Stock Chartistry Pre-Market Live Report

Monday, August 10, 2026 • 8:30 AM ET

GENERAL MARKET READ

The pre-market posture is bullish but rotational. Nasdaq, semiconductors, and technology are leading, yet the strongest weekly structures extend well beyond mega-cap growth into gold miners, copper, silver, biotech, and software. The caution is breadth: Dow and Russell futures are slightly negative, while crude is rising and can become a rates/inflation headwind if the move accelerates. The tape favors buying confirmed leadership rather than treating every green print as equal.

WATCH LIVE

Join the Pre-Market Live: key levels, catalysts, and setups before the opening bell. https://www.youtube.com/live/6TnXe2f7dHk

PRE-MARKET POSTURE

Bullish / selective risk-on. QQQ, SMH and XLK are leading, VIX futures are lower, and SPY remains fully aligned across the supplied higher timeframes. The less constructive piece is breadth, with IWM and DIA slightly red pre-market. Metals/miners are showing the cleanest non-tech weekly leadership, while energy and crypto contain more rebound-like structures.

EXECUTIVE MARKET SUMMARY

The dominant setup is a market at record territory with leadership rotating rather than disappearing. Growth remains intact, but GDX +21.31% weekly, FCX +11.16%, SLV +9.82%, IGV +8.57%, XBI +7.05%, SMH +7.80% and XLK +7.20% show that the opportunity set is broader than the index headline. Monday’s risk is chasing extended weekly winners ahead of Wednesday CPI. The highest-quality trades are likely to come from names where pre-market strength and weekly structure agree.

TOP 5 HEADLINES

ADDITIONAL MARKET INTELLIGENCE

Rotation thesis vs. current tape: the supplied research notes emphasize software, biotech and hard-asset leadership, but today’s live dashboard does not support a simple “hardware is dead” narrative. SMH is +1.08% pre-market and +7.80% weekly, NVDA is +11.56% weekly, and XLK is +7.20% weekly. The more accurate framing is leadership broadening into additional pockets rather than a wholesale abandonment of semiconductors.

Extension risk: multiple high-volume and gap-up names are already +20% to +50% on the week. Momentum is real, but entry quality matters more as weekly extension increases.

MACRO BACKDROP & EVENT RISK

The macro setup is dominated by softer labor data, Wednesday CPI, Treasury supply, and the unresolved Hormuz situation. Crude is +1.07% in futures and USO +2.58% pre-market, so energy inflation risk is active even though the weekly energy structure remains weak. Falling VIX is supportive, but the dollar is slightly higher and TLT is slightly lower, leaving a mixed rates confirmation.

EVENTS CALENDAR

EARNINGS RESULTS & UPCOMING CATALYSTS

After the Close — Reported Friday

RDNT: Q2 revenue $622.7M (+25.0% YoY), adjusted EBITDA $99.7M (+22.7%), adjusted EPS $0.29, Digital Health revenue $32.4M (+56.5%), ARR $105.5M. 2026 Imaging Center revenue guidance was raised to $2.370B–$2.420B, adjusted EBITDA to $345M–$358M, and free cash flow to $115M–$125M. The tape is confirming the report with +1.60% pre-market and +13.49% weekly.

HE: Core EPS $0.13 missed the supplied $0.21 estimate, while revenue $939.7M exceeded the supplied $745.92M expectation. GAAP earnings were distorted by a $153.9M pre-tax non-cash Maui-settlement remeasurement benefit. The stock is flat pre-market and -4.02% weekly, so the market is not treating the accounting headline as a clean fundamental inflection.

BH: Revenue $108.5M vs. $100.6M a year ago; net earnings $39.9M, with Steak n Shake same-store sales +11.9%. Investment gains materially influenced consolidated earnings, and the company does not provide quarterly or annual forward guidance.

Before the Open — Current Setup

Week ahead: The supplied earnings calendar highlights RKLB, ASTS, PLUG and QUBT after Monday’s close; SE, SMCI, CRWV and others Tuesday; NBIS, CSCO and COHR Wednesday; MELI and AMAT Thursday; and OTLK plus other smaller names Friday. RKLB’s Q2 call is scheduled for 5:00 PM ET Monday according to company-referenced reporting.

