Midday market 05/30: Mixed market after debt ceiling agreement "Fiscal Responsibility Act"

Uneven liquidity as the “AI mania” group continues to squeeze, leaving the pullback market behind

Market opened the first trading session of the week in fairly comfortable sentiment after the holiday break with money flow continuing to pour into the tech block and AI-related stocks. QQQ call wall remains at 350 while SPY call wall moves up to 425, showing investors starting to exhibit signs of changing bias on sector directions as the tech block delves deep into overbought territory. Pullback occurred across the market right from the opening when QQQ gapped up over 1.5% with both SPY and QQQ pushed close to the important gamma level at 420 and 350 before the market stabilized and most stocks found support at low-of-day.