November 5th, 2026

NQ is currently trading around 28408.00, sitting below the dealer gamma flip near 29125.00. Below the flip, ranges have tended to run wider and moves can travel further, so expect a lively session. Yesterday's range was huge, with a high at 28969.00 and a low at 27615.75, and those are the outer markers today. Closer in, the healthy bid zone Rips is watching on air sits between 28304.00 and 28318.25, the busiest price of the week. How buyers treat that shelf should shape the open. Rips trades NQ live at 8AM ET, so tune in to see how he plays it.

ES is currently trading around 7736.25, just a hair above the dealer gamma flip near 7733.00. Above the flip, ranges have tended to be calmer and moves more likely to fade, but with price this close the read can change quickly. Yesterday's session topped out at 7746.25 and bottomed at 7490.00, so the high is the nearby reference while the low marks how far the selling reached. The healthy bid zone Rips is watching on air sits between 7721.75 and 7725.75, where yesterday's close and VWAP line up. Catch the live show for the full market read as the open unfolds.

SPY is currently trading around 768.25, holding above yesterday's close at 766.81 after a strong session that ran as high as 775.64. That gives buyers a clear first job. If they defend the prior close on any early dip, price may work back toward the 775.64 high, which is the next real reference on the chart. A clean push through that level and a hold above it would put SPY back at the top of its recent range and keep the broad market tone constructive heading into the afternoon.

If price slips back under 766.81 and cannot recover it, the gap gets erased and the next area to watch is yesterday's low at 762.64. A break below there would undo most of the prior day's bounce. A return above the prior close would weaken that downside view. Note that SPY is firmer than QQQ this morning, a sign the strength is broader than just the biggest tech names.

QQQ is currently trading around 687.75, a little below yesterday's close of 691.95 and right at yesterday's low of 687.87. That is a less comfortable spot than SPY. For an upside scenario, buyers first need to reclaim 691.95. If they can retake that close and hold it, price may revisit yesterday's high at 701.45, though that is a fair distance and would need help from the heavyweights, especially NVDA.

If QQQ stays below yesterday's low and cannot climb back over it, the session could lean heavy, since there is no fresh support from recent trading nearby. That makes how price behaves around 687.87 in the first half hour important. A recovery back above 691.95 would weaken the downside case. The split this morning is clear: Apple, Microsoft, Amazon and Alphabet are higher, while Nvidia and Tesla are lower, and that tug of war is holding the index back.

AAPL is currently trading around 353.00, building on yesterday's big rally that closed at 349.51. The stock sits just under yesterday's high of 354.50, so that is the level in focus right away. If buyers push through 354.50 and hold above it, Apple would be trading at fresh highs for this move and could keep pressing as momentum traders lean in. A stall at that level, though, would not be unusual after such a sharp day.

On the downside, the first area to watch is the prior close at 349.51. If price falls back below it and cannot recover, the premarket gain is gone and the next reference is yesterday's low at 340.99, a much bigger step down. A return above 349.51 would weaken that scenario. Apple is one of the leaders this morning, and its weight in the index makes it a name to watch for overall Nasdaq tone.

MSFT is currently trading around 558.25, adding a little to yesterday's sharp gain that closed at 555.80. The stock is pressing right up against yesterday's high of 559.15. If buyers break through that level and hold it, Microsoft would extend its rebound and keep its leadership role among the largest names. Watch whether the first push above holds or quickly gets sold, since that will show how much fresh demand is left after such a big move.

If price slips back under 555.80 and stays there, the premarket gain unwinds and the stock could drift back through yesterday's range. The next real reference below is the 542.30 low from yesterday, a wide gap with little in between. Reclaiming the prior close would weaken that downside path. Microsoft, Apple and Amazon all posted big moves yesterday, so follow through or fading in this group will say a lot about the market's mood today.

AMZN is currently trading around 270.00, extending yesterday's strong gain that closed at 266.03. The nearby ceiling is yesterday's high at 271.49. If buyers can push through that level and hold above it, Amazon would be breaking out of yesterday's range and could carry its momentum further into the session. Since the stock is already close to that high, a quick test of it early is likely to be the first tell of the day.

