Morning Market Notes 08-28-26

Market Calendar

$SPX & $QQQ

Quiet tape into a loud morning. SPY is flat at 771, QQQ off 0.17% after yesterday's chip-fueled rip, and VIX is asleep at 14.5. Nobody is paying up for protection ahead of the biggest Fed speech of the year. That's either confidence or complacency, and we find out at 10.

It's all about Warsh today. The new Fed Chair makes his Jackson Hole debut at 10 ET and the market still can't read him after the mixed signals at the last meeting. Inflation is sitting above target, the Fed is split on whether the next move is up or down, and the September decision is 19 days out. Every word will be analyzed. Meanwhile dealers re-racked the board higher overnight, walls migrated up across SPX, SPY, and QQQ after the NVDA-fueled run, so market makers are making room for upside. Expect a pin into 10, then the real move.

Macro undercard is Chicago PMI at 9:45 and UMich final at 10, but both get ignored the second Warsh takes the podium.

Let's have a sesh.

This old Soldier is at $82K and counting

You read the morning analysis. Blu reads the same notes, then he watches the real-time flow confirm the setups and stacks payouts toward a $100K month. That's the difference between reading about the move and being in it.