ANALYST UPGRADES & DOWNGRADES

Upgrades

• ALL — Allstate: Freedom Broker upgraded Hold → Buy; target $297. Source
• AIP — Arteris: Jefferies upgraded Hold → Buy. Source
• EBAY — eBay: Argus Research upgraded Hold → Buy. Source
• HALO — Halozyme: Leerink Partners upgraded the stock. Source
• PWR — Quanta Services: KeyBanc upgraded Sector Weight → Overweight. Source

Downgrades

• ALL: Wells Fargo downgraded Equal-Weight → Underweight. Source
• CELH: Maxim Buy → Hold; Bernstein Outperform → Market Perform. Source
• FOXA: Seaport Global Buy → Neutral. Source
• GPS: Wells Fargo Overweight → Equal-Weight. Source
• JBLU: Citigroup Neutral → Sell. Source
• PG: Argus Research Buy → Hold. Source
• ROKU: Seaport Global Buy → Neutral. Source
• TTD: Citigroup Neutral → Sell; Evercore ISI Outperform → In-Line; Truist Buy → Hold; Raymond James Market Perform → Underperform. Source

MARKET DASHBOARD

Market Snapshot

Trading Read: Futures are constructive but not uniform: Nasdaq leads while Dow and Russell lag, so the opening posture is bullish with a growth tilt rather than broad index acceleration. Crude is the strongest futures contract at +1.07% and is also positive on the week, making energy inflation sensitivity an active cross-asset variable. Gold and Bitcoin are modestly positive, while the major equity futures remain above flat except for Dow and Russell. The session favors selective risk-on participation rather than assuming every index will confirm.

Bonds & DXY

Trading Read: Volatility is easing, with /VX down 0.54%, which is supportive for equities, while the dollar and long bond are only modestly firmer. TLT is down 0.16% despite a positive weekly reading, so the rates backdrop is not providing a clean duration tailwind. The mixed bond complex argues against treating lower-rate expectations as a one-way trade. Falling volatility remains the strongest supportive signal in this block.

Major ETFs

Trading Read: QQQ is the clear pre-market leader and is also up 5.09% on the week, while SPY is positive and fully aligned across the supplied higher timeframes. IWM and DIA are slightly negative pre-market despite positive weekly performance, showing that breadth is not keeping pace with large-cap growth. This is leadership concentration, not broad deterioration, because the weekly trends remain positive. A stronger open would be more convincing if IWM and DIA begin to participate.

S&P Sectors

Trading Read: Semiconductors and technology are leading the sector board, with SMH +1.08% pre-market and +7.80% weekly and XLK +0.55% pre-market and +7.20% weekly. Energy is bouncing pre-market but remains down 3.44% on the week, so it still reads as recovery rather than established leadership. Materials retain strong weekly structure even though they are flat pre-market. The sector mix favors growth leadership with selective commodity participation rather than a fully defensive rotation.

Extended Sectors

Trading Read: The strongest structural leadership is in hard assets and selected growth themes: GDX is +21.31% weekly, FCX +11.16%, SLV +9.82%, IGV +8.57%, and XBI +7.05%. USO and MARA are strong pre-market but remain sharply negative on the week, so those moves are better treated as rebounds inside weaker weekly structures. The divergence between metals/miners and oil/crypto is important because it shows that ‘commodity strength’ is not one unified trade. This is the clearest evidence of a rotation beneath the headline indexes.

Jumbotron

Trading Read: Mega-cap participation is mixed but still constructive: TSLA, AMD, GOOGL, NVDA, and META are green pre-market, while MSFT and LLY lag. NVDA and META retain strong weekly gains, which supports the AI/growth complex, while MSFT’s -0.30% pre-market move looks like digestion against a +7.59% week rather than immediate structural damage. The board is not uniformly risk-on, but leadership remains concentrated in high-beta technology. Watch whether laggards stabilize after the open.

Mag 7

Trading Read: The large-cap growth complex remains strong overall, but the group is not moving as one block. NVDA, META, and TSLA are positive pre-market with strong weekly gains, while MSFT is pulling back despite a +7.59% week. That relationship is more consistent with profit-taking than with a breakdown in mega-cap leadership. Continued QQQ strength with a contained VIX would keep the group supportive for the broader tape.

Pre-Market High Volume

Trading Read: High-volume activity is dominated by high-beta technology, AI, space, optical, and speculative-growth names, with several weekly moves above +20%. TTD stands out on the downside at -23.50% weekly, while PLTR, AAOI, AXTI, RKLB, RDW, SOUN, and ONDS remain extremely extended on a weekly basis. This is strong momentum, but extension risk is material and opening-chase discipline matters. The tape favors selective continuation only where early support holds.

