Premarket Volume Scan

Market Narrative

## Premarket Scan for July 9, 2026 The top candidate by volume this morning is AAL, with over 176 million shares traded premarket and a gap down of roughly 4% to $16.52. That volume figure is the key detail. AAL is trading more than the next closest name by nearly 30 million shares, which signals genuine institutional participation rather than retail noise. The premarket range is tight at 1.15%, which is actually useful information. Tight PM ranges with this kind of volume often mean the real move has not happened yet and is waiting for the open. The play here is the HOD/LOD breakout strategy at the open. Let price establish the first 5-minute range, then trade the break of that range with volume confirmation. Given the gap down, the short side through LOD is the higher-probability direction, but do not front-run it. Wait for the level to break and hold. Shares only on this one, which is appropriate given liquidity and the B-tier conviction rating. NVDA comes in second with 148 million shares premarket and a gap up of 3.65% to $204.12. The PM range is 1.27%, similarly tight, which again points to HOD breakout as the preferred approach rather than chasing the gap. NVDA at this price level with shares-only execution means position sizing matters. The volume here is real and reflects broad market interest, but a 3.65% gap on NVDA without a specific catalyst is worth treating with some skepticism at the open. Let it prove direction before committing size. INTC is worth noting despite a nearly flat gap because its premarket range of 5.42% is the widest among directional names today. Wide PM range means price discovery is still messy. VWAP reclaim or rejection is the cleaner framework for INTC rather than a breakout play. DRAM also shows a wide range at 6.22% on reasonable volume, and the same logic applies. On the macro side, there are no high-impact scheduled events today, which removes one layer of uncertainty but also reduces the chance of a clean trend day. Without a macro catalyst driving sustained order flow, opening gaps are more likely to fade or chop rather than run cleanly in one direction. That makes discipline on entries critical across all names this morning. The volume leaders with no directional move, EDBL, VTAK, SNDQ, ONFO, and BATL, are likely thin names with activity driven by specific catalysts or low-float dynamics. Approach those with caution and keep size small if trading them at all. The A-list focus today is AAL and NVDA, with INTC as a secondary