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📈 The breakout follows the breakdown: after yesterday's initially negative reaction to the Fed meeting, Wall Street is rallying Thursday. Relief today comes mainly from oil and Treasury yields, both Brent and WTI falling, 10-year yields dipping just under 5%.
📈 The breakout follows the breakdown: after yesterday's initially negative reaction to the Fed meeting, Wall Street is rallying Thursday. Relief today comes mainly from oil and Treasury yields, both Brent and WTI falling, 10-year yields dipping just under 5%.
📈 US500 hit the 7500 put wall exactly, then bounced right back up like clockwork, now trading at 7646 (+1.28%), strong pre-market rally.
🎯 Next levels above: 7660, then 7750. Choppy, range-bound market conditions right now.
📈 US500 hit the 7500 put wall exactly, then bounced right back up like clockwork, now trading at 7646 (+1.28%), strong pre-market rally.
🎯 Next levels above: 7660, then 7750. Choppy, range-bound market conditions right now.
🏦 The Fed raised rates by 25bp to 3.75-4.00%, the first hike since 2023, in a unanimous 12-0 vote, surprising given recent dissent chatter. Chair Warsh cited persistently high inflation, a strong economy/labor market, and Middle East tensions as the reasons.
🏦 The Fed raised rates by 25bp to 3.75-4.00%, the first hike since 2023, in a unanimous 12-0 vote, surprising given recent dissent chatter. Chair Warsh cited persistently high inflation, a strong economy/labor market, and Middle East tensions as the reasons.
The Fed raised interest rates by 25bps to 3.75–4.00%, exactly as expected.
But the bigger message came from the communication: inflation remains too high and has not shown enough improvement. Price stability clearly remains the Fed’s priority.
The Fed raised interest rates by 25bps to 3.75–4.00%, exactly as expected.
But the bigger message came from the communication: inflation remains too high and has not shown enough improvement. Price stability clearly remains the Fed’s priority.
Rates were raised as expected. Another hike may follow.
QQQ is now sitting at the final major support: 700.
⚠️ Lose 700 → 660 becomes the next key level.
And Friday is Triple Witching / OpEx — expect volatility. 🔥
#QQQ #US100 #Nasdaq #Trading
Rates were raised as expected. Another hike may follow.
QQQ is now sitting at the final major support: 700.
⚠️ Lose 700 → 660 becomes the next key level.
And Friday is Triple Witching / OpEx — expect volatility. 🔥
#QQQ #US100 #Nasdaq #Trading
I didn't buy the first touch of support. I waited for the bounce to confirm, then entered on the pullback.
🎯 Entry 62.98, the 0.5 fib of the up move. That fib level sits on the support line, so two levels back the same spot.
I didn't buy the first touch of support. I waited for the bounce to confirm, then entered on the pullback.
🎯 Entry 62.98, the 0.5 fib of the up move. That fib level sits on the support line, so two levels back the same spot.
🔍 CQQQ (Invesco China Technology ETF) trading at $46.15 (-0.35%), one of the largest dark pool transactions ever recorded hit yesterday, right at a key level (~$45 support zone, marked #2/#3 on the chart, roughly $140M in size).
🔍 CQQQ (Invesco China Technology ETF) trading at $46.15 (-0.35%), one of the largest dark pool transactions ever recorded hit yesterday, right at a key level (~$45 support zone, marked #2/#3 on the chart, roughly $140M in size).
🚨 THE MARKET IS LOOKING FRAGILE
🏦 Fed: 92.5% hike odds
📈 US 10Y: >5%
🛢️ Oil: Brent ~$107
🏠 Mortgage rates: 7.1–7.2%
📉 Breadth: only ~40% above 50DMA
The Fed hike is largely priced in.
The real risk is the message.
🚨 THE MARKET IS LOOKING FRAGILE
🏦 Fed: 92.5% hike odds
📈 US 10Y: >5%
🛢️ Oil: Brent ~$107
🏠 Mortgage rates: 7.1–7.2%
📉 Breadth: only ~40% above 50DMA
The Fed hike is largely priced in.
The real risk is the message.
📈 MSCI World Commodity Producers index (red line) has surged to 8,113.76, a fresh multi-year high, well above its long-term downtrend line.
