Daily Morning Brief; August 03, 2026
Market Overview
The SPY is going for its 3rd straight close above the 21 EMA and today’s action is exactly what you want to see. We ripped through 748 and printed a high at 756 with the close right up near the top of the range. The 8 and 21 EMAs are basically stacked at 744 with the 50 day right there too, so all the dynamic support is bunched up under price. VIX at 15.6 tells you there’s no fear here. As long as we hold above the 8 EMA this trend has room to keep running.
Top Setups — 3 Signals
HIG — BULL · LARGE
Calls Bought · Strike: 160.0 · Exp: Dec26 · 15000 contracts · $4.9M
HIG is running clean above a rising stack with the 8 at 142.25 and the 21 at 140.03, price sitting at 142.61 and well over every structural average. Someone stepped in for 15,000 December 160 calls, nearly $5M in premium, and this name has only shown up once in the last six months so it stands out. Weekly structure is making higher highs and higher lows, so use the 8 EMA as your closer level rather than waiting all the way back to the 21
