savage-notes Morning Market Notes 05-28-25 Market Calendar $SPX & $QQQ The $SPX broke above the 5900 level, and that might cause issues for selling into the weekend if we now turn this level into support. That said, two events today could flip the script again: FOMC Minutes at 2, and $NVDA earnings after hours. And
savage-notes Morning Market Notes 05-27-25 Market Calendar $SPX & $QQQ We're implied to gap up around 40 points on $SPX at the opening bell, as the tariff news over the weekend brought us up here. Busy week ahead — check the market calendar notes from this weekend. We've got the highly anticipated
savage-notes Morning Market Notes 05-22-25 Market Calendar $SPX & $QQQ We mentioned we wanted to see a test of 5900 yesterday — and we got it. Now, what we want to see is 5900 turning into resistance so we can get a shot at the gaps below. This could be a very interesting session, as sentiment
savage-notes Morning Market Notes 05-21-25 Market Calendar $SPX & $QQQ On Monday, we got our first sell signal of the week with $QQQ. The Qs have a sell signal It’s the first index ETF to give us one this week Wen $SPY and $DIA — wallstsavage (@wallstsavage80) May 20, 2025 Yesterday, the other index ETFs
savage-notes Morning Market Notes 05-16-25 Market Calendar $SPX & $QQQ On Wednesday, we wrote: $SPX 5900 is the big man on campus for levels, so this should be a sticky area into OPEX—even if we drift into 6000, the second-largest node at this time. We’re calling the top here, at least in the
savage-notes Morning Market Notes 05-15-25 Market Calendar $SPX & $QQQ Data today said nothing, and Powell even less. The only surprise we might get is some important news out of Turkey, where the Russian war negotiations could bring some action to the market. Outside of that, 5900 should stay sticky—just like it’s been.
savage-notes Morning Market Notes 05-14-25 Market Calendar $SPX & $QQQ $SPX 5900 is the big man on campus for levels, so this should be a sticky area into OPEX—even if we drift into 6000, the second-largest node at this time. We’re calling the top here, at least in the short term. The 5900–
savage-notes Morning Market Notes 05-13-25 Market Calendar $SPX & $QQQ CPI inline. Nothing to see here. We’ve got OPEX on Friday, and it’s loaded on calls—as you can see from the gamma charts for $SPX, $SPY, and $QQQ below. So chances are we keep this a range to slow upside drift until
savage-notes Morning Market Notes 05-12-25 Market Calendar $SPX & $QQQ In our weekly calendar notes, we mentioned bullish news hitting the tape and the likely gap up at Futures open. Well, no surprises there. Now that we’re above our upside PT from last week, I’m personally going to start looking at long-dated positions
savage-notes Morning Market Notes 05-09-25 Market Calendar $SPX & $QQQ The markets keep uptrending toward our price target, and unless a major negative catalyst pulls us back, we’ll get there sooner rather than later. I personally like a retest of 5700 $SPX today—and possibly a break and close above. Let’s get to
savage-notes Morning Market Notes 05-07-25 Market Calendar $SPX & $QQQ It’s FOMC day. We’re all eager to see what Jerome Powell and the crew will do with interest rates—likely a cut, but by how much? And what kind of narrative will we hear from Powell? Trump has already lowered his guard and
savage-notes Morning Market Notes 05-06-25 Market Calendar $SPX & $QQQ Gaps everywhere as we hear from PTJ—the GOAT himself—that he agrees with our downside target (bear market level): MARKET WILL GO TO NEW LOWS UNTIL TARIFFS, RATES CHANGE: JONES PAUL TUDOR JONES EXPECTS TRUMP TO CUT CHINA TARIFFS BY 50% — *Walter Bloomberg (@DeItaone)
savage-notes Morning Market Notes 05-05-25 Market Calendar $SPX & $QQQ The S&P 500 Futures is down 0.75% pre-market on (checks notes)… nothing. We noted this weekend that there’s still some room to the upside, so I wouldn’t be surprised if we buy this move down all the way into our
savage-notes Morning Market Notes 05-02-25 Market Calendar $SPX & $QQQ The markets received a strong jobs number from NFP with a 50+ point pump. Gonna keep this short and sweet: unc2.0. Let’s have a sesh. 🔗 Try it free here.
savage-notes Morning Market Notes 05-01-25 Market Calendar $SPX & $QQQ The unc2.0 didn’t fail yesterday—once again—after the awful Q1 GDP print (-0.3%), but it needed a push from the EOM flows to make it happen right before the closing bell. Nevertheless, it’s been a while since the good old
savage-notes Morning Market Notes 04-30-25 Market Calendar $SPX & $QQQ On Monday and yesterday’s notes, we wrote that the Liberation gap was likely this week—and that’s exactly what we got in the last intraday session. We also mentioned our longer-term view on a Bear Market level retest hasn’t changed, and today
savage-notes Morning Market Notes 04-29-25 Market Calendar $SPX & $QQQ We stick to the thesis that we’ll see the Liberation Day gap this week, but we also aren’t changing our longer-term view that we’ll see the Bear Market level again. Tariffs chatter today, JOLTS and Consumer Confidence coming soon at 10:00
savage-notes Morning Market Notes 04-28-25 Market Calendar $SPX & $QQQ Last week, we thrived on volatility — or price violence, as I like to call it. Our reading on the market was spot on when I mentioned on Tuesday that we were back to high-range days, and a swing posted in Team Bull captured a massive
savage-notes Morning Market Notes 04-25-25 Market Calendar $SPX & $QQQ The spread guy is back, messing with our levels—this time going for strikes close to the implied bottom and top. Let’s see what Wall St. does to him and his crew today. Besides that, $GOOGL had solid earnings to report for Q1, which
savage-notes Morning Market Notes 04-24-25 Market Calendar $SPX & $QQQ It’s $GOOGL day and we’re here for it. Great time to see how big tech is going to perform in 2025. We expect some key guidance numbers so we can gauge how these giants plan to move amid recession fears and market uncertainty.
savage-notes Morning Market Notes 04-23-25 Market Calendar $SPX & $QQQ How on point was our morning notes post yesterday? We wrote about the return of large-range, high-volatility moves this week and testing strangles in this environment — and that’s exactly what we got. It was just a matter of Trump getting a little dovish on
savage-notes Morning Market Notes 04-22-25 Market Calendar $SPX & $QQQ After mentioning our short-term view (weeks to maybe a month) that the markets will make a new yearly low, the Nasdaq 100 bottomed intraday on Monday with a -3.5% decline, paring losses a bit into the close. We’re not changing that short-term view,
savage-notes Morning Market Notes 04-21-25 Market Calendar $SPX & $QQQ After the OPEX, the big boi level on $SPX is now 5,000. We’ve got support all the way down to 4,500, which is impressive. It seems like the new norm for the markets is ±1% pre-market moves — and here we are again,
savage-notes Morning Market Notes 04-17-25 Market Calendar $SPX & $QQQ Yesterday we noted that a break below 5300 $SPX could accelerate a selloff intraday—and that’s exactly what we got. The short-lived relief rally this week was quickly cut off by tariff news, notably impacting $NVDA and similar names. The signals behind that upside
savage-notes Morning Market Notes 04-16-25 Market Calendar $SPX & $QQQ Yesterday, we mentioned that 5500 was the most loaded level on the board, but that just changed with the recent options positioning and the overnight tariffs chatter. The 5400 $SPX now holds the largest gamma exposure, and we closed below it yesterday—another key level
