MOMO CROWD BUYS AHEAD OF NVIDIA EARNINGS AND INFLATION DATA, TREASURY BOND BUYING A BAD IDEA
By Nigam Arora
To gain an edge, this is what you need to know today.
Key Data Ahead
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows that QQQ did not reach the low band of zone 1 (resistance) before pulling back.
- The chart shows that this morning QQQ is rallying. Buying in QQQ this morning is almost exclusively coming from the momo crowd. The momo crowd is repeating its pattern of buying before key events.
- Two key events are ahead:
- PCE, the Fed’s favorite inflation gauge, will be released tomorrow at 8:30am ET.
August 25, 2026