Daily Flow Deep Dive — July 7, 2026
Market Pulse
SPY closed at 747.71, down 0.48%, but held above the 21 EMA for the 6th straight close. Price sits above the 8 EMA at 744.70 and the full stack remains bullish with the 50 SMA at 737.57 and 200 SMA at 689.71. This is still an uptrend structure despite the red day. Bulls stay in control as long as 742 holds.
QQQ took the harder hit, down 1.85% to 709.43. That is the first close below the 21 EMA at 719.41 and price also lost the 8 EMA. The 50 SMA at 711.06 is now the line to watch. Tech is showing relative weakness against SPY here.
VIX 16.13 (+3.60%)
Opening
Net premium came in bullish by $271.0M with $423.8M bullish against $152.8M bearish. Semiconductors dominated the tape with MU at $57.5M leading and MRVL, SOXX, and SMH all featured. Bearish flow was scattered and small by comparison.
