Mid Week Update - FOMC Edition

Volatility, Key Levels, Nasdaq Setup, and Q3 Cheat Sheet

Jul 29, 2026

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This week has been painful for the Nasdaq which adds extra drama to this FOMC meeting, you can definitely sense something in the air. But, when you look around there have been several names and sectors performing incredibly well.

Apple is a prime example (earnings upcoming)

Back to FOMC, when changes happen with the Fed, specifically a new chair, they are often tested with the market. Average drawdowns are > 10%

Volatility

The VIX has been teasing breaking over 20 for some time but hasn’t had the big spike needed to make a nice bottom. Part of that reasoning may be because of positioning.

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