Pre-Market Gap Up

Trading Read: Gap-up breadth is heavily concentrated in optical/AI infrastructure, space, compute, biotech, and energy-transition names. Multiple names are already up more than +20% on the week, including AAOI, AXTI, COHR, RKLB, NVTS, LUNR, MP, and WOLF, so the group has momentum but also meaningful extension risk. CLSK is the major divergence because it is gapping higher while still down 10.61% weekly. The best quality gaps are the ones that hold opening ranges rather than immediately filling.

Pre-Market Gap Down

Trading Read: There is no qualifying gap-down list in the supplied dashboard, so downside breadth is not being driven by a broad pre-market gap-down cohort. That absence supports the constructive index posture, but it should not be mistaken for universal strength because several high-volume names are still red. The more relevant weakness is selective rather than systemic. Watch whether a gap-down list develops after additional pre-market prints.

LEADERSHIP & ROTATION ANALYSIS

The live tape supports a barbell of growth leadership and hard-asset leadership. QQQ/SMH/XLK remain strong, while GDX/FCX/SLV are among the strongest weekly groups. Oil and MARA are different: both are bouncing pre-market against sharply weaker weekly structures. That distinction is the core rotation read for today.

LEADERSHIP PRE-MARKET KEY LEVELS

SPY MAX PAIN & OPTIONS WALLS

TRADE SETUPS & OPPORTUNITY WATCH

• QQQ / SMH: strongest index/sector continuation pair if opening support holds.
• GDX / FCX / SLV: strongest hard-asset weekly alignment; avoid chasing vertical opens.
• SPY: 775 is the immediate options test; acceptance above it would be more important than a brief print through it.
• USO / XLE: pre-market bounce is notable, but weekly weakness means the energy move still needs confirmation.
• CLSK / MARA: countertrend rebound structures; weekly damage remains a headwind.

LAND MINES TO WATCH

• 775 SPY call wall: unusually large weekly call OI can create a major near-term positioning battle.
• CPI Wednesday: the largest scheduled macro catalyst of the week.
• Oil/Hormuz: a renewed crude spike can reverse the favorable duration narrative quickly.
• Extension: multiple gap-up names are already +20% to +50% weekly.
• Breadth: IWM and DIA are not confirming QQQ pre-market leadership.

SESSION PLAYBOOK

1. Use QQQ/SMH behavior to judge whether growth leadership is continuing.
2. Use IWM/DIA as breadth confirmation; improvement there upgrades the rally quality.
3. Treat 775 on SPY as a positioning level, not just another round number.
4. In extended winners, require opening-range support before adding risk.
5. Monitor crude and TLT together for an inflation/rates shift that could pressure growth.

BOTTOM LINE

The market is bullish, but the most useful story is the rotation underneath it. Technology remains leadership—not a broken trade—while metals, miners, software, biotech, and selected speculative-growth names are adding additional opportunity pockets. The immediate tactical issue is the massive weekly 775 SPY call wall near 90,000 OI, sitting almost directly over the current SPY price. A sustained move through that wall with breadth confirmation would materially strengthen the bull case; repeated rejection would argue for a more tactical, range-aware session.

FULL DETAILS — KEY NOTES & SESSION INTELLIGENCE

Market Pulse Snapshot

Bias: Bullish / rotational
Driver: QQQ +0.46% pre-market, SPY +0.16%, /VX -0.54%, SMH +1.08%; hard-asset weekly leaders remain strong.
Key Level: SPY 775 options wall / 773.71–774.89 pre-market chop zone.
Read: Above 775 with breadth confirmation favors continuation; rejection keeps the market vulnerable to intraday chop despite strong weekly structure.

Markets

SPY
Bias: Bullish
Driver: 774.49; +0.16% pre-market; +3.51% weekly; higher-timeframe alignment
Key Level: 775 options wall
Read: Acceptance above 775 improves continuation odds; failure keeps the index pinned near the dominant wall.

/CL
Bias: Slightly Bullish
Driver: 79.02; +1.07% pre-market; +2.52% weekly
Key Level: 79.43 PMH
Read: A break of the pre-market high strengthens the inflation-risk impulse; failure keeps the move contained.

