Premarket Volume Scan

Market Narrative

## Premarket Scan for July 1, 2026 NVDA leads the volume board heading into the July 1, 2026 open, printing over 165 million shares in premarket trading against a modest 2.63% gap to $200.09. That volume figure is the number that matters here. A tight 1.25% premarket range tells you price has been contained overnight, which sets up a clean HOD breakout entry if buyers step in at the open and push through the upper bound of that range. The shares-only strategy is the right vehicle given the liquidity profile. AAL is close behind with 157 million premarket shares and a slightly wider 1.77% range, also pointing toward a HOD or LOD breakout setup depending on which side gets tested first. T is worth watching on the short side, down 5.13% to $20.70 on 130 million shares, though the 0.72% premarket range is extremely tight, meaning direction will likely get decided in the first 15 minutes of regular trading. For T, wait for confirmation rather than anticipating. INTC stands out as well, up 6.01% to $139.63 on 115 million shares with a 1.81% range, which is workable for a breakout trade but requires patience on entry given the larger gap. QXO and SPCX round out the candidate list with the widest premarket ranges at 3.88% and 3.42% respectively. On days where premarket ranges expand like this, HOD/LOD breakout setups become less reliable because price has already traveled. VWAP reclaim or rejection becomes the more appropriate framework for both. SPCX up 4.06% to $170.86 on 81 million shares has momentum behind it, but entering a wide-range gap runner without a VWAP anchor is how traders get caught chasing. QXO down 3.03% to $17.28 deserves similar caution on the short side. Volume leaders INLF, YHC, BIYA, EDBL, and CELZ show elevated activity without a directional catalyst, which makes them low-priority unless one develops a clear structure at the open. On the macro side, July 1, 2026 brings two events that could shift the tape. ISM Manufacturing PMI is forecast at 53.8 against a prior read of 54.0, a slight expected softening that still sits comfortably in expansion territory. A print that misses notably to the downside could put pressure on cyclicals, which matters directly for NVDA and INTC. Fed Chairman Warsh is also scheduled to