Daily Morning Brief; July 16, 2026
Market Overview
The SPY is going for its 13th straight close above the 21 EMA and the whole stack is still cleanly aligned. The 8 EMA sits at 750.83 with the 21 down at 746.74, so we’ve got a healthy +4 spread underneath us. We pulled back off the 754.57 high today but this is normal digestion inside an uptrend, not a warning. The 8 EMA is the level to watch for near support here, no reason to wait for a trip back to the 21 with momentum this steady. VIX at 16.4 keeps the tape calm.
