Market Review Video - 8/2/25

Following Thursday's gap fades, Friday greeted us with a 1.2% gap down in the QQQ's as tariff headlines once again dominated the "financial news". Nonfarm Payrolls printed significantly lower than expectations re-igniting hopes of a September rate cut as the 10 Yr Yield fell by more than 3%.

Not long into the morning session the same group of relative strength names we've been following for months began to show why they continue to deserve the "leadership" moniker: semi's, AI power names, data center infrastructure names, etc. The AI theme is remarkably strong and resilient. 

While this may be the beginning of a choppier phase, and perhaps a healthy pullback to 50 day SMA's in the Index ETF's, it is certainly constructive to see names like NVDA GEV and CRDO show very clear resilience. 

I raised cash by closing out my swings but held my three position trades according to plan. This mix of swings and position trades is what help ME smooth my own reactions AND my equity curve. This is something that must be personalized and I've been relentlessly stressing this concept recently as I view it as extremely important. 

After a torrid week of economic data, next week offers a reprive with very few meaningful upcoming data points. Earnings season continues to roll onward with notable reports from: HIMS MELI PLTR (Mon.) CAT PFE YUM AMD ALAB (Tues.) AMGN ANET TOST SHOP DIS ABNB DASH DKNG BROS FTNT UBER DDOG TEAM RKLB  and many more. 

In this video I go into more detail as usual. As always I recommend watching in its entirety (1.5x -2x speed helps).

I am currently in three open trades carrying 0 bps of Total Open Risk: GEV NVDA AVGO (position).  

The Daily Watch List used in this video is attached as a .txt file on the main post. 

UPDATED PEAD WATCH LIST

There has not been a broad base of upside PEAD moves thus far in the season. 

UPDATED TRADINGVIEW RELATIVE STRENGTH WATCH LIST 

Simple Scan Criteria:

Price > $10

Avg. 30 Day Vol. > 750k Shares

Price > 200 day SMA

50 day SMA > 200 day SMA

20 day SMA > 50 day SMA

Monthly or 3-Month Performance > SPY performance over same period.