Daily Morning Brief; July 01, 2026
Market Overview
The SPY is going for its 3rd straight close above the 21 EMA and the stack is back in order with the 8 sitting just over the 21. We fought back nicely from that ugly June 26th flush down to 716 and have printed three green closes since. Price is well above the 50 day at 735 and the 200 is way down at 688, so the bigger trend is fine. VIX at 16 tells you the fear has drained out. As long as we hold over the 21 at 740 this remains a buyable tape.
