November 11, 2026

Morning Insight

Premarket:

S&P futures 7,614. Nasdaq futures 28,386. Dow futures 52,404. VIX 18.47. WTI 87.39. The bond market is closed today for Veterans Day, so there is no live 10-year print. Yesterday’s 10-year last printed 4.98% after the hot CPI, near the 5.00% area.

Yesterday’s CPI came in hot: 0.4% headline and 0.3% core, each a tenth above the 0.3% and 0.2% consensus, per the BLS, CNBC and Reuters. The first reaction was a selloff. This morning that dip is getting bought. Futures are higher, with Nasdaq leading the broader tape and techs in front.

CoreWeave’s report is the spark in AI infrastructure. Revenue was 3.66 billion versus about 3.55 billion expected, the adjusted loss was narrower than feared, and 2026 revenue guidance was raised to 13.0 to 13.3 billion, per company IR and CNBC. The neocloud pocket is the firmest group we can see before the open: CRWV is indicated at 56.14 after Tuesday’s 48.73 close, and NBIS is indicated at 152.63 after Tuesday’s 134.00 close.

QQQ is indicated at 687.59, back through the 200-day near 681 after Tuesday’s 674.76 close. We believe 701 is the next level that matters, the area of last week’s 701.45 high. We also believe the pain trade is still higher, and few understand what is setting up from here.

WTI is at 87.39, already above Tuesday’s official high of 86.93. Next catalysts: NBIS before the open tomorrow, AMAT, CSCO and CBRS after the close, then Friday’s PPI under Kevin Warsh’s Fed.

Top Movers (premarket, our watchlist):

– TQQQ at 59.76, approaching but still under the 60.57 target (session high so far 59.96 as of 7:54 AM ET)
– NETG at 18.12 (thin print, 7:07 AM ET)
– VIR at 13.29 (thin print, 7:11 AM ET)
– QQQ at 687.59
– CRWV at 56.14, NBIS at 152.63, CBRS at 98.40

On the Calendar:

– Today: Veterans Day. Bond market closed. Stocks open.
– Thu: NBIS before the open. AMAT, CSCO and CBRS after the close.
– Fri: October PPI at 8:30 AM ET.

Portfolio:

– NETG (11/10; Leverage Shares 2X Long NET Daily ETF, a 2x daily Cloudflare product): 16.80 / T 19.33 / S 15.00. Pre 18.12. New add, tracking Cloudflare’s post-earnings run. Cloudflare closed Tuesday at 305.80 and is indicated near 315.00.
– VIR (11/9): 13.72 / T 15.09 / S 12.80. Pre 13.29.
– TQQQ (11/5): 52.75 / T 60.57 / S 49.45. Pre 59.76. This is still under the 60.57 exit/target as of 7:54 AM ET. The premarket high so far is 59.96, close but not through it. Watch that level into the open.

Be ready. 701 is the next line on QQQ.