Everyone knows what happened today. What is more important now is how the market reacted.
Market Pulse
SPY closed at $733.00 on 2026-11-05. The close was above the 200-day SMA ($730.15); below the 8-day EMA ($755.71), the 21-day EMA ($762.46), the 50-day SMA ($766.40), and the 100-day SMA ($759.68). That is the first close below the 21 EMA.
QQQ closed at $647.05 on 2026-11-05. The close was below the 8-day EMA ($687.39), the 21-day EMA ($706.81), the 50-day SMA ($722.27), the 100-day SMA ($717.32), and the 200-day SMA ($680.71). That marks 6 consecutive closes below the 21 EMA.
VIX 28.18 (+69.66%)
Opening
Single-name options flow tilts heavily bullish with $189.8M in bullish premium against $61.6M bearish, producing a $128.2M net bull read. Semis dominate the buy side with AMD ($23.5M) and MU ($20.2M) leading, while NVDA ($13.5M) stands as the lone significant bearish outlier. ORCL and PLTR round out a broad-based tech accumulation.
Options Flow Heat Map
