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Blue Line Futures Research

$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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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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