Market Commentary for Wednesday, August 20, 2025, by Peter Cook
We have big time risk-off materializing this morning in the Market. We are hitting major support levels and breaking through them to run stops briefly it seems here. We might rally soon.
Vix was very underpriced (spot vs 3 month futures were all out of whack) - not surprised to see Vix expiration this morning finally serve as our catalyst to trap a lot of people in very, very crowded positions. We are in an environment finally that resembles the April crash.
This was badly needed. We have a lot more work to do on the Semis too like AVGO, etc.
It's a nice spot here to try some longs as are don't usually stay under Put Walls for long. QQQ is almost at the big blue line at 558 (Monthly Implied lows). Often nice rallies materialize here.
Levels:
All the best;
Peter Cook
#NQ_F Chatroom Chief Moderator
Hamzei Analytics, LLC
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