Market Pulse
SPY is flat on the session, sitting above all major moving averages with price, 8 EMA, and 21 EMA all stacked in bullish order. The 21 EMA streak hits 8 consecutive closes today. The spread between price and the 200 SMA is over 57 points, showing how extended this run has become. No technical damage here.
QQQ is pressing 19 consecutive closes above the 21 EMA, though today’s price action has slipped below the 8 EMA for the first time in that stretch. The 8 EMA at 747.70 is now acting as overhead resistance on an intraday basis. Structure remains intact above the 21 EMA at 740.54. Watch that level closely if selling continues.
VIX 15.27 (+0.39%)
Opening
Bullish premium dominates at $283M versus $164.3M bearish, producing a net bull read of $118.7M. META and TSLA lead the buy side with a combined $32.9M. The bearish side is top-heavy with SPCX pulling $29.4M alone, followed by AAPL at $12.8M.
Options Flow Heat Map
