Market Pulse
SPY closed at 769.06, extending the streak to 14 straight closes above the 21 EMA. Price is sitting just under the 8 EMA at 770.18 after a modest gain. The 21 EMA at 763.09 sits well above the 50 SMA at 750.17, and both ride above the 200 at 704.11. Stacked and orderly. Bulls own this tape until the 21 breaks.
QQQ ticked down 0.20% to 716.08 but held its 13-close run above the 21 EMA. Price slipped below the 8 EMA at 720.78, the first sign of near-term hesitation. The 21 at 714.60 and 50 at 712.86 are compressed right underneath, so watch that zone closely. A close below 714.60 ends the streak.
VIX 14.89 (-6.00%)
Opening
Bullish premium dominated at $301.7M versus $106.4M bearish, a net BULL lean of $195.2M. SNDK led at $23.7M followed by MU at $16.9M. Bearish flow was scattered and light, topped by MRNA at $5.5M.
