Friday, August 29, 2025

Market Commentary for Friday, August 29, 2025, by Peter Cook


The #NVDA hangover is finally here (no surprise to readers of this little missive).  Retail in Korea #EWY was rough last night, and the tape was not great. #MRVL reported (a retail favorite) and it sucked so stock is down almost 18%.  I had someone tell me they thought #NVDA was going to 200 yesterday - whoops!


#PCE and #Inflation numbers this morning were perfect matches to consensus (magically).  And after months of not matching too...The prior readings were revised up, up, up and that is all you need to know.  The consensus is wrong / behind and the trend of inflation is going up.  It is very simple.  That's not bullish. 

My metrics suggest it's a good day to Day Trade and I'll be pressing longs again.  We have setups appearing right now near support.  They are shaking the trees a little bit this morning. 

Levels:


All the best;

 

 

Peter Cook

#NQ_F Chatroom Chief Moderator

Hamzei Analytics, LLC

 

Sign-up link: https://www.hamzeianalytics.com/HAPDTS_NQ_details.asp 

Posted by Hamzei Analytics, LLC at 10:09 AM

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