Market Overview
The SPY is now four consecutive closes above the 21 EMA and the trend is in good shape. Price is sitting at 776.43, well above the 21 EMA at 767.89 and the 8 EMA at 771.83, with the full MA stack intact. VIX at 15.4 keeps the environment calm and supportive of long setups. Today is a mild pullback day after back-to-back strong sessions, but there is nothing broken here even with rates really pressuring global markets. The 8 EMA is the level to watch for near-term support if this softness continues.
Top Setups — 5 Signals
MRVL — BULL · MEGA
Calls Bought · Strike: 300.0 · Exp: Mar27 · 1250 contracts · $5.4M
MRVL is trading at 282.74, extended above both the 8 EMA at 272.29 and the 21 EMA at 257.10, with a clean weekly structure showing higher highs and higher lows. Someone came in with $5.4M in March 300 calls, a sizeable directional bet with plenty of time, suggesting they expect this move to have more room. The 8 EMA near 272 is your nearest dynamic support if the stock pulls in, and XLK leading the tape adds to the bull case here.
AXTI — BULL · MID
Puts Sold · Strike: 60.0 · Exp: Jan27 · 900 contracts · $567K
AXTI is right at 81.27, hugging the 8 EMA and holding well above the 21 EMA at 76.06 after a strong run off the lows. The flow here is a put sale at the 60 strike, a bullish positioning trade collecting premium well below current price. With the weekly trend firmly intact and the stock above all major MAs, this is a name where the flow and chart are telling the same story.
