Daily Morning Brief; August 04, 2026
Market Overview
The SPY is going for its 3rd straight close above the 21 EMA and today’s push to 768 is the cleanest action we’ve had in weeks. The full stack is back in order with the 8 over the 21 over the 50, and the spread has opened up nicely to +3.81. After that ugly 729 flush on the 29th, buyers stepped right back in and now we’re extended well above every key level. The 8 EMA at 750 is your nearer support if this wants to breathe, but don’t sit around waiting for a trip back to the 21 at 746, that could be a while. VIX at 16 tells you the fear is drained out of this thing.
