$QQQ & $SPY Fill The Trading Gap before $SNOW & $NVDA Earnings | Midday Market Minute | 5.25.22

Posted: May 25, 2022, 4:14 p.m.

$NVDA announced earnings after the bell (down about 10%), beat the top and bottom line earnings, yet revised earnings going forward for Q2. $SNOW missed, and traded down 15%.

The S&P and Nasdaq filled the gap as pointed out on the Morning Express Research. Support in the S&P comes in at 3955, 11,800 for the Nasdaq.

Turning to the Fed, the minutes released spoke about 50 bp raises, as expected. The neutral rate is more of a coin toss, with Neel Kashkari talking about 2.5%, Powell speaking about 3.6%. At the end of the day these minutes are stale.

Crude Oil finished well at $111 after a fairly bearish EIA report. As long as major 3 star support holds....

What does the $4.2 Billion Option 1850 Strike Expiration spell for it's future?

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