If price fades back below 266.03 and fails to reclaim it, the premarket gain is erased and the next area to watch is yesterday's low near 263.85. Losing that would put the stock back on the defensive after a big up day. A move back over the prior close would weaken the downside case. Amazon is among the strongest of the group premarket, alongside Apple, Microsoft and Alphabet.

NVDA is currently trading around 198.00, below both yesterday's close at 200.13 and yesterday's low at 199.68. That makes Nvidia one of the weak spots this morning. For any recovery, buyers need to reclaim the 199.68 to 200.13 area first. If they can retake it and hold, price may work back toward yesterday's high at 206.79, but that is a meaningful distance and the stock has been sliding steadily over the past week.

If NVDA cannot get back above 199.68, the slide could continue, since price is trading below everything seen in the last several sessions and there is no nearby chart support to lean on. A recovery over 200.13 would weaken that downside view. Nvidia has fallen from closes above 215.00 just over a week ago, and its weight in QQQ and NQ means its direction will matter a lot for the Nasdaq today.

GOOGL is currently trading around 293.75, building on yesterday's gain that closed at 288.93. The nearby target is yesterday's high at 296.49. If buyers defend the premarket gain and push through 296.49, Alphabet could extend its run and stay among the morning leaders. The stock has some room before that high, so watch how it handles the first test if price gets there.

If price slips back below 288.93 and cannot recover, the gain is gone and the next reference is yesterday's low at 283.40, a sizable step lower. A return above the prior close would weaken that downside scenario. Alphabet is moving with Apple, Microsoft and Amazon this morning, which contrasts with weakness in Nvidia and Tesla. Whether that leadership group holds up will help decide whether the broader Nasdaq can catch up with the S&P 500.

META is currently trading around 637.75, up from yesterday's close at 630.00. The first upside reference is yesterday's high at 643.09. If buyers hold the premarket gain and push through that level, Meta could keep climbing with the rest of the strong group. A failure there would suggest the gap is getting faded, so the reaction near 643.09 is worth watching closely.

If price slips back under 630.00 and cannot recover, the premarket move is undone and the next area to watch is yesterday's low at 624.50. A break below there would put Meta back on the defensive. Reclaiming the prior close would weaken that downside path. Meta is up premarket but by less than Apple, Amazon and Alphabet, so it sits in the middle of the pack rather than leading.

TSLA is currently trading around 378.25, below yesterday's close at 385.19 and sitting just above yesterday's low of 375.50. That puts the stock in a delicate spot. If buyers defend the 375.50 area, price may try to work back toward the prior close. A reclaim and hold above 385.19 would bring yesterday's high at 392.04 into view as the next upside reference.

If TSLA breaks below 375.50 and cannot recover, the selling could pick up speed, since that would mean trading below yesterday's entire range. A return above 385.19 would weaken the downside case. Tesla is one of only two big names lower this morning, alongside Nvidia, so it is not getting the same lift the rest of the group is enjoying.

Today's main scheduled data is Initial Jobless Claims at 8:30AM ET, released with preliminary third quarter productivity and unit labor costs at the same time. Claims give a weekly read on layoffs, while productivity and labor costs speak to wage pressure and inflation. A big surprise in either direction can move rates and stock futures quickly right before the open.

The premarket picture is split. SPY and ES are firmer while QQQ and NQ are lower, because Nvidia and Tesla are pulling back even as Apple, Microsoft, Amazon, Alphabet and Meta trade higher. That means the Nasdaq is leaning on a few heavyweights moving in opposite directions, so watch whether the leaders hold their gains and whether Nvidia can stabilize.

After yesterday's large ranges, watch participation in the first hour, whether volume confirms the gaps, and whether buyers keep recovered levels on pullbacks. Good luck, trade safely, and have a great Thursday!

You can catch Rips every Monday through Friday at 8AM ET streaming live for FREE on YouTube at https://www.youtube.com/@RipsTrades and on Kick at https://kick.com/rips where he breaks down the markets in real time and helps traders level up.