📈 MSCI World Commodity Producers index (red line) has surged to 8,113.76, a fresh multi-year high, well above its long-term downtrend line.
🏦 Fed rate hike odds now at 92.5% for the decision in the next 48 hours. The FOMC statement (2:30pm ET) is seen as the key driver this week, a hold at this point could hurt Fed credibility. Heavy options expiration this week raises the stakes further.
🏦 Fed rate hike odds now at 92.5% for the decision in the next 48 hours. The FOMC statement (2:30pm ET) is seen as the key driver this week, a hold at this point could hurt Fed credibility. Heavy options expiration this week raises the stakes further.
🚨 Musk, Amodei, and Altman jointly warned over the weekend about AI development risks and potential superintelligence, weighing on markets, Nasdaq 100 futures indicated ~1% weaker for Monday's open at time of the original commentary.
🚨 Musk, Amodei, and Altman jointly warned over the weekend about AI development risks and potential superintelligence, weighing on markets, Nasdaq 100 futures indicated ~1% weaker for Monday's open at time of the original commentary.
🛢️ Expensive oil and doubts about the AI capex boom are weighing on Wall Street. Nasdaq futures down ~1.6%, Brent near $108.
🛢️ Expensive oil and doubts about the AI capex boom are weighing on Wall Street. Nasdaq futures down ~1.6%, Brent near $108.
📉 QQQ trading at 703.24 pre-market (-1.5%), pulling back close to Put Support (700), hit hardest this morning following the AI industry warnings from Anthropic and others (see earlier macro post).
📉 QQQ trading at 703.24 pre-market (-1.5%), pulling back close to Put Support (700), hit hardest this morning following the AI industry warnings from Anthropic and others (see earlier macro post).
📉 US500 trading at 7606.71 (-0.63%), showing short-term weakness after rejecting the Call Resistance zone (7749-7800).
🎯 Key options levels this week: 7500-7800 range. Support below at Put Support 7600 and 7500.
📉 US500 trading at 7606.71 (-0.63%), showing short-term weakness after rejecting the Call Resistance zone (7749-7800).
🎯 Key options levels this week: 7500-7800 range. Support below at Put Support 7600 and 7500.
📄 Anthropic's Dario Amodei published a ~3,800-word essay Saturday ("We Must Pace the Frontier"), arguing the industry should slow the pace of model capability improvements, with Anthropic committing to permanent independent oversight.
📄 Anthropic's Dario Amodei published a ~3,800-word essay Saturday ("We Must Pace the Frontier"), arguing the industry should slow the pace of model capability improvements, with Anthropic committing to permanent independent oversight.
🎙️ AI founder warnings & strategic moves: Elon Musk, Sam Altman, and Dario Amodei have nearly simultaneously warned that AI could become dangerous.
🎙️ AI founder warnings & strategic moves: Elon Musk, Sam Altman, and Dario Amodei have nearly simultaneously warned that AI could become dangerous.
🚨 Core concern: while the AI-driven stock market keeps hitting new highs, credit markets are flashing warnings. Big tech (Alphabet, Meta, Microsoft, Amazon, Oracle) has directly raised ~$500B for AI spending.
🚨 Core concern: while the AI-driven stock market keeps hitting new highs, credit markets are flashing warnings. Big tech (Alphabet, Meta, Microsoft, Amazon, Oracle) has directly raised ~$500B for AI spending.
🏦 Hotter core CPI locks in a Fed rate hike next week, with the probability of a second hike in December now surging past 80%. While US headline inflation for August landed in line with expectations, the underlying trend is concerning.
🏦 Hotter core CPI locks in a Fed rate hike next week, with the probability of a second hike in December now surging past 80%. While US headline inflation for August landed in line with expectations, the underlying trend is concerning.
🍎 Food index up 0.1% MoM, 2.7% YoY. Energy index jumped 2.1% MoM and is now up 16.3% YoY, with gasoline prices climbing 3.9% for the month.
🍎 Food index up 0.1% MoM, 2.7% YoY. Energy index jumped 2.1% MoM and is now up 16.3% YoY, with gasoline prices climbing 3.9% for the month.
🎯 Key level: if 7600 breaks, price action likely falls back into the range, with a retest of 7500 probable.
🎯 Key level: if 7600 breaks, price action likely falls back into the range, with a retest of 7500 probable.