Market Pulse
SPY is working on its 3rd consecutive close above the 21 EMA after today’s 1.55% push to 773.50. Price is now well clear of the 8 EMA at 762.73 and the 21 EMA at 762.24, with both acting as near-term support. The 50 SMA at 758.30 is in the rearview mirror. Tape is constructive and the trend is building.
QQQ is printing a strong 2.77% session and extending its streak to 3 consecutive closes above the 21 EMA. Price at 741.47 has opened up a wide gap above both the 8 EMA at 719.84 and the 21 EMA at 715.96. The 50 SMA at 710.27 is no longer a conversation. Tech tape is leading the market higher.
VIX 14.87 (+0.41%)
Opening
Bullish premium at $530.3M dwarfs bearish at $137.9M, leaving a net $392.4M in directional bull flow for the session. META anchors the bull side at $116.7M, a dominant single-name print. NVDA is the only meaningful bearish counterweight at $38.1M.
Options Flow Heat Map
