EOD update 16 Jul 26

US market had frantic activity throughout the session. Memory faltered right from the start with $SNDK plunging to new local lows of 1479s - over 16% for the day. This reversed in the middle of the day with $SNDK and $MU tied neck to neck for losses at about -8%.
Neos were beaten down as well, however $NBIS performed quite firmly. Post the Trump tweet on Datacenters, $NBIS had a vibe shift in it's price action and staged quite a strong rebound. For friday's $NBIS expiry, we have some amount of gamma at the 220s zone, this could be worth watching for.
Structurally, today was another day of momentum selling off - hyperscalers were very bid while semis had weakness through most sectors. This comes at a period before the hyperscaler earnings. Should the hyperscalers increase the capex cadence, this would send semis flying again.
SPX despite the turmoil is closing green - as the hyperscalers superb performance today drags the index up.
Going into tomorrow's asia open - Korea is expected to land somewhat in a gnarly patch as the Korea markets remain heavily memory positioned.
On using - please feel free to give me feedback about what you want to see included in the terminal. I will be adding MOC imbalances as well
Cheers!