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Wednesday, October 21, 2026  |  Pre-Market  |  4:00 AM ET snapshot
SPY and QQQ are sitting just above their pivots this morning, while NVDA is just below its own. That puts the market at a decision point, and the open will tell us whether the rebound has real follow-through.
Ticker Spot Pivot Bias
SPY $770.70 $770 Above pivot
QQQ $722.70 $722 Above pivot
NVDA $220.70 $221 Below pivot
Session Bias: No Trade before the open, then Need Confirmation. The bull case only applies if SPY, QQQ and NVDA all reclaim and hold their pivots together. Conviction is low.
What’s driving it: Nasdaq futures are +0.74% and Asia bought the rebound, with the 10-year yield easing to 5.113%. Against that, credit is still not confirming the equity rally, UK inflation printed hotter than expected at 3.5%, and the 20-year Treasury auction lands at 1:00 PM ET. Meta, Tesla, Lam Research and IBM report after the close, so the lean depends on tonight’s earnings.
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— Nate
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