OP Wire 9/26 (OP – Lite)

Morning vibe: Futures are green as traders brace for fresh inflation reads and digest a new tariff volley out of D.C. We’ll keep it tight and tradable.

Futures

  • Dow +0.2% | S&P +0.1% | Nasdaq 100 +0.1% pre-market.
  • Thursday’s dip came on hotter data (lower jobless claims, GDP revision). Short-dated yields popped—pressure on the “more cuts” camp.

Macro Focus — PCE (8:30a ET)

  • Street looks for Core PCE +0.2% m/m; +2.9% y/y (unch from July).
  • Read-through: a benign print keeps hope alive for cuts later this year, but the Fed is threading the needle between sticky inflation and a cooling labor market.

Policy Watch — New Tariffs

  • Trump announced tariffs including 100% duties on branded/patented pharma (plus 25% on heavy trucks; other product-specific levies).
  • European/Asian drugmakers ticked lower. Reminder: “reciprocal” country tariffs may share the stage with product-specific hits—headline risk isn’t going away.

Semi Check — Import Reliance in the Crosshairs

  • A reported policy discussion would push U.S. tech to match domestic semi output with imports or face tariffs.
  • EU/Asia chip names slipped; U.S. onshoring narrative = tailwind for stateside capacity, uncertainty for overseas suppliers. Watch capex winners and tool makers on pullbacks.

Metals & Energy

  • Gold steady after a pullback from highs—tariff noise + PCE anticipation = safe-haven bid stays warm.
  • Crude higher on Russia infra attacks + surprise U.S. draw → constructive tape into week’s end.

QQQ Game Plan

  • Yesterday’s QQQ action looked like the early innings of a needed pullback after a monster run.
  • Bulls defended the LOD with a clean intraday “V,” closing 593.53 (-0.43%).
  • Levels: < 580 opens a quick test of 570–560; reclaim/close > 600 sets tone for a constructive weekly.
  • Keep your playbook flexible—“bear-style” vol is lurking despite the broader bull phase.

Big Board — Snapshot

  • BTC: ~$109.6k
  • Gold (spot): ~$3,780/oz
  • Silver (spot): ~$45/oz

Today’s Calendar (ET)

  • 8:30 — Core PCE (Aug), PCE (Aug), Personal Spending (Aug)
  • 10:00 — Michigan 1Y & 5Y Inflation Expectations (Sep), Michigan Sentiment/Expectations
  • 11:30 — Atlanta Fed GDPNow (Q3)
  • 1:00 — Baker Hughes Oil & Total Rig Count; FOMC Bowman speaks
  • 6:00 — FOMC Bostic speaks

OP Notes

  • INTC keeps paying us. That was the best setup on the board and the OP fam nailed it. Stack Your Gains™, then reinvest in your skillset.
  • Want more than 1 high-conviction alert/week without giving back gains between? OP Lifers is built for that. Email steve@optionsplayers.com and we’ll map the system that fits your schedule, bankroll, and goals.
  • See you in chat for live levels, entries, and risk. Let’s work.
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