Market Commentary for Thursday, September 18, 2025, by Peter Cook
We are gapping up on news this morning. #NVDA is "investing" in #INTC (that now makes the Federal Government and the largest corporation on the planet trying to save #INTC). What a stupid use of money, but I guess #NVDA is thinking they can try to brand their tech with an #INTC name and try to get around the ban in China or the export controls in the US. We'll see if that works or not.
Chips are up on that, but we are well off the overnight highs due to some morning selling.
We saw the Call Wall move DOWN on SPY yesterday, that tells me we had a lot of people betting that we'd be ripping upward on FOMC day. Instead, we did nothing and burned all that premium. If we see market makers try to take this back under 660 to kill the Calls, it will really sting.
I looked at the moves in the last 2 hours of the session yesterday and it looked like mostly "Sell the News" stuff. Builders down, bonds down, oil and gas operators down. The candle yesterday on IWM is exceptionally bearish out a week or so.
I'll be looking to see in the next few days if we continue to verify that first knee-jerk reaction Post-FOMC or not. Tomorrow is the key, as we get a reset of the Call Heavy options markets. Then comes the move at the end of the month with the JP Morgan Collar.
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
This email went out to Members at 0935 ET on Sept 18th.
