Morning Market Notes 11-02-26

Market Calendar

$SPX & $QQQ

Bounce attempt after Friday's beating. QQQ up 0.90% premarket at 696, back over the 690 key but still under 700 res. SPY up 0.53%, which puts SPX around 7620, back above the 7600 key with 7650 weak res right overhead. Dow up 0.62%, IWM up 0.74%, VIX easing to 19.04. Buyers are testing the water, nobody's backing up the truck yet.

Friday was the worst session since June, S&P down 1.8% and the Nasdaq 100 off 3.5% after INTC got cut by 28% and the AI capex bill spooked everyone, capping a 5.2% October drawdown for the Nasdaq. This morning's relief is coming from oil. Brent is down about 4% to around $109 and WTI slipped back under $100 as Qatar and Iran keep talking and Trump pledged no more strikes before the vote. 10Y sitting at 4.93%. Loaded week: midterms tomorrow, AAPL and PLTR after the bell tonight, jobs report Friday. We'll see if this bid holds or gets sold at 7650.

Macro: S&P Manufacturing PMI at 9:45, then ISM Manufacturing and Construction Spending at 10.

Let's have a sesh.

The edge is also knowing when to sit on your hands.

Most traders don't lose on the setup, they lose on everything they take around it: the chop entries, the boredom trades, the forced fills. UmaA put the same levels you just read next to real-time flow and got the part nobody sells you: "Not only does this tool indicate when to enter, it also indicates when to sit on your hands." You already have the levels. The flow tells you which ones to leave alone.