Morning Market Notes 07-24-26

Market Calendar

$SPX & $QQQ

Yesterday's flush closed ugly. SPX bled 1.21% and the Nasdaq dropped over 2% after oil punched through $100 on the Red Sea tanker attacks and the AI capex sticker shock out of megacap earnings spooked the growth trade. This morning the tape is trying to put in a floor, SPY up small premarket, QQQ flat, and the Dow leading the bounce. VIX is still bid near 19 though. Vol isn't buying the bounce yet.

SPX closed dead on the 7400 key level and that's the line today. Hold it and a grind back toward 7450 is live. Lose it and the 7300 Put Wall becomes the magnet, and with a 1.20% implied move there's room to get there. QQQ is stuck between its 690 Put Wall and the 695 key level. Macro is light: flash PMIs at 9:45, new home sales at 10.

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.