up here. SPX comes in just under the 7500 Call Wall with a 1.19% implied move, that's the magnet at the open. Hold above it and the grind continues, reject and we chop back toward the middle of the range with the Put Wall all the way down at 7300. Macro day is basically empty, just leading indicators at 10. The real catalysts hit when Big Tech starts reporting later this week.

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.