S&P/SPY/Dow Reset on Oil/Earnings/Dispersion w/ Short Setups
Key Questions
What resistance and support levels are noted for SPX and SPY?
SPX faces 7412 choppy resistance and 7400 while support sits at 7230-7043 amid gamma pins and V-bottom pullback risks.
How is oil influencing the broader market reset?
Oil is up 9% with a $100 bull flag that contributes to the S&P, Dow, and dispersion reset alongside earnings and thin volumes.
What does the momentum meltdown imply for NQ and NVDA setups?
The meltdown features NQ at 1348 Demark, NVDA failing at key levels, SPY/QQQ options cash shorts, and building RSI/MACD divergences despite strong NFP data.
SPX 7398 ATH exhaustion 7412 choppy 7400 res/7230-7043 sup tails pins gamma V-bottom pullback topping Elliott Wave late rally risk Dow 49.7k/7245R/7200S oil +9% $100 bull flag NQ 1348 demar TSLA rally SMT fakeout div VIX<17 OVX NVDA fail SPY/QQQ options cash shorts E-mini NFP strong but RSI/MACD divs fatigue building pockets new highs 200+ high-prob setups 11-15 May thin vols semis liquidity tighten extended market trades.