🪗Morning Report - Short Squeeze Continues
Day Trading Update 5/1/26
Welcome to the morning report, where I go over the setup for the day as it relates to day trading. I’ll review levels using options gamma and show you where the support and resistance lie along with some other proprietary metrics like options skew and my very own Day Trading Bar Score that have good track records for forecasting bullish or bearish tendencies for the day.
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Today’s Setup
Markets absolutely demolished short sellers and put buyers yesterday. We did flip the script and have a huge number of Calls resting at 720 on SPY and 675 on QQQ that should act as a magnet today.
The news this morning looks like more weekend cooing about a deal in Iran. Groundhog Day once again. We got through this it seems every weekend.
Software is squeezing again because TEAM 0.00%↑ TEAM reported great numbers. I covered the setup for Subs last night; we are making money.
PLTR 0.00%↑ PLTR is a stock that has been languishing recently and is setting up for a spin higher it appears. The momentum indicator is pinched here and we are pulling a loose looking Volatility Contraction Pattern. That’s one to watch here. Retail loves it and if it starts to “lead” when Software catches a bid, it will attract a lot of capital from the masses.
