Daily Morning Brief; July 06, 2026
Market Overview
The SPY is going for its 5th straight close above the 21 EMA and today it’s pushing to 750.77, a fresh leg higher off the late June shake. The stack is clean with the 8 at 743.73 sitting above the 21 at 741.4, and price is riding well above both. That dip to 716 on June 26 got bought hard and we’ve gone straight up since. VIX at 15.9 tells you there’s no fear here. As long as we hold the 8 EMA this trend keeps working, no reason to fight it.
Flow is broadly bullish across sectors this morning with call buying leading in industrials and health care. Institutional put selling showing up in the mega cap tech names too.
Top Setups — 5 Signals
GEV — BULL · MEGA
Calls Bought · Strike: 1460.0 · Exp: Sep26 · 1400 contracts · $6.5M
GEV is way out in front of its stack with price at 1155 and the 8 EMA at 1112, so this one is trending strong and not looking back. Buyers stepped in for 1400 of the Sep 1460 calls for $6.5M, betting on continuation well above current levels. The 8 EMA is your nearest support here, no need to wait for a pullback all the way to the 21 at 1064 when price is running like this.