ETFs

QQQ
Bias: Bullish
Driver: 726.35; +0.46% pre-market; +5.09% weekly
Key Level: 724.18–726.66 chop zone
Read: Holding the zone keeps growth leadership intact; loss of the lower edge would weaken the cleanest index setup.

GDX
Bias: Bullish
Driver: 90.26; +0.41% pre-market; +21.31% weekly
Key Level: Current weekly extension
Read: Strong structural leadership, but the size of the weekly move raises chase risk.

XBI
Bias: Bullish
Driver: 157.37; flat pre-market; +7.05% weekly
Key Level: Current weekly trend
Read: A quiet pre-market does not negate the weekly breakout structure; watch for participation after the open.

Movers

PLTR
Bias: Bullish but extended
Driver: 170.00; -1.17% pre-market; +39.78% weekly
Key Level: 170 area
Read: Pre-market weakness against a massive weekly gain reads as digestion unless support fails decisively.

TTD
Bias: Bearish
Driver: 13.75; -0.36% pre-market; -23.50% weekly
Key Level: 13.75 current reference
Read: Weak weekly structure remains the defining signal; rebounds should be treated cautiously.

Setups

FCX
Bias: Bullish
Driver: 70.22; +0.86% pre-market; +11.16% weekly
Key Level: 70 area
Read: Strong pre-market and weekly alignment make this one of the cleaner rotation names if opening support holds.

SLV
Bias: Bullish
Driver: 58.03; +0.92% pre-market; +9.82% weekly
Key Level: 58 area
Read: Momentum is aligned across current and weekly performance; avoid chasing if the open gaps too far above support.

SnapBack High / Bull Flag

Trading Read: The broader market is bullish, which is a tailwind for the SnapBack High group, but the daily pivots show several names already trading well above their supplied pivot stacks, so extension risk is as important as momentum. TWLO at 241.88 is above R2 238.5 and R1 229, SHOP at 151.57 is above R3 136 / R2 137.5 / R1 124.5, ABNB at 177.35 is above R3 135 / R2 147.5 / R1 147, and CRSR at 14.35 is above R2 13 and R1 10; those structures favor continuation only if price can hold above the highest reclaimed pivots rather than immediately slipping back into the prior range. CRON is the least extended of the group because price near 3.10 is sitting just above a tightly clustered R1/R2/R3 around 3.00, making 3.00 the clearest near-term decision area, while ABNB’s -0.40% pre-market move against +17.52% weekly strength reads more like digestion unless its reclaimed pivot zone begins to fail. Overall, the group has strong weekly momentum—especially SHOP +29.38%, CRSR +35.25%, TWLO +22.26%, and ABNB +17.52%—but the best setups are the ones that defend the highest reclaimed pivots on the first pullback instead of chasing extension.

SnapBack Low / Bear Flag

Trading Read: The broader market is bullish, which works against automatic bearish continuation in the SnapBack Low group, but both names remain deeply negative on the week and the supplied pivot stacks show very different structures. PTON at 5.68 is sitting between S1 5.50 and the 6.00–7.00 resistance cluster, so 5.50 is the first line of defense for a rebound while a reclaim of 6.00–6.50 would begin to weaken the bear-flag setup; failure back through 5.50 would put S2 5.00 back in play. PZZA is structurally weaker: price at 24.47 is already well below the S1/S2/S3 cluster near 30.50–31.00 and far below the R1/R2/R3 area at 38.00–40.00, which means any bounce remains countertrend until it can first reclaim the low-30s pivot zone. With PTON -11.11% weekly and PZZA -18.16% weekly, bearish alignment is stronger here than in the SnapBack High group, but the market-wide bullish backdrop still argues for confirmation at the pivot levels before treating either setup as a clean continuation short.

EDUCATIONAL DISCLAIMER

Educational content only. Not financial advice. Trade at your own risk.

SOURCES

Market Data & Technical Analysis
thinkorswim — Customized market dashboards by Stock Chartistry
thinkorswim — Customized technical charts and indicators by Stock Chartistry
Maximum-Pain.com — SPY daily and weekly open-interest screenshots supplied by Stock Chartistry

Research & Market Intelligence
Reuters — U.S. payrolls / rates context
Reuters — Iran / Hormuz
Investing.com — Analyst ratings
Wall Street Journal — Upgrades / downgrades
FX Evolution
Arete Trading
Trade Brigade