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What the Charts Are Saying Ahead of Jackson Hole

A look at SPY, QQQ, Bitcoin, and more as markets pause and rotate before Friday’s big Fed moment
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Market Update – August 19, 2025

Today’s update is back in video format.

We’ll take a look at SPY, QQQ, IWM, DIA, Bitcoin, Ethereum, and Litecoin, with a focus on how markets are setting up ahead of Jackson Hole.

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  • Growth vs. value rotation is showing up in the charts.

  • Crypto is wobbling but still within context.

  • And most of the major equity indices remain in constructive territory—just digesting recent gains.

As always, I’ll walk through the key levels, VWAP zones, and moving averages I’m watching, and share a few thoughts on how I’m approaching the back half of the week.

Watch the full update—and stay tuned for another on Thursday as we prep for Powell.

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