Morning Market Notes 11-09-26

Market Calendar

$SPX & $QQQ

Green across the board premarket, and it's the small caps and the Dow doing the heavy lifting. IWM up 1.50%, DIA up 1.27%, SPY and QQQ both up 0.94%, and VIX getting crushed 9.98% to 23.08. QQQ is at 662, back over the 660 key and off Friday's 656 close with 670 res overhead. SPX is sitting around 7445, right on the 7450 key with the 7400 key under it and 7500 weak res above.

Tech is lagging the bounce because Nvidia is down over 5% premarket after its board opened an investigation tied to reports around Jensen Huang, and that's leaning on the AI names again after last week's beating. The rest of the tape is catching a bid with oil down almost 3% and WTI back under $90, while the 10-year sits around 4.86%. The money is rotating into the Dow and small caps, so we'll see if the Nasdaq can keep pace once the cash open hits. CPI and PPI are on deck this week, so don't expect a free ride.

Macro day is light: Wholesale Trade and Goolsbee at 10, then Barkin at 12:15.

Let's have a sesh.

Same charts. The fear got replaced by calm.

Most of what wrecks a trade happens between your ears: the second-guessing, the panic exit, the revenge entry after a red one. MikeTrades put the same levels you just read next to real-time flow, and the flow started answering the questions his nerves used to. His words: "The stress and fear have been replaced by calm and confidence." You already have the levels. The flow is what lets you trade them without the knot in your stomach.