Daily Morning Brief; July 08, 2026
Market Overview
First close below the 21 EMA today after a nice run higher, but it is only one close and the stack is still intact with the 8 above the 21. Price sits right at 741 with the 21 at 741.93, so this is the level to watch into tomorrow. The 50 day at 738.15 is close underneath and has been climbing steadily, giving us a clear line in the sand. VIX at 18.2 is not screaming panic. One weak close after strength like we saw the past week is often just a breather, so no reason to get bearish unless we start stacking closes below the 21.
