Market Pulse
SPY prints 771.10, up 0.66%, and locks in a 5th straight close above the 21 EMA. Price sits clean above the 8 EMA at 767.56 and the full stack is aligned. The 50 SMA at 753.35 and 200 SMA at 706.96 both trend up beneath price. This is a controlled uptrend with no cracks in the structure.
QQQ leads with a 1.37% gain to 721.11. This is only the 1st close back above the 21 EMA, so the reclaim is fresh. Price cleared the 8 EMA at 715.14 and the compressed 21/50 SMA band around 712 to 713. Follow through above that cluster confirms the turn.
VIX 14.51 (-4.60%)
Opening
Opening directional flow ran heavily long at $301.0M bullish against $87.8M bearish, a net $213.2M bull tilt. NVDA led at $33.8M with MU, EWY, HONA, and META stacking behind it. Bearish premium was thin and scattered across software names.
