What I’m watching at the open:
$WFC — Best bank reaction so far. I want a VWAP hold after CPI before entering.
$JPM — Major earnings beat, but the stock is not responding strongly. A VWAP failure despite good results would be bearish.
$QQQ / $NVDA — Tech is trying to rebound, but CPI decides whether the move holds. Confirmation only.
$MU / $SMH — Semiconductor pressure remains significant, with bearish options flow. Reclaim-only for longs; failed-bounce setup otherwise.
Energy — Oil continues higher on Iran and Strait of Hormuz risk. Strongest macro momentum, but highly headline-sensitive.
Main idea: this is a three-catalyst session—bank earnings, CPI and oil-driven geopolitical risk. Strong earnings are receiving muted reactions, semiconductor breadth remains damaged, and the inflation report can override every premarket setup. Let the first post-CPI range and VWAP determine direction.
