Morning Market Notes 07-23-26

Market Calendar

$SPX & $QQQ

Tech is getting smoked again premarket. QQQ down 1.27% and trading under the 700 Put Wall, SPY off 0.92% and sitting right on its own Put Wall at 740. VIX bid up almost 14% to 19. Big Tech earnings did the damage overnight. Alphabet beat but raised its capex guide to $205B, and Tesla posted its biggest revenue drop in a decade, so the AI capex fear trade is right back on.

Both index ETFs are opening at or below their Put Walls, and under the wall is where dealer hedging stops absorbing dips and starts chasing them, so respect the early tape. Oil pushing $94 is not helping the vol picture either. Macro day is light: jobless claims at 8:30 and that's it, this one trades on the earnings tape. Watch flow and volume.

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.