Pre-Market Update: SNDK, SPCX, Plus Earnings & News To Watch

Good Thursday Morning, MPTraders!  August 6, 2026-- Pre-Market Update:

-- Strong, but not strong enough Earnings reported last evening in SNDK -11%, WDC -15%, and APP -19% have put the kibosh on the Tech Sector (QQQ -7%) this AM... 

SNDK's negative acutely negative reaction to Earnings inflicted damage to the otherwise promising setup ahead of the news. The fact that SNDK pressed and sustained beneath 1250/70 near-term support has morphed the post-7/29/26 rally pattern into a more complex counter-trend configuration. My preferred scenario now looks for SNDK to hold support in the 1120-1160 area, followed by another recovery rally effort that revisits consequential resistance from 1350 to 1475 that confronts the early-August high-zone. Only a break and close below 1120 invalidates my anticipated near-term price path... Last is 1201.00...

-- SpaceX share unlock today. How will the stock perform?  Will it break the August corrective low-zone of 104.83 to 107.09, or rip higher, taking out consequential nearest resistance at 115.00-117.60? (See my attached Hourly Chart below)... Continued below SPCX chart...

-- Earnings tonight: DKNG, ABNB, AOI, RGTI, TTD, RCAT, MP... A good cross-section of American business...

-- The world awaits a deal on the Strait of Hormuz and a new MOU between the US and Iran that halts the war...

-- Tomorrow morning before the open, we get the July Jobs Report, which is the next significant macro catalyst that could drive market direction in a post-geopolitical conflict time period...

ES, SPY, QQQ next...