The week, written down
Every Friday after the close: what actually moved the week — policy, earnings, energy — and then what it did to the tape. Levels and scenarios, never calls. Every price comes from our own market-data bars, and every outside claim names its source.
August 28, 2026Jackson Hole, and Nvidia's round tripTwo things happened this week and they pulled in opposite directions. Wednesday night the largest company in the index reported a quarter that doubled its…
August 21, 2026the bond market wrote the scriptThe bond market wrote this week's script, and equities spent five sessions reacting to it. Yields on 30-year Treasuries pushed to their highest since 2007…
August 14, 2026cooler inflation, and the AI names sold anywayTwo inflation prints came in cooler than expected, the S&P 500 closed at what the coverage called a record on Thursday, and the two companies that sell the…
August 7, 2026a jobs miss, and the best week in monthsThe economy lost jobs in July, and stocks had their best week in months. Those two facts belong in the same sentence, because the second one happened because…
July 31, 2026a flat month and a correction, in the same four weeksJuly ended with the index you happened to own deciding your entire month. SPY +0.03%. QQQ -6.57%. IWM -3.08%. A flat month and a correction, describing the…
July 24, 2026two red weeks, and the 8-week line gave waySPY closed the week at 738.93, down 0.59% — its second red week in a row. Here's what the tape looks like going into an FOMC week.
About this letter
What is The Friday Wrap?
A weekly market letter published every Friday after the US close. It covers whatever actually moved the week — the drivers change, the method does not — and then what that did to the tape across the S&P 500, Nasdaq 100 and Russell 2000 via SPY, QQQ and IWM. Every issue is free to read here.
Where do the numbers come from?
Every price, level, moving average and return is computed from our own SIP market-data bars. Single-stock and sector session moves are separately verified against live broker quotes before publication. Macro, earnings and energy claims are attributed in line to the outlet they came from, and each issue closes with a sources line that separates our own data from outside reporting.
Does it make predictions or give trade recommendations?
No. The letter reports where the levels are and what a break of one would mean structurally. It contains no forecasts, price targets, base cases or trades, and it names no positions. It is impersonal market commentary, not investment advice, and it is not tailored to anyone's circumstances.
What does it deliberately not cover?
Each issue states its own gaps. We carry no dark-pool prints, no market-on-close imbalance data, no spot VIX, and no true gamma or options greeks — so we never publish those. Where a figure comes from someone else's reporting rather than our measurement, the letter says so, and where an outside source disagrees with our bars we print both numbers instead of splitting the difference.
The Friday Wrap is impersonal market commentary. It is not investment advice, not a recommendation, and not tailored to anyone’s circumstances. It contains no forecasts, targets, or trades. Prices come from our own market-data bars; every external claim names its source in the letter.