Daily Morning Brief; August 12, 2026
Market Overview
The SPY is going for its 9th straight close above the 21 EMA and the stack is clean with the 8 sitting almost 10 points over the 21. Price has been chopping sideways up here in the 770s for a week now but it’s holding, and that consolidation after the run off the 50 is healthy. The 8 EMA at 767 is your nearer support if this wants to keep grinding, no reason to look all the way back at the 21 while we’re trending like this. VIX at 14.8 tells you there’s no fear in the tape. As long as we stay over the 8 this stays a buyer’s market.
