savage-notes Morning Market Notes 09-15-26 Market Calendar $SPX & $QQQ Overnight dip got bought, then the open sold it right back. ES was down half a percent at 4am on the AI hangover and oil, walked back to flat into 8:30, and the cash open has SPX at 7604, down 0.20%, sitting on
savage-notes Morning Market Notes 09-14-26 Market Calendar $SPX & $QQQ Friday's bounce lasted one session. QQQ is off 1.78% premarket and already trading under the 710 key with the 700 Put Wall in sight. SPY down 0.81% and back below its 760 Put Wall, DIA off 0.55%, IWM off 0.
savage-notes Morning Market Notes 09-11-26 Market Calendar $SPX & $QQQ Bounce day after four straight red closes. SPY up 0.70% premarket, QQQ up 0.81%, DIA and IWM both up about 0.75%, and VIX getting crushed 6% to 16.7. CPI just printed: headline 0.4% and 3.4% year over year, both
savage-notes Morning Market Notes 09-10-26 Market Calendar $SPX & $QQQ Tech getting hit again premarket. QQQ down 1.12% and leading lower, SPY off 0.43%, DIA and IWM down 0.24% and 0.53%. VIX bid up almost 6% to 17.4, and SPX carries a 1.03% implied move into a PPI open.
savage-notes Morning Market Notes 09-09-26 Market Calendar $SPX & $QQQ Red across the board premarket after the Dow dropped 600 points yesterday. SPY off 0.35%, QQQ down 0.54% and leading lower, DIA and IWM both off 0.6%. VIX bid again, up 4% to 16.4, and SPX opens with a full 1%
savage-notes Morning Market Notes 09-08-26 Market Calendar $SPX & $QQQ Quiet tape after the long weekend. SPY off 0.13% premarket, QQQ up 0.23% and sitting right on its 720 Call Wall, DIA the laggard at down 0.61%. VIX bid up 6% to 15.4 with the index barely moving. Somebody is paying
savage-notes Morning Market Notes 09-04-26 Market Calendar $SPX & $QQQ NFP just blew the number out: 162K jobs versus 53K expected, unemployment steady at 4.1%, wages up 0.3% on the month, and June and July revised up a combined 55K. Futures barely blinked. SPY 771.86 down 0.17% premarket, QQQ up 0.
savage-notes Morning Market Notes 09-03-26 Market Calendar $SPX & $QQQ Bulls finally got a green close yesterday, snapping the three-day slide, and the overnight is trying to hold it. SPY 766.66 up 0.20% premarket, QQQ flat at 709.59, VIX down to 15.1 from 16 handles two days ago. The Iran
savage-notes Morning Market Notes 09-02-26 Market Calendar $SPX & $QQQ Third day of the Hormuz tape and the selling is finally tired. SPY flat premarket at 762 after the Dow bled 400 points yesterday, QQQ off 0.18%, VIX easing back to 16.2. ADP just printed 38K, the weakest since January, and futures barely
savage-notes Morning Market Notes 09-01-26 Market Calendar $SPX & $QQQ September opens the same way August closed, risk-off. QQQ down 1.18% premarket and SPY off 0.62%, already trading under the 765 Put Wall. VIX bid up 7% to 16. Second straight day the protection bid shows up before the cash open. It&
savage-notes Morning Market Notes 08-31-26 Market Calendar $SPX & $QQQ Month-end opens risk-off. The US and Iran traded strikes over the weekend for the first time since July, oil ripped 3%, and the protection bid is back: VIX up 6.6% to 15.38 premarket. SPY off 0.37%, QQQ down 0.32%
savage-notes Morning Market Notes 08-28-26 Market Calendar $SPX & $QQQ Quiet tape into a loud morning. SPY is flat at 771, QQQ off 0.17% after yesterday's chip-fueled rip, and VIX is asleep at 14.5. Nobody is paying up for protection ahead of the biggest Fed speech of the year. That&
savage-notes Morning Market Notes 08-27-26 Market Calendar $SPX & $QQQ The AI trade got its green light last night. QQQ up 0.87% premarket and already trading through the 715 Call Wall. SPY up 0.29%. VIX down to 15 with vol sellers stepping right back in. Yesterday's nervous tape is gone. This
