Daily Flow Deep Dive — July 28, 2026
Market Pulse
SPY closes green but stays below the 21 EMA for a 4th straight session. Price sits under the 8 EMA, 21 EMA, and 50 SMA, all clustered between 742 and 744. That overhead stack is now resistance. The 200 SMA down at 696 gives plenty of room below.
QQQ down 0.97% and printing its 10th straight close below the 21 EMA. This is a clear downtrend with the moving averages stacked bearish: price under the 8, 21, and 50. The gap from 675 to the 21 EMA at 703 is wide. Weakest of the two indexes by a mile.
VIX 18.21 (-2.46%)
Opening
Net premium leans bull at $498.9M with bullish flow outrunning bearish nearly 4 to 1. Semis dominate the tape with MU at $67.9M, INTC at $56.4M, and AMD at $31.0M leading the bullish side. Bearish premium stays small and scattered, topped by FSLR at $6.5M.
