Market Pulse
SPY closed at 767.05, down 0.53%, and marks 6 straight closes above the 21 EMA. Price slipped back to the 8 EMA at 767.44 but holds well above the 21 at 764.68. The 50 SMA at 753.91 and 200 at 707.41 stack cleanly underneath. This is a healthy uptrend cooling off intraday. Bulls stay in control while price holds the 21.
QQQ closed at 716.76, down 0.60%, on its 2nd straight close above the 21 EMA. Price sits just above the 8 at 715.5 and the 21 at 714.06. The 50 SMA at 712.05 is right below, so the near-term structure is tight. The 200 at 654.19 remains far off. This is a weaker hold than SPY but still constructive.
VIX 14.92 (+2.83%)
Opening
Bullish premium led at $218.9M against $90.4M bearish for a net bull read of $128.6M. MU topped the tape at $37.0M with FSLR and SNDK adding to the semi and solar lean. RCL drew the biggest bearish print at $32.3M.
