Morning Market Notes 10-19-26

Market Calendar

$SPX & $QQQ

Dip buyers showing up after Friday's AI flush. VIX getting crushed.

Friday was ugly. Nasdaq dumped 2.14%, the SOX lost 3.8%, and CoreWeave got hit another 12% with its bonds trading at distressed levels, so the S&P and Nasdaq logged their worst week since late June. This morning the chip names are getting bought back, AVGO and MU up around 3%, NVDA over 1%, CoreWeave bouncing. The 10Y slipped to about 5.08% and Brent is off more than 1% after the US waived some Russia sanctions, which takes a little heat off the inflation trade. Dow futures are red, so money is rotating back into tech for now. We'll see if this bounce holds once the cash open tests that 7700 key.

Macro day is light: NAHB housing index at 10. The real action this week is earnings, with Netflix on deck, and Tesla and Meta on Wednesday.

Let's have a sesh.

The name was PaperHand Tommy. Not anymore.

The name says exactly what Tommy was: the guy who read the levels right, got in, and bailed on the first wick against him. Then he put the same levels you just read next to real-time flow, and the flow started telling him whether the move was still on before his hands could get in the way. His words: "I feel almost robotic with the trades I take with flow. No hesitation. Just action." You already have the read. The flow is what gets you to hold it.