Morning Market Notes 10-26-26

Market Calendar

$SPX & $QQQ

Green start to a monster week. SPY up 0.25% premarket, which puts SPX around 7640, sitting just under the 7650 key level with 7700 weak res overhead and 7600 weak sup below. QQQ up 0.48% and back over 707 after the S&P and Nasdaq both logged a second straight losing week. DIA up 0.32%, IWM barely green. VIX easing to 19.29.

Oil is the relief valve this morning. Brent slipped back under $110 and WTI is sitting near $101 after Qatari mediators headed to Tehran to try to cool things down, and that's coming off a 6% weekly gain in Brent. The 10-year is still pressing 4.99%, so rates aren't letting anyone get comfortable. Brazil is getting smoked after Lula won the runoff, with Brazilian ADRs down 20 to 40% premarket, but it's not bleeding into US indices. We'll see if QQQ can hold this bid with the AI financing worries still hanging over the cloud names.

Macro day is light: Chicago Fed activity index at 8:30, Dallas Fed manufacturing at 10:30, 2-year auction at 1. The real week starts Wednesday with the Fed decision, a pause expected after September's hike, plus Alphabet and Microsoft earnings. Amazon reports later in the week and PCE drops Thursday.

Let's have a sesh.

100-point trades were rare. Then he saw the flow.

For kvuk, a 100-point trade was the one that happened once in a while, never the one he could plan for. Then he put the same levels you just read next to real-time flow and started watching it while he was in the trade, not just before he took it. His words: "Having the ability to see flow while I'm in a trade has elevated my trading beyond words." You already have the levels. The flow is what keeps you in for the whole 100.