Daily Morning Brief; August 18, 2026
Market Overview
The SPY is pulling back today and looks like it will close right around the 8 EMA at 770.73 after tagging the lows near 767. This is the 13th straight close above the 21 EMA so the uptrend is very much intact, we’re just seeing the first bit of softness after a strong run. The 21 sits down at 762.59 and the stack is still cleanly positive with an 8 point spread. VIX at 15.8 tells you there’s no panic here. As long as the 8 holds we stay in trend mode, and even a slip to the 21 would just be a normal reset in a healthy tape.
