Morning Market Notes 10-28-26

Market Calendar

$SPX & $QQQ

Fed day. SPY up 0.18% premarket, which puts SPX around 7735, back over the 7700 weak sup and sitting just under the 7750 key level, with 7800 weak res and the Call Wall stacked above that. QQQ up 0.29% at 723, holding over its 722.87 gap and pressing the 725 res. Dow futures red, VIX barely moving at 17.42. Tech is carrying the tape again into the decision.

The chip trade is still running. Broadcom's $63 billion financing tied to Anthropic compute ripped the semi names yesterday, Nasdaq closed up 1.2% and SPX tacked on 0.6% to 7722. Overnight SK Hynix printed record numbers and the bid carried into this morning. Oil is the other side of the story, Brent back near $111 and WTI around $101 after an attack on a Saudi refinery, with the 10-year still sitting right around 5%. A hold at 3.75-4% is the consensus, the real question is how hawkish Warsh sounds after last month's hike. We'll see if the Nasdaq leadership holds up into 2pm.

Macro day: Advance Goods Trade Balance plus Wholesale and Retail Inventories at 8:30, then the Fed decision at 2 with Warsh's presser at 2:30. MSFT and GOOGL report after the close, AMZN tomorrow.

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.