savage-notes Morning Market Notes 08-26-26 Market Calendar $SPX & $QQQ Quiet premarket tape with a nervous undertone. QQQ down 0.36% and back under its 710 key level, SPY off 0.12% and parked right on the 765 Put Wall. VIX bid up to 15.7. Nobody is adding risk this morning, and for good
savage-notes Morning Market Notes 08-25-26 Market Calendar $SPX & $QQQ Green across the board this morning. QQQ up 0.78% premarket at 711 and back on top of its 710 Call Wall, SPY up 0.37% and sitting above its own wall at 765. VIX flat at 15.8 and showing zero interest in yesterday&
savage-notes Morning Market Notes 08-24-26 Market Calendar $SPX & $QQQ Red to start the week. QQQ down 0.57% premarket and sliding under 710, SPY off small at 764 and already trading just below its 765 Put Wall. VIX up 5% and knocking on 16. Protection is getting bought before the bell. Blame Washington for
savage-notes Morning Market Notes 08-21-26 Market Calendar $SPX & $QQQ Green across the board premarket. QQQ up 0.74% and already trading through the 715 Call Wall. SPY up half a percent at 766, sitting on top of its own 765 Call Wall. VIX down 3.5% and back in the mid-15s. The vol
savage-notes Morning Market Notes 08-20-26 Market Calendar $SPX & $QQQ The bond rally lasted exactly one day. Yields snapped right back this morning, the 10-year up over 5 basis points to 4.70 and the 30-year back near 5.25, and equities handed the entire Wednesday bounce back with them. SPY off 0.
savage-notes Morning Market Notes 08-19-26 Market Calendar $SPX & $QQQ Treasury moved the tape at 8:31. They are doubling the size of long-end buyback operations, from a $2 billion max per op to at least $4 billion, starting September 9. The long end caught a bid instantly, the 10 year dropped from 4.
savage-notes Morning Market Notes 08-18-26 Market Calendar $SPX & $QQQ Tech is the one taking it this morning. QQQ down 1.30% and already pressing the 720 Put Wall, SPY off 0.47% and back under 770. DIA is barely down 0.14% and IWM off 0.37%, so the damage is concentrated in one
savage-notes Morning Market Notes 08-17-26 Market Calendar $SPX & $QQQ Quiet tape, loud vol. SPY is dead flat at 776 and QQQ is up 0.19%, but DIA is off 0.34% and IWM is down 0.35%. VIX is the tell, bid up 5.68% to 15. When the indexes go nowhere and protection
savage-notes Morning Market Notes 08-14-26 Market Calendar $SPX & $QQQ Retail sales just came in ugly, down 0.6% against a +0.1% consensus, and the tape shrugged. SPY flat at 778 premarket, QQQ up 0.22%, VIX sub-15 and drifting lower. A consumer miss that gets bought tells you this market only cares
savage-notes Morning Market Notes 08-13-26 Market Calendar $SPX & $QQQ PPI morning and the tape barely blinked. SPY up 0.18% premarket, QQQ dead flat, VIX drifting lower at 14.5. The bid is showing up in the Dow and small caps instead, both up around 0.3%. That's rotation, not risk-off.
savage-notes Morning Market Notes 08-12-26 Market Calendar $SPX & $QQQ CPI morning and the print came in friendly. QQQ up 0.81% premarket, SPY up 0.32%, VIX bleeding back to 15.2. Tech is leading before the cash open. The catalyst is July CPI. Headline came in at 0.1% on the month with
savage-notes Morning Market Notes 08-10-26 Market Calendar $SPX & $QQQ Flat tape to start a loud week. SPY off 0.08% premarket, QQQ down 0.13%, IWM lagging at -0.30%. VIX up 3.5% to 15.4 while the indices do nothing. Protection is getting bought before the open, and that